LegalizeFinance Act , 1973
| (1) Where the amount or value of the consideration for the sale does not exceed one thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions, in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds one thousand pounds | Exempt |
|---|---|
| (2) Where the amount or value of the consideration for the sale exceeds one thousand pounds but does not exceed two thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds two thousand pounds:— | |
| For every £50, or fractional part of £50, of the consideration | 25p |
| (3) Where the amount or value of the consideration for the sale exceeds two thousand pounds but does not exceed six thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds six thousand pounds:— | |
| For every £50, or fractional part of £50, of the consideration | 50p |
| (4) Where in the case of a conveyance or transfer on sale or in the case of a conveyance or transfer operating as a voluntary disposition inter vivos the consideration for the sale or the value of the property exceeds six thousand pounds and the instrument contains a certificate by the party to whom the property is being conveyed or transferred to the effect that the person becoming entitled to the entire beneficial interest in the property (or, where more than one person becomes entitled to a beneficial interest therein, each of them) is related to the person or each of the persons immediately theretofore entitled to the entire beneficial interest in the property in one or other of the following ways, that is to say, as a lineal descendant, parent, grandparent, step-parent, husband or wife, brother or sister of a parent or brother or sister, or lineal descendant of a parent, husband or wife or brother or sister:— | |
| For every £50, or fractional part of £50, of the consideration or of the value | 50p |
| (5) Where the amount or value of the consideration for the sale exceeds six thousand pounds but does not exceed seven thousand five hundred pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds seven thousand five hundred pounds:— | |
| If the amount or value of the consideration— | |
| --- | --- |
| Exceeds | £6,000 |
| ” | £6,250 |
| ” | £6,500 |
| ” | £6,750 |
| ” | £7,000 |
| ” | £7,250 |
| (6) Where the amount or value of the consideration for the sale exceeds seven thousand five hundred pounds but does not exceed ten thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds ten thousand pounds:— | |
| --- | --- |
| For every £50, or fractional part of £50, of the consideration | £1.00 |
| (7) Where the amount or value of the consideration for the sale exceeds ten thousand pounds but does not exceed fifty thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds fifty thousand pounds:— | |
| For every £50, or fractional part of £50, of the consideration | £1.50 |
| (8) Of any other kind whatsoever not hereinbefore described:— | |
| For every £50, or fractional part of £50, of the amount or value of the consideration for the sale, or, in the case of a conveyance or transfer operating as a voluntary disposition inter vivos, of the value of the property conveyed or transferred | £2.50 |
Part III
| (3) For any other definite term or for any indefinite term of any lands, tenements, or heritable subjects— | |
|---|---|
| Where the consideration, or any part of the consideration (other than rent), moving either to the lessor or to any other person, consists of any money, stock, or security, and— | |
| (a) The amount or value of such consideration does not exceed one thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds one thousand pounds | Exempt |
| (b) The amount or value of such consideration exceeds one thousand pounds but does not exceed two thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds two thousand pounds:— | |
| For every £50, or fractional part of £50, of the amount or value | 25p |
| (c) The amount or value of such consideration exceeds two thousand pounds but does not exceed six thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds six thousand pounds:— | |
| For every £50, or fractional part of £50, of the amount or value | 50p |
| (d) The amount or value of such consideration exceeds six thousand pounds but does not exceed seven thousand five hundred pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds seven thousand five hundred pounds:— | |
| If the amount or value of the consideration— | |
| --- | --- |
| Exceeds | £6,000 |
| ” | £6,250 |
| ” | £6,500 |
| ” | £6,750 |
| ” | £7,000 |
| ” | £7,250 |
| (e) The amount or value of such consideration exceeds seven thousand five hundred pounds but does not exceed ten thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds ten thousand pounds:— | |
| --- | --- |
| For every £50, or fractional part of £50, of the amount or value | £1.00 |
| (f) The amount or value of such consideration exceeds ten thousand pounds but does not exceed fifty thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds fifty thousand pounds:— | |
| For every £50, or fractional part of £50, of the amount or value | £1.50 |
| (g) The case is of any other kind whatsoever not hereinbefore described:— | |
| For every £50, or fractional part of £50, of the amount or value | £2.50 |
| Where the consideration or any part of the consideration is any rent: | |
| In respect of such consideration: | |
| If the rent, whether reserved as a yearly rent or otherwise, is at a rate or average rate: | |
| --- | --- |
| Not exceeding £5 per annum | |
| Exceeding— | |
| £5 | and |
| £10 | ” |
| £15 | ” |
| £20 | ” |
| £25 | ” |
| £50 | ” |
| £75 | ” |
| £100 | |
| For every full sum of £50, and also for any fractional part of £50 thereof |
PART IV Mortgage, Bond, Debenture, Covenant (except a marketable security) and Warrant of Attorney to confess and enter up judgment.
