SCHEDULE 12 Stamp Duty: Interest and Penalties on Late Stamping
Finance Act 1999 (1999 c 16) | Legislation

SCHEDULE 12 Stamp Duty: Interest and Penalties on Late Stamping

Section 109(3)

Stamp Act 1891 (c 39)

1

For section 12 of the Stamp Act 1891 (assessment of duty by Commissioners) substitute—

“12 Adjudication by Commissioners

(1)     Subject to such regulations as the Commissioners may think fit to make, the Commissioners may be required by any person to adjudicate with reference to any executed instrument upon the questions—

(a)     whether it is chargeable with duty;

(b)     with what amount of duty it is chargeable;

(c)     whether any penalty is payable under section 15B (penalty on late stamping);

(d)     what penalty is in their opinion correct and appropriate.

(2)     The Commissioners may require to be furnished with an abstract of the instrument and with such evidence as they may require as to the facts and circumstances relevant to those questions.

(3)     The Commissioners shall give notice of their decision upon those questions to the person by whom the adjudication was required.

(4)     If the Commissioners decide that the instrument is not chargeable with any duty, it may be stamped with a particular stamp denoting that it has been the subject of adjudication and is not chargeable with any duty.

(5)

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