Stamp Act 1870

JurisdictionUK Non-devolved
Citation1870 c. 97


Stamp Act, 1870

(33 & 34 Vict.) CHAP. 97.

An Act for granting certain Stamp Duties in lieu of Duties of the same kind now payable under various Acts, and consolidating and amending provisions relating thereto.

[10th August 1870]

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:

S-1 Short title and commencement of Act.

1 Short title and commencement of Act.

1. This Act may be cited as ‘TheStamp Act, 1870,’ and shall come into operation on the first day of January one thousand eight hundred and seventy-one, which date is herein-after referred to as the commencement of this Act.

S-2 Interpretation of terms.

2 Interpretation of terms.

2. In the construction and for the purposes of this Act the following words have the meanings by this section assigned to them, unless it is otherwise provided, or there be something in the context repugnant thereto:

(1) (1.) ‘The Commissioners’ means the Commissioners of Inland Revenue:

(2) (2.) ‘Material’ means and includes every sort of material upon which words or figures can be expressed:

(3) (3.) ‘Write,’‘written,’ and ‘writing’ include every mode in which words or figures can be expressed upon material:

(4) (4.) ‘Instrument’ means and includes every written document:

(5) (5.) ‘Stamp’ means as well a stamp impressed by means of a die as an adhesive stamp:

(6) (6.) ‘Stamped,’ with reference to instruments and material, applies as well to instruments and material impressed with stamps by means of a die as to instruments and material having adhesive stamps affixed thereto:

(7) (7.) ‘Executed’ and ‘execution,’ with reference to instruments not under seal, mean signed and signature:

(8) (8.) ‘Money’ includes all sums expressed in British or in any foreign or colonial currency:

(9) (9.) ‘Stock’ means and includes any share in any stocks or funds transferable at the Bank of England or at the Bank of Ireland, and India promissory notes, and any share in the stocks or funds of any foreign or colonial state or government, or in the capital stock or funded debt of any company, corporation, or society in the United Kingdom, or of any foreign or colonial company, corporation, or society:

(10) (10.) ‘Marketable security’ means a security of such a description as to be capable of being sold in any stock market in the United Kingdom:

(11) (11.) ‘Person’ includes company, corporation, and society:

(12) (12.) ‘Steward’ of a manor includes deputy steward.

S-3 Grant of duties in schedule.

3 Grant of duties in schedule.

3. From and after the commencement of this Act, and subject to the exemptions contained in the schedule to this Act, and in any other Acts for the time being in force, there shall be charged for the use of Her Majesty, her heirs and successors, upon the several instruments specified in the schedule to this Act, the several duties in the said schedule specified, and no other duties.

S-4 As to instruments charged with the duty of 35s

4 As to instruments charged with the duty of 35s

4. Any instrument which by any Act heretofore passed, and not relating to stamp duties, is specifically charged with the duty of thirty-five shillings, shall, from and after the commencement of this Act, be chargeable only with the duty of ten shillings in lieu of the said duty of thirty-five shillings.

S-5 As to instruments relating to property belonging to the Crown.

5 As to instruments relating to property belonging to the Crown.

5. Except where express provision to the contrary is made by this or any other Act, an instrument relating to property belonging to the Crown, or being the private property of the Sovereign, is to be charged with the same duty as an instrument of the same kind relating to property belonging to a subject.

S-6 All duties to be paid according to the regulations of this Act, and the schedule to be read as part of this Act.

6 All duties to be paid according to the regulations of this Act, and the schedule to be read as part of this Act.

(1)6. (1.) All stamp duties which may from time to time be chargeable by law upon any instruments are to be paid and denoted according to the general and special regulations in this Act contained.

(2) (2.) The said schedule, and everything therein contained, is to be read and construed as part of this Act.

General Regulations.

General Regulations.

S-7 How instruments are to be written and stamped.

