HC Deb 28 March 1922 vol 152 cc1155-6W

asked the Chancellor of the Exchequer whether, in connection with contra accounts rendered by agents to their principals where the commission and expenses to be deducted or taken credit for exceed £2, it is not the custom to affix the stamp required by law, the responsibility for affixing which rests solely with the agent; whether any estimate has been made of the annual loss to the Exchequer through this evasion of the law; and whether, in order to strengthen the law, he will consider the advisability of providing that the responsibility for affixing the stamp in such cases shall reside jointly with the principals and their agent?


The account rendered by an agent to his principal showing the amounts collected by him and taking credit for commission and expenses due to him does not constitute a receipt for the amount of the commission and expenses and is therefore not liable to Receipt Stamp Duty.