Secretarial practice

Bibliographic data

Monograph

Identifikator:: 1828236004

URN:: urn:nbn:de:zbw-retromon-249926

Document type:: Monograph

Title:: Secretarial practice

Edition:: fourth edition

Place of publication:: Cambridge

Publisher:: W. Heffer & Sons Ltd

Year of publication:: 1930

Scope:: viii, 987 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter XXIX. Stamp duties

Collection:: Economics Books

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 in- strument, 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.

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