| (1) Being the only or principal or primary security (other than an equitable mortgage) for the payment or repayment of money— | |
|---|---|
| Not exceeding ten thousand pounds | Exempt |
| Exceeding ten thousand pounds— | |
| For every two hundred pounds, or any fractional part of two hundred pounds, of the amount secured | 25p |
| (2) Being a collateral, or auxiliary, or additional, or substituted security (other than an equitable mortgage), or by way of further assurance for the above-mentioned purpose where the principal or primary security is duly stamped— | |
| Where the amount secured does not exceed ten thousand pounds | Exempt |
| Where the amount secured exceeds ten thousand pounds | 50p |
| (3) Being an equitable mortgage: | |
| Where the amount secured does not exceed ten thousand pounds | Exempt |
| Where the amount secured exceeds ten thousand pounds: | |
| For every one hundred pounds, and also for any fractional part of one hundred pounds | 5p |
| (4) Transfer, Assignment, or Disposition of any mortgage, bond, debenture, or covenant (except a marketable security) or of any money or stock secured by any such instrument, or by any warrant of attorney to enter up judgment, or by any judgment. | |
| Where the amount secured does not exceed ten thousand pounds | Exempt |
| Where the amount secured exceeds ten thousand pounds: | |
| For every two hundred pounds, and also for any fractional part of two hundred pounds, of the amount transferred, assigned, or disposed, exclusive of interest which is not in arrear | 5p |
| And also where any further money is added to the money already secured | The same duty as a principal security for such further money. |
| (5) Reconveyance, Release, Discharge, Surrender, Resurrender, or Renunciation of any such security as aforesaid, or of the benefit thereof, or of the money thereby secured: | |
| Where the amount secured does not exceed ten thousand pounds | Exempt |
| Where the amount secured exceeds ten thousand pounds: | |
| For every two hundred pounds, and also for any fractional part of two hundred pounds of the total amount or value of the money at any time secured | 5p |
TENTH SCHEDULE Amendment of Enactments
| Number and Year | Short Title | Amendment |
|---|---|---|
| (1) | (2) | (3) |
| No. 22 of 1972 | Value-Added Tax Act, 1972 | In section 1 (1), in the definition of “livestock”, “and pigs” shall be substituted for “pigs and horses”; in the definition of “taxable period”, “provided that the taxable period immediately following that commencing on the 1st day of May, 1973, shall be the period commencing on the 1st day of July, 1973, and ending on the 2nd day of September, 1973, and the next succeeding taxable period shall be the period commencing on the 3rd day of September, 1973, and ending on the 31st day of October, 1973” shall be inserted after “November”; and in the definition of “manufacturer”, “and, in relation to goods of a kind specified in the Fourth Schedule, includes a person who in the course of business supplies or arranges for the supply of materials to another person for the purpose of having any such goods made or assembled on his behalf by that other or another person” shall be inserted after “goods”. |
| In section 3, in subsection (1), “, subject to subsection (1A),” shall be inserted after “in relation to goods, shall”; and in subsection (5) (b) “for the time being specified in section 11 (1) (c)” shall be substituted for “of 30.26 per cent.”. | ||
| In section 5 (1), “not being a delivery deemed in accordance with section 3 (1 A) to be a rendering of services”, shall be inserted after “goods”. | ||
| In section 8, the following subsection shall be substituted for subsection (1) “(1) In this section references to a farming business do not include references to fur farming.”; and in subsection (3), in paragraph (a) (i), “paragraphs (vii), (xii), (xiv) and (xv) of the Second Schedule,” shall be inserted after “specified in”; in paragraph (b) (ii), “or which are goods of a kind specified in paragraphs (vi) to (viii) or (xii) to (xv) of the Second Schedule, delivered to him by persons other than accountable persons” shall be inserted after “accountable persons”; and “either of the rates for the time being specified in paragraphs (a) or (d) of subsection (1) of section 11” shall be substituted for “the rate of 5.26 per cent.”. | ||
