Source: http://www.legislation.gov.uk/ukpga/1999/16/schedule/14
Timestamp: 2013-05-25 15:43:19
Document Index: 242326165

Matched Legal Cases: ['art. 3', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 3', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 2', 'art. 4', 'art. 2']

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Changes to legislation:There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 1999. Any changes that have already been made by the team appear in the content and are referenced with annotations.Changes to LegislationRevised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.Changes and effects yet to be applied to :Changes and effectsThis section lists the changes and effects yet to be applied to the specific provision you are viewing.Sch. 14 para. 9 omitted by 2008 c. 9 s. 100(2)Sch. 14 para. 10(b) omitted by 2008 c. 9 Sch. 32 para. 20Sch. 14 para. 11(b) omitted by 2008 c. 9 Sch. 32 para. 20Sch. 14 para. 12(3) omitted by 2008 c. 9 Sch. 32 para. 20Sch. 14 para. 13(3) omitted by 2008 c. 9 Sch. 32 para. 20Sch. 14 para. 6 omitted by 2012 c. 14 Sch. 39 para. 3(2)(c)Sch. 14 para. 15 omitted by 2012 c. 14 Sch. 39 para. 5(2)(b)Changes and effects yet to be applied to the whole Act, associated Parts and Chapters:Changes and effectsThis section lists the changes and effects yet to be applied to the whole Act, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.Blanket amendment words substituted by S.I. 2011/1043 art. 3 4Blanket amendment words substituted by S.I. 2011/1043 art. 3 6Commencement Orders yet to be applied to the Finance Act 1999:Commencement OrdersThis section lists the commencement orders yet to be applied to the whole Act. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing. Where applicable the commencement orders are listed under two headings, firstly those that bring some part of the Act you are viewing into force and secondly, those that bring into force legislation that affects some part of the legislation you are viewing. If you are viewing a prospective version or there is a prospective version available there may be commencement orders listed here that are relevant to the provision you are viewing.Commencement Orders bringing legislation that affects this Act into force:S.I. 2003/392 art. 2 commences (2002 c. 21)S.I. 2003/938 art. 2 Sch. commences (2002 c. 21)S.I. 2003/962 art. 2(3) (4) Sch. 1 2 commences (2002 c. 21)S.I. 2003/1900 art. 2(1) Sch. 1 commences (2003 c. 21)S.I. 2003/3142 art. 3(2) commences (2003 c. 21)S.I. 2005/1126 art. 2 commences (2005 c. 11)S.I. 2009/402 art. 2 commences (2008 c. 9)S.I. 2009/404 art. 2 commences (2008 c. 9)S.I. 2009/571 art. 2-5 commences (2008 c. 9)S.I. 2010/128 art. 2 commences (2006 c. 18)S.I. 2010/495 art. 4(d) commences (2006 c. 18)S.S.I. 2003/456 art. 2 commences (2000 asp 5)Section 112(4).SCHEDULE 14E+W+S+N.I. Stamp duty: amendments consequential on section 112 General amendmentsE+W+S+N.I.1(1)Any reference (express or implied) in any enactment, instrument or other document to any of the headings in Schedule 1 to the M1Stamp Act 1891 (other than the heading “Bearer Instrument”) shall be construed, so far as is required for continuing its effect, as being or, as the case may require, including a reference to the corresponding provision of Schedule 13 to this Act.E+W+S+N.I.(2)Sub-paragraph (1)—(a)has effect subject to any express amendment made by this Act, and(b)is without prejudice to the general application of section 17(2) of the M2Interpretation Act 1978 (general effect of repeal and re-enactment).Annotations:Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.Marginal CitationsM11891 c.39. M21978 c.30. 2In the enactments relating to stamp duty for “lease or tack”, wherever occurring, substitute “ lease ”.E+W+S+N.I. Finance Act 1930 (c.28)E+W+S+N.I.3In section 42(1) of the Finance Act 1930 (relief from transfer duty in case of transfer between associated companies) for “the heading “Conveyance or Transfer on Sale” in the First Schedule to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.E+W+S+N.I. Finance Act (Northern Ireland) 1954 (c.23 (N.I.))E+W+S+N.I.4In section 11(1) of the Finance Act (Northern Ireland) 1954 (relief from transfer duty in case of transfer between associated companies) for “the heading “Conveyance or Transfer on sale” in the First Schedule to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.E+W+S+N.I. Finance Act 1970 (c.24)E+W+S+N.I.5In section 33(1) of the Finance Act 1970 (composition by stock exchange in respect of transfer duty), for the words from “the heading” to “1891” substitute “ Part I or paragraph 16 of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale or otherwise) ”.E+W+S+N.I. Finance Act 1980 (c.48)E+W+S+N.I.6In section 97(1) of the Finance Act 1980 (shared ownership transactions)—E+W+S+N.I.(a)for “the heading “Lease or Tack” in Schedule 1 to the Stamp Act 1891” substitute “ Part II of Schedule 13 to the Finance Act 1999 (lease) ”; and(b)for “the heading “Conveyance or Transfer on Sale” in that Schedule” substitute “ Part I of that Schedule (conveyance or transfer on sale) ”. Finance Act 1982 (c.39)E+W+S+N.I.7In section 129(1) of the Finance Act 1982 (exemption from duty on grants, transfers to charities, etc.) for the words from “by virtue of any of the following headings” to “ “Lease or Tack”,” substitute “ under Part I or II, or paragraph 16, of Schedule 13 to the Finance Act 1999 ”.E+W+S+N.I. Finance Act 1985 (c.54)E+W+S+N.I.8(1)Section 81 of the Finance Act 1985 (renounceable letters of allotment, etc.) is amended as follows.E+W+S+N.I.(2)For subsection (2) substitute—“(2)The instrument shall not be exempt by virtue of paragraph 24(d) of Schedule 13 to the Finance Act 1999 (renounceable letters of allotment, etc.) from stamp duty under or by reference to Part I of that Schedule (conveyance or transfer on sale).”.
