STAMP DUTIES

353

is to be separately and distinctly charged as if it were a
separate instrument with duty in respect of each of the
matters. The effect of this provision may be illustrated by
two of several cases decided thereon. In these two cases it
was held (1) that an instrument containing an appointment of
new trustees and also vesting the trust property in them was
chargeable in respect both of the appointment and of the
vesting [Hadgett v. Inland Revenue, L. R., 3 Ex. D. 46];
and (2) that a deed of separation between a husband and
wife containing a covenant by the husband to pay an annuity
to the wife was chargeable as a deed as well as in respect
of the covenant [Lewis and Lewis v. Inland Revenue (1898),
2 Q.B. 290].
‘Denoting’ stamps are provided to meet the case of in- ‘ Denoting
struments where the amount of duty payable depends upon Stamps.
the duty borne by some other instrument. These stamps
are used for duplicates or counterparts of instruments
generally, where the maximum duty of five shillings impressed
thereon is less than the duty charged on the original instrument,
 and for other instruments executed as collateral
or substituted instruments charged with a lower rate of
duty by reason of their being collateral to or in substitution
for instruments which bear a higher rate of duty, e.g. in the
case of marketable securities charged with a reduced rate of
duty by reason of their having been issued in substitution
for an original marketable security which was duly stamped.
Instruments stamped with a low rate of duty by reason of
higher duty having been paid on some other instrument
must bear a denoting stamp to make them available.
These stamps are impressed without any payment upon
production to the proper officer of Inland Revenue of all the
instruments necessary to satisfy him that the full duty has
been paid. Another stamp, termed an ‘adjudication’
stamp, is also provided for the case of executed instruments
submitted to the Commissioners of Inland Revenue for the
purpose of the stamp duty thereon being assessed by them, and
where this stamp is impressed on an instrument no question
is afterwards permitted as to the sufficiency of the duty
paid thereon.
The general rule with regard to stamping executed
instruments not prohibited by law to be stamped after
execution is that they are allowed to be stamped in the case
of agreements under hand within fourteen days, and in the
case of other instruments within thirty days after first
execution without payment of a penalty. Afterwards a
penalty is exigible except in the case of the majority of

Adjudication
Stamps.

Stamping of
Executed
Instruments.