7 How instruments are to be written and stamped.

(1)7. (1.) Every instrument written upon stamped material is to be written in such manner, and every instrument partly or wholly written before being stamped is to be so stamped, that the stamp may appear on the face of the instrument, and cannot be used for or applied to any other instrument written upon the same piece of material.

(2) (2.) If more than one instrument be written upon the same piece of material, every one of such instruments is to be separately and distinctly stamped with the duty with which it is chargeable.

S-8 Instruments to be separately charged with duty in certain cases.

8 Instruments to be separately charged with duty in certain cases.

8. Except where express provision to the contrary is made by this or any other Act,

(1) (1.) An instrument containing or relating to several distinct matters is to be separately and distinctly charged, as if it were a separate instrument, with duty in respect of each of such matters.

(2) (2.) An instrument made for any consideration or considerations in respect whereof it is chargeable with ad valorem duty, and also for any further or other valuable consideration or considerations, is to be charged with duty in respect of such last-mentioned consideration or considerations as if it were a separate instrument made for such consideration or considerations only.

S-9 As to the use of appropriated stamps.

9 As to the use of appropriated stamps.

(1)9. (1.) A stamp which by any word or words on the face of it is appropriated to any particular description of instrument is not to be used, or, if used, is not to be available, for an instrument of any other description.

(2) (2.) An instrument falling under the particular description to which any stamp is so appropriated as aforesaid is not to be deemed duly stamped, unless it is stamped with the stamp so appropriated.

S-10 Facts and circumstances affecting duty to be set forth in instruments.

10 Facts and circumstances affecting duty to be set forth in instruments.

10. All the facts and circumstances affecting the liability of any instrument to ad valorem duty, or the amount of the ad valorem duty with which any instrument is chargeable, are to be fully and truly set forth in the instrument; and every person who, with intent to defraud Her Majesty, or her heirs or successors,

(1) (1.) Executes any instrument in which all the said facts and circumstances are not fully and truly set forth;

(2) (2.) Being employed or concerned in or about the preparation of any instrument, neglects or omits fully and truly to set forth therein all the said facts and circumstances;

shall forfeit the sum of ten pounds.

S-11 Money in foreign or colonial currency to be valued.

11 Money in foreign or colonial currency to be valued.

11. Where an instrument is chargeable with ad valorem duty in respect of any money in any foreign or colonial currency, such duty shall be calculated on the value of such money in British currency according to the current rate of exchange on the day of the date of the instrument.

S-12 Stock and marketable securities to be valued.

12 Stock and marketable securities to be valued.

12. Where an instrument is chargeable with ad valorem duty in respect of any stock or of any marketable security, such duty shall be calculated on the value of such stock or security according to the average price thereof on the day of the date of the instrument.

S-13 Effect of statement of value.

13 Effect of statement of value.

13. Where an instrument contains a statement of current rate of exchange, or average price, as the case may require, and is stamped in accordance with such statement, it is, so far as regards the subject matter of such statement, to be deemed duly stamped, unless or until it is shown that such statement is untrue, and that the instrument is in fact insufficiently stamped.

S-14 As to denoting stamp.

14 As to denoting stamp.

14. Where the duty with which an instrument is chargeable depends in any manner upon the duty paid upon another instrument, the payment of such last-mentioned duty shall, if application be made to the Commissioners for that purpose, and on production of both the instruments, be denoted in such manner as the Commissioners think fit upon such first-mentioned instrument.

S-15 Terms upon which instruments may be stamped after execution.

15 Terms upon which instruments may be stamped after execution.

(1)15. (1.) Except where express provision to the contrary is made by this or any other Act, any unstamped or insufficiently stamped instrument may be stamped after the execution thereof, on payment of the unpaid duty and a penalty of ten pounds, and also by way of further penalty, where the unpaid duty exceeds ten pounds of interest on such duty, at the rate of five pounds per centum per annum, from the day upon which the instrument was first executed up to the time when such interest is...

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