Finance Act, 1954

Alteration of stamp duties on conveyances and transfers of land.

25.—(1) Section 13 of the Finance (No. 2) Act, 1947 (No. 33 of 1947), as amended by section 17 of the Finance Act, 1951 (No. 15 of 1951), shall have effect—

(a) as if, in subparagraph (ii) of paragraph (b) of subsection (2), “two thousand five hundred pounds” were substituted for “one thousand pounds”, and

(b) as if, the table set out in subsection (3), the following table were substituted:

“Exceeds

£500

and

does

not

exceed

£550

£5

10s.

£550

£600

£6.

£600

£650

£6

10s.

£650

£700

£7.

£700

£750

£7

10s.

£750

£800

£8.

£800

£850

£8

10s.

£850

£900

£9.

£900

£950

£9

10s.

£950

£1,000

£10.

£1,000

£1,050

£12.

£1,050

£1,100

£14.

£1,100

£1,150

£16.

£1,150

£1,200

£18.

£1,200

£1,250

£20.

£1,250

£1,300

£22.

£1,300

£1,350

£24.

£1,350

£1,400

£26.

£1,400

£1,450

£28.

£1,450

£1,500

£30.

£1,500

£1,550

£32.

£1,550

£1,600

£34.

£1,600

£1,650

£36.

£1,650

£1,700

£38.

£1,700

£1,750

£40.

£1,750

£1,800

£42.

£1,800

£1,850

£44.

£1,850

£1,900

£46.

£1,900

£1,950

£48.

£1,950

£2,000

£50.

£2,000

£2,050

£52

10s.

£2,050

£2,100

£55.

£2,100

£2,150

£57

10s.

£2,150

£2,200

£60.

£2,200

£2,250

£62

10s.

£2,250

£2,300

£65.

£2,300

£2,350

£67

10s.

£2,350

£2,400

£70.

£2,400

£2,450

£72

10s.

£2,450

£2,500

£75.”

(2) A reference in any statutory provision to subsection (3) of section 13 of the Finance (No. 2) Act, 1947 , shall, where appropriate, be construed as a reference to the said subsection as amended by this section.

(3) This section shall come into operation on the 1st day of August, 1954, or the date of the passing of this Act, whichever is the later, and shall not have effect with respect to any instrument executed before such coming into operation.