Customs and Inland Revenue Act 1887
| Jurisdiction | UK Non-devolved |
| Citation | 1887 c. 15 |
| Year | 1887 |
Customs and Inland Revenue Act, 1887
(50 & 51 Vict.) CHAPTER 15.
An Act to grant certain Duties of Customs and Inland Revenue, to alter other duties, and to amend the laws relating to Inland Revenue.
[5th July 1887]
Most Gracious Sovereign,
W E, Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom of Great Britain and Ireland in Parliament assembled, towards raising the necessary supplies to defray Your Majesty's public expenses and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties herein-after mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:
1 Short title.
1. This Act may be cited as theCustoms and Inland Revenue Act, 1887.
PART I.
Customs and Excise.
2 Import duties on tea.
2. The duties of Customs now chargeable upon tea shall continue to be levied and charged, on and after the first day of August one thousand eight hundred and eighty-seven until the first day of August one thousand eight hundred and eighty-eight, on the importation thereof into Great Britain or Ireland; (that is to say,)
Tea, the pound Sixpence.
3 Duties and drawback on tobacco.
3. In lieu of the duties of Customs now payable on tobacco there shall, on and after the twenty-first day of May one thousand eight hundred and eighty-seven, be levied and charged upon tobacco imported into Great Britain or Ireland the duties following; (that is to say,)
| s. d. | ||
| Tobacco manufactured, viz.: | ||
Segars |
the lb. | 0 5 0 |
Cavendish or Negrohead |
the lb. | 0 4 6 |
Cavendish or Negrohead manufactured in bond |
the lb. | 0 4 0 |
Other manufactured tobacco |
the lb. | 0 4 0 |
| s. d. | ||
Snuff containing more than 13 lbs. of moisture in every 100 lbs. weight thereof |
the lb. | 0 3 9 |
Snuff not containing more than 13 lbs. of moisture in every 100 lbs. weight thereof |
the lb. | 0 4 6 |
Tobacco unmanufactured, viz.: |
||
Containing 10 lbs. or more of moisture in every 100 lbs. weight thereof |
the lb. | 0 3 2 |
Containing less than 10 lbs. of moisture in every 100 lbs. weight thereof |
the lb. | 0 3 6 |
And in lieu of the drawback now allowable on tobacco exported from Great Britain or Ireland, or deposited in a bonded or Queen's warehouse as the case may be, there shall, on and after the thirty-first day of May one thousand eight hundred and eighty-seven, be allowed the drawback of three shillings and threepence named in section one of the Manufactured Tobacco Act, 1863.
4 Restriction of amount of moisture in tobacco.
4. If any manufacturer of tobacco shall have in his custody or possession any tobacco (except tobacco which must undergo some process of treatment or manufacture before it is fit for sale), or if any dealer in or retailer of tobacco shall have in his custody or possession any tobacco, and such tobacco shall in either case on being dried at a temperature of two hundred and twelve degrees as denoted by Fahrenheit's thermometer be decreased in weight by more than thirty-five per centum, he shall incur an excise penalty of fifty pounds and the tobacco shall be forfeited.
Roil tobacco or cut tobacco in the custody or possession of a manufacturer of tobacco which is treated in the course of manufacture by baking, or hot-pressing, or stoving, shall be deemed fit for sale when the same has cooled after such treatment, and roll tobacco in such custody or possession, which is treated in the course of manufacture by pressing, merely, shall be deemed fit for sale immediately upon being put in press.
PART II.
Stamps.
5 Reduction of duty on certain sea policies.
5. Where the premium or consideration for any sea insurance does not exceed the rate of two shillings and sixpence per centum of the sum insured by the policy, the stamp duty upon such policy shall be one penny only.
6 Limitation of time for stamping foreign sea policies.
6. The period within which a policy of sea insurance made or executed out of the United Kingdom may be stamped on payment of the duty only, under section one hundred and seventeen of the Stamp Act, 1870, as amended by section forty-four of the Customs and Inland Revenue Act, 1881, is hereby reduced to ten days.
7 Duties on transfers of debenture stock or county stock and on stock certificates to bearer 33 & 34 Vict. c. 97.
7. In lieu of the duties now payable on a transfer, otherwise than on mortgage, of any debenture stock or funded debt of any company or corporation, or any county stock, there shall be charged the duties herein-after mentioned or referred to; (that is to say,)
Where the transfer is on sale, the same ad valorem duties as are charged by the Stamp Act, 1870, upon a conveyance or transfer on sale of other property by relation to the amount or value of the consideration for the sale;
Where the transfer is of any other kind than on sale or mortgage, ten shillings;
and in lieu of the duties now payable under section forty-six of the Customs and Inland Revenue Act, 1881, upon every ‘Stock Certificate to Bearer’ there shall be charged upon every such certificate a stamp duty of an amount equal to three times the amount of the ad valorem stamp duty which would be chargeable on a deed transferring the stock specified in the certificate if the consideration for the transfer were the nominal value of such stock.
8 Duty as composition for stamp duties.
(1)8.—(1.) By way of composition for certain stamp duties there shall be charged upon the aggregate amount appearing on every half-yearly account delivered to the Commissioners of Inland Revenue as herein-after mentioned for every full sum of one hundred pounds and any fractional part of one hundred pounds of such amount the duty of sixpence.
(2) (2.) The duty shall be a stamp duty, and shall be under the care and management of the said Commissioners, who by themselves and their officers shall have the same powers and authorities for the collection, recovery, and management thereof as are vested in them for the collection, recovery, and management of any stamp duties, and shall have all other powers and authorities requisite for such purposes.
9 Accounts to be delivered by companies, corporations, and county justices with a view to compound.
(1)9.—(1.) Any company or corporation may enter into an agreement with the said Commissioners, if the said...
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