(3)In subsection (3) for the words from “section 126(1)” to “126(2) or (3)” substitute “ section 79(4) of the Finance Act 1986 does not apply by virtue of section 79(5) or (6) ”.9In section 82(5) of the Finance Act 1985 for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.E+W+S+N.I.10In section 83 of the Finance Act 1985 (duty on transfers in connection with divorce etc.)—E+W+S+N.I.(a)in subsection (1) for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”;(b)in subsection (2) for “50p” substitute “ £5 ”.11In section 84 of the Finance Act 1985 (duty on instruments varying dispositions on death etc.)—E+W+S+N.I.(a)in subsection (1) for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”;(b)in subsection (8) for “50p” substitute “ £5 ”. Finance Act 1986 (c.41)E+W+S+N.I.12(1)Section 67 of the Finance Act 1986 (depositary receipts) is amended as follows.E+W+S+N.I.(2)For subsections (2) and (3) substitute—“(2)If stamp duty is chargeable on the instrument under Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale), the rate at which that duty is chargeable is 1.5% of the amount or value of the consideration for the sale to which the instrument gives effect.
(3)If stamp duty is chargeable on the instrument under paragraph 16 of Schedule 13 to the Finance Act 1999 (conveyance or transfer otherwise than on sale), then, subject to subsection (5), the rate at which that duty is chargeable is 1.5% of the value of the securities at the date the instrument is executed.”.
(3)In subsection (9) (duty on transfers between one depositary company and another) for “maximum stamp duty chargeable on the instrument shall be 50p” substitute “ stamp duty chargeable on the instrument is £5 ”.13(1)Section 70 of the Finance Act 1986 (clearance services) is amended as follows.E+W+S+N.I.(2)For subsections (2) and (3) substitute—“(2)If stamp duty is chargeable on the instrument under Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale), the rate at which that duty is chargeable is 1.5% of the amount or value of the consideration for the sale to which the instrument gives effect.
(3)In subsection (9) (duty on transfers between one clearance service company and another) for “maximum stamp duty chargeable on the instrument shall be 50p” substitute “ stamp duty chargeable on the instrument is £5 ”.14In section 75(2) of the Finance Act 1986 (acquisitions: further provisions about reliefs) for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.E+W+S+N.I.15(1)Section 76 of the Finance Act 1986 (relief from stamp duty on company acquisition) is amended as follows.E+W+S+N.I.(2)In subsection (2) for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.(3)In subsection (4) (limit on rate of duty), for “the rate of 50p for every £100 or part of £100” substitute “ 0.5% ”.16In section 77(1) of the Finance Act 1986 (acquisition of target company’s share capital) for “the heading ’Conveyance or Transfer on Sale’ in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.E+W+S+N.I.17In section 79 of the Finance Act 1986 (loan capital: new provisions), for subsection (8) substitute—E+W+S+N.I.“(8)Where stamp duty is chargeable under Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) on an instrument which transfers loan capital, the rate at which duty is charged under that Part shall be 0.5% of the amount or value of the consideration for the sale to which the instrument gives effect.”.
18In section 80B(7) of the Finance Act 1986 (intermediaries: power of Treasury to specify rate of duty), for “10p for every £100 or part of £100” substitute “ 0.1% ”.E+W+S+N.I.19In section 80C(8) of the Finance Act 1986 (repos and stock lending: power of Treasury to specify rate of duty), for “10p for every £100 or part of £100” substitute “ 0.1% ”.E+W+S+N.I.20(1)Section 88 of the Finance Act 1986 (stamp duty reserve tax: special cases) is amended as follows.E+W+S+N.I.(2)In subsection (1) for paragraphs (aa) and (ab) substitute—“(aa)paragraph 24(d) of Schedule 13 to the Finance Act 1999 (renounceable letters of allotment etc.),”.
