Taxation Act 1702

JurisdictionUK Non-devolved
Citation1702 c. 5
Year1702
Anno primo A N N Regin. An Act for granting an Aid to her Majesty, by Sale of several Annuities at the Exchequer, for carrying on the War againstFrance and Spain .

(1 Ann. St. 2) C A P. V.

Most Gracious Sovereign ,

'W H E R E A S by an Act of Parliament made and passed atWestminster , in the fourth Year of the Reign of King William and Queen Mary (of blessed Memory) intituled, France, certain Rates or Duties of Excise upon Beer, Ale, and other Liquors, were imposed, during the Term of ninety-nine Years, which commenced from the five and twentieth Day ofJanuary in the Year of our Lord one thousand six hundred ninety and two, and made liable to the Payment of several Annuities, which were to be purchased in the Form thereby prescribed: And by another Act of Parliament made in the fifth Year of the Reign of their said late Majesties, intituled, France, two seventh Parts of other Duties of Excise upon Beer, Ale, and other Liquors thereby granted to their said late Majesties, their Heirs, and Successors, are made liable to the Payment of other Annuities, which were to be purchased in the Manner and Form thereby prescribed; and whereas by Virtue or in Pursuance of the said several Acts, and of another Actmade in the fifth Year of their said late Majesties Reign, for supplying the Deficiency of the Money raised by the Act first above mentioned, several Annuities were purchased at divers Rates for one, two, or three Lives: And whereas several of the said Annuities which were so purchased (and whereupon no Reversion or further Estate or Interest hath been purchased, and which have not been changed into a certain Term of Years, in Pursuance of any subsequent Act or Acts of Parliament in that Behalf) are determined by the Deaths of such Contributors or their Nominees respectively, for whose Life or Lives the same were to continue respectively, which Annuities, so determined, did amount at least to the Sum of five thousand two hundred seventy-seven Poundsper Annum , which was payable out of the Duties of Excise imposed by the said first mentioned Act of Parliament, and to the Sum of five hundred sixty-five Pounds per Annum , which was payable out of the said two seventh Parts of the other Duties of Excise before mentioned:' Now for the more effectual raising the Money which is necessary for carrying on the present War against France and Spain , and supplying your Majesty's other Occasions, we your Majesty's most dutiful and loyal Subjects, the Commons of...

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