HC Deb 31 March 1927 vol 204 c1443W
Major KINDERSLEY

asked the Financial Secretary to the Treasury whether he is aware that, whereas the Law of Property (Amendment) Act, 1922, Section 130 (1), provides that, for facilitating the extinguishment of manorial incidents, the agreement, if made within five years after 31st December, 1925, shall not be chargeable with any stamp duties, the Inland Revenue authorities are claiming payment of stamp duty in respect of such agreements where they do not purport to deal with any extraneous matter which would attract stamp duty; that hardship and confusion is being caused by such action; and whether he will give instructions that this practice shall cease?

Mr. RONALD McNEILL

I have made inquiry into the matter referred to by my hon. and gallant Friend. I do not find that any claim has been made by the Inland Revenue authorities for stamp duty on compensation agreements relating to the extinguishment of manorial incidents which. under the provisions of Section 139 (1) (vii) of the Law of Property Act, 1922, are not chargeable with stamp duty. There are, however, certain rights preserved by the 12th Schedule to that Act, including mineral and sporting rights, which under the Act are not manorial incidents but may by agreement be treated as manorial incidents, and extinguished. Such agreements, I am advised, are distinct from the agreements referred to in Section 139 (1) (vii), and are properly chargeable with stamp duty.