(3)In subsection (1A)(b) for “50p” substitute “ £5 ”. Finance Act 1987 (c.16)E+W+S+N.I.21In section 50(1) of the Finance Act 1987 (warrants to purchase government stock etc.), for the words from “either of the following headings” to the end substitute “ Part I, or paragraph 16, of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale or otherwise) ”.E+W+S+N.I.22In section 55(1) of the Finance Act 1987 (Crown exemption), for the words from “by virtue of any of the following headings” to “ “Lease or Tack”,” substitute “ under Part I or II, or paragraph 16, of Schedule 13 to the Finance Act 1999 ”.E+W+S+N.I. Finance Act 1989 (c.26)E+W+S+N.I.23In section 175(1) of the Finance Act 1989 (stock exchange nominees: power to exclude double charge), in paragraph (a) (circumstances in which power exercisable) for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.E+W+S+N.I. National Health Service and Community Care Act 1990 (c.19)E+W+S+N.I.24In section 61(3) of the National Health Service and Community Care Act 1990 for the words from “by virtue of any of the following headings” to “ “Lease or Tack”,” substitute “ under Part I or II, or paragraph 16, of Schedule 13 to the Finance Act 1999 ”.E+W+S+N.I. Finance Act 1991 (c.31)E+W+S+N.I.25In section 110 of the Finance Act 1991 (stamp duty to be abolished in certain cases), for subsections (1) to (4) substitute—E+W+S+N.I.“(1)Where apart from this section stamp duty under any of the provisions of Schedule 13 to the Finance Act 1999 would be chargeable on an instrument, stamp duty shall not be so chargeable if the property consists entirely of exempt property.”.
26In section 111(1) of the Finance Act 1991 (stamp duty to be reduced in certain cases) for “the heading “conveyance or transfer on sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.E+W+S+N.I.27In section 113 of the Finance Act 1991 (certification of instruments for stamp duty purposes), for subsections (1) to (3) substitute—E+W+S+N.I.“(1)For the purposes of paragraph 6(1) of Schedule 13 to the Finance Act 1999 (meaning of instrument being certified at an amount)—
Finance Act 1993 (c.34)E+W+S+N.I.28(1)Section 202 of the Finance Act 1993 (rent to mortgage: England and Wales) is amended as follows.E+W+S+N.I.(2)In subsection (2) for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.(3)In subsection (4)(a)—(a)for “the heading ’Lease or Tack’ in Schedule 1 to the Stamp Act 1891” substitute “ Part II of Schedule 13 to the Finance Act 1999 (lease) ”; and(b)for “the heading ’Conveyance or Transfer on Sale’ in that Schedule” substitute “ Part I of that Schedule (conveyance or transfer on sale) ”.(4)In subsection (4)(b) for “the heading ’Conveyance or Transfer on Sale’” substitute “ Part I of that Schedule ”.29In section 203(2) of the Finance Act 1993 (rent to loan: Scotland), for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.E+W+S+N.I. Finance Act 1994 (c.9)E+W+S+N.I.30In section 241(1) of the Finance Act 1994 (consideration consisting of property)—E+W+S+N.I.(a)in paragraph (a) for “lease or tack” substitute “ lease ”;(b)in paragraph (b) for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.31(1)Section 242 of the Finance Act 1994 (consideration not ascertainable from conveyance or lease) is amended as follows.E+W+S+N.I.(2)In subsections (1) (twice), (2) and (3) (twice) for “lease or tack” substitute “ lease ”.(3)In the opening words of subsection (1) for “the heading “Conveyance or Transfer on Sale” in Schedule 1 to the Stamp Act 1891” substitute “ Part I of Schedule 13 to the Finance Act 1999 (conveyance or transfer on sale) ”.(4)In subsection (2) for “paragraph (3) of the heading “Lease or Tack” in Schedule 1 to that Act” substitute “ paragraph 12 of Schedule 13 to the Finance Act 1999 ”.32In section 243 of the Finance Act 1994 (agreements to surrender leases) for “any duty chargeable under the Stamp Act 1891” substitute “ stamp duty ”.E+W+S+N.I. Finance Act 1995 (c.4)E+W+S+N.I.33In section 151 of the Finance Act 1995 (lease or tack: associated bodies)—E+W+S+N.I.(a)in subsection (1) for “the heading “Lease or Tack” in Schedule 1 to the Stamp Act 1891” substitute “ Part II of Schedule 13 to the Finance Act 1999 (lease) ”;(b)in subsections (1) (twice), (2), (3) and (6) (four times) for “lease or tack” substitute “ lease ”.Previous: ScheduleNext: ScheduleBack to topOptions/HelpPrint OptionsPrint The Whole ActPDF The Whole ActWeb page The Whole ActPrint This Schedule onlyPDF This Schedule onlyWeb page This Schedule onlyYou have chosen to open The Whole ActThe Whole Act you have selected contains over 200 provisions and might take some time to download. 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