HC Deb 14 June 1910 vol 17 cc1287-8W

asked the Chancellor of the Exchequer whether he will explain why the Somerset House authorities are insisting, under the Finance Act, 1910, on double Stamp Duty being paid on leases now presented for stamping, even where those leases are being granted in pursuance of contracts entered into before 30th April, 1909?


The Stamp Duty chargeable upon an instrument is governed by the law in force at the time when it is first executed (54 and 55 Vic. cap. 39, section 14 (4)); and leases first executed on or after 29th April. 1910, are consequently liable to the increased Stamp Duties imposed by Part V. of the Finance (1909–10) Act, 1910, irrespective of the date of the contract expressed therein.