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Calculation and payment of duty on legacies by way of annuity.
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9. And . . . the value of any legacy given by way of annuity, whether payable annually or otherwise, for any life or lives, or for years determinable on any life or lives, or for years or other period of time, shall be calculated, and the duty chargeable thereon shall be charged, according to the tables marked I., II., and III. to this Act annexed [1]
; and the duty chargeable on such annuity shall be paid by four equal payments, the first of which payments of duty shall be made before or on completing the payment of the first year’s annuity, and the three others of such payments of duty shall be made in like manner successively, before or on completing the respective payments of the three succeeding years annuity respectively; and the value of any such annuity, if determinable upon any contingency besides the death of any person or persons, shall be calculated without regard to such contingency: Provided always, that if any such annuity shall determine by the death of any person before four years payment of such annuity shall become due and payable, then and in such case the duty shall be payable in proportion only to so many of the payments of the said annuity as actually accrued and became due and payable; and in case any such annuity shall at any time determine upon any other contingency than the death of any person or persons, than and in such case not only all payments of duty which would otherwise become due after the happening of such contingency, if any such would become due, shall cease, but it shall be lawful for the person or persons who shall have paid any duties which shall have previously become due to apply for and obtain a return of so much of the duty so paid, as will reduce the same to the like duty as would have been payable by such person or persons for such annuity, calculated according to the term for which the same shall have endured; which abatement the said commissioners for the management of the stamp duties shall settle and determine according to the tables in the schedule hereunto annexed [1]
, and shall cause the amount of such abatement to be paid to the person or persons entitled to the same out of any monies in their hands arising from the duties imposed by this Act.
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[1 So much of the schedule to this Act as contains tables of the values of annuities, and rules for inferring the values of annuities, is rep. 36 & 37 Vict. c. 91. (S.L.R.), except as to annuities, the duty on which became payable on or before the 19th day of May 1853.]
[1 So much of the schedule to this Act as contains tables of the values of annuities, and rules for inferring the values of annuities, is rep. 36 & 37 Vict. c. 91. (S.L.R.), except as to annuities, the duty on which became payable on or before the 19th day of May 1853.] |