| In section 10, in subsection (7), “14.81” shall be substituted for “19.20”; in subsection (8) (b) “45” shall be substituted for “60”. | ||
| In section 11, in subsection (1) (d), “, other than consideration to which paragraph (b) applies,” shall be inserted after “consideration”, “, (v) or (xvi)” shall be substituted for “or(v)” and “and (xii) to (xv)” shall be inserted after “(viii)”; in subsection (2), “for the time being specified in subsection (1) (c)” shall be substituted for “of 30.26 per cent.” and “for the time being specified in subsection (1) (a) on” shall be substituted for “of 5.26 per cent. of”; and in subsection (3), “paragraph (xvi) of the Second Schedule and paragraph (xxxii) of Part I of the Third Schedule,” shall be inserted after “10 (8) (c),”. | ||
| In section 12, in subsection (1), “tax at the rate specified in section 11 (1) (a) on” shall be substituted for “5.26 per cent. of” in both places where it occurs; in subsection (3) (a), “except to the extent that such provision constitutes a rendering of services in respect of which he is accountable for tax,” shall be added. | ||
| In section 13, in subsection (2) (b), “, tax were chargeable in respect of the delivery or rendering” shall be inserted after “another accountable person”; and the following subsection shall be substituted for subsection (4) — “(4) For the purposes of this section farming does not include fur farming by a person other than a person to whom paragraph (c) or (d) of section 8 (3) applies.” | ||
| In section 15, in subsection (1), “specified in section 11 (1) (a) on” shall be substituted for “of 5.26 per cent. of”; “specified in section 11 (1) (c) on” shall be substituted for “of 30.26 per cent. of” and “specified in section 11 (1) (e) on” shall be substituted for “of 16.37 per cent. of”; in subsection (2), “and (xii) to (xv)” shall be inserted after “(viii)” and in subsection (4) (b), “14.81” shall be substituted for “19.20”. | ||
| In section 17 (1), “at any of the rates specified in section 11 (1), including the rate of zero per cent.,” shall be inserted after “chargeable”. | ||
| In section 25(2), “11 (1B) or” shall be inserted before “23”. | ||
| In section 32 (1) (b), “by a person of a service which is connected with any” shall be substituted for “of a service by a person for the purpose of a”. | ||
| In the Third Schedule, in Part I, “other than horses and greyhounds” shall be added to paragraph (iv); “for a purpose other than the production of food” shall be added to paragraph (vi); “including textile” shall be substituted in paragraph (xi) for “excluding”; “other than food and drink of a kind specified in paragraph (xii) of the Second Schedule” shall be added to paragraph (xv); and “other than by oral consumption” shall be inserted in paragraph (xvi), after “use”. |
ELEVENTH SCHEDULE Enactments Repealed
| Session and Chapter or Number and Year | Short Title | Extent of Repeal |
|---|---|---|
| (1) | (2) | (3) |
| 54 & 55 Vict., c. 39 | Stamp Act, 1891 | In section 83, the words “makes, issues” and “or offers for subscription”. In the First Schedule, the headings—“Bond for securing the payment or repayment of money or the transfer or retransfer of stock”, “Debenture for securing the payment or repayment of money or the transfer or retransfer of stock”, “Foreign Security” and subheads (1), (3), (4) and (5) of the heading “Marketable Security”. Sections 112 and 113. |
| 59 & 60 Vict., c.28 | Finance Act, 1896 | Section 12. |
| 62 & 63 Vict., c. 9 | Finance Act, 1899 | Section 8. |
| 3 Edw. VII, c. 46 | Revenue Act, 1903 | Section 5. |
| 7 Edw. VII, c. 13 | Finance Act, 1907 | Section 10. |
| 7 Edw. VII, c. 24 | Limited Partnerships Act, 1907 | Section 11. |
| No. 22 of 1965 | Finance Act, 1965 | Paragraph (A) of subsection (1) and subsection (4) of section 31. |
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