Finance Act, 1895



An Act to grant certain Duties of Customs and Inland Revenue, to repeal and alter other Duties, and to amend the Law relating to Customs and Inland Revenue and to make Provision for the Financial Arrangements of the Year.[1] [30th May 1895.]

Part I.

Customs and Excise.

[Ss. 1–5, rep. 8 Edw. 7. c. 49 (S.L.R.).]

Regulations for and allowance on exportation of methylated spirits.

43 & 44 Vict. c. 24.

48 & 49 Vict. c. 51.

6. Regulations of the Commissioners of Inland Revenue, under section one hundred and fifty-nine of the Spirits Act, 1880, may regulate the removal for exportation of methylated spirits, and where spirits used for methylation are removed from a place of methylation and exported in accordance with those regulations, there shall be paid to the exporter an allowance of [[2] three pence] for ever gallon of such spirits, computed at hydrometer proof, and subsection three of section three of the Customs and Inland Revenue Act, 1885, shall apply, as if the spirits were exported and the allowance made in pursuance of that section.

Extension of 39 & 40 Vict. c. 36. s. 119 as to time for payment of drawbacks to other allowances and drawbacks.

48 & 49 Vict. c. 51.

52 & 53 Vict. c. 42.

7. . . . . . . Section one hundred and nineteen of the Customs Consolidation Act, 1876 (which limits the time for the payment of a drawback on the exportation of goods) shall extend to the payment of any allowance in respect of spirits exported, used, or deposited, which is payable under section three of the Customs and Inland Revenue Act, 1885, as amended by section twenty-one of the Revenue Act, 1889, and to an allowance in respect of methylated spirits exported which is payable under this Act, and to the payment of any drawback of excise which is allowed on the exportation of any goods, in like manner as if it were in terms made applicable thereto, and the date of user or deposit were the date of shipment.

Amendment of 43 & 44 Vict. c. 24. ss. 74 and 95 as to removal of spirits for exportation or ship’s stores.

8. Spirits to which any sweetening or colouring matter or any other ingredient has been added in warehouse, and spirits warehoused by a rectifier of spirits for exportation or ship’s stores, and British liqueurs, may, if bottled and packed in cases when delivered from a warehouse, be removed, notwithstanding anything in sections seventy-four and ninety-five of the Spirits Act, 1880, to another warehouse for exportation or ship’s stores.

Part II.


Repeal of an exemption from stamp duty on receipts.

54 & 55 Vict. c. 39.

9.(1) Exemption numbered eight under the head “Receipt” in the First Schedule to the Stamp Act, 1891, is hereby repealed; and the duty shall be charged as if the exemption had not been contained in that schedule; provided that neither the name of a banker (whether accompanied by words of receipt or not) written in the ordinary course of his business as a banker upon a bill of exchange or promissory note duly stamped, nor the name of the payee written upon a draft or order, if payable to order, shall constitute a receipt chargeable with stamp duty.

(2) This section shall take effect as from the first day of July one thousand eight hundred and ninety-five.

[S. 10 rep. 8 Edw. 7. c. 49 (S.L.R.).]

Reduction of stamp duty on powers of attorney for transfer of small sums of Government stock.

11. The stamp duty on a letter or power of attorney for the sale, transfer, or acceptance of any government or parliamentary stocks or funds shall be—

s.    d.

Where the nominal amount of the stocks or funds does not exceed 100l.             -        -             -             -

2    6

Collection of stamp duty in cases of property vested by Act or purchased under statutory power.

12. Where after the passing of this Act, by virtue of any Act, whether passed before or after this Act, either—

(a) any property is vested by way of sale in any person; or

(b) any person is authorised to purchase property;

such person shall within three months after the passing of the Act, or the date of vesting, whichever is later, or after the completion of the purchase, as the case may be, produce to the Commissioners of Inland Revenue a copy of the Act printed by the Queen’s printer of Acts, of Parliament or some instrument relating to the vesting in the first case, and an instrument of conveyance of the property in the other case, duly stamped with the ad valorem duty payable upon a conveyance on sale of the property; and in default of such production, the duty with interest thereon at the rate of five per cent. per annum from the passing of the Act, date of vesting, or completion of the purchase, as the case may be, shall be a debt to Her Majesty from such person.

Extension of 54 & 55 Vict. c. 39. s. 98 to policies of insurance for sickness.

13. [Recital.] “A policy of insurance for any payment agreed to be made during the sickness of any person or “his incapacity from personal injury within the meaning of the Stamp Act, 1891, includes a notice or advertisement in a newspaper or other publication which purports to insure such payment.

Amendment of 54 & 55 Vict. c. 39. as to the payment of stamp duty on certain foreign securities.

14. When foreign securities within the meaning of sections eighty-two and eighty-three of the Stamp Act, 1891, are issued in the United Kingdom, and the interest thereon is not payable in the United Kingdom, and such evidence of the amount of the securities as the Commissioners of Inland Revenue require is produced to them, then the Commissioners, if in their discretion they consider it expedient to do so, may accept payment of the amount of stamp duty which would be payable if all the said securities were duly stamped, and on such payment may dispense with the necessity of the securities being stamped. The Commissioners shall give notice in the London Gazette of any such dispensation.

[S. 15 rep. 8 Edw. 7. c. 49 (S.L.R.).]

Extension to companies of 46 & 47 Vict. c. 52. s. 144 as to exemption from stamp duty. 53 & 54 Vict. c. 63.

16. Section one hundred and forty-four of the Bankruptcy Act, 1883 (which exempts from stamp duty certain documents relating to the estates of bankrupts and to bankruptcies), shall apply to the estates of companies wound up by order of the Court under the Companies Winding-up Act, 1890,[1] and to such winding up, in like manner as if the company were a bankrupt and the winding up were a bankruptcy; and proceedings under section fifteen of the latter Act shall for this purpose be part of the proceedings in the winding up.

[Ss. 17, 18 being Part III. (“Income Tax,”) rep. 8 Edw. 7. c. 49 (S.L.R.).].

Part IV.


[S. 19 rep. 8 Edw. 7. c. 49 (S.L.R.).]

Short title.

20. This Act may be cited as the Finance Act, 1895.

[Sched. rep. 8 Edw. 7. c. 49 (S.L.R.).]

[1 Short title “The Finance Act, 1895,” see s. 20.]

[2 Substituted for “twopence” by 2 Edw. 7. c. 7. s. 5 (1).]

[1 Rep. 8 Edw. 7. c. 69. s. 286; see now that Act.]