§ Mr. Kenneth Carlisle
asked the Chancellor of the Exchequer if he will make a statement about the stamp duty payable on the conveyance of a freehold subject to an agreement for a lease for a term exceeding 35 years.
§ Mr. Moore
The Board of Inland Revenue is advised that such a conveyance or transfer of a freehold or leasehold interest might not be properly stamped unless it is stamped on the basis that the consideration includes any sum payable under the agreement. The board is seeking further advice from leading counsel. Where the conveyance or transfer of a freehold or leasehold reversion has been submitted for an adjudication stamp under section 12 of the Stamp Act 1891 the board will not in the meantime assess the duty with which it is advised the instrument is chargeable, unless requested to do so.