The Stamp Duty (Exempt Instruments) Regulations 1985

• Citation: S.I. 1985/1688
• Sections: 5

Section 1

These Regulations may be cited as the Stamp Duty (Exempt Instruments) Regulations 1985 and shall come into operation on 1st January 1986.

Section 2

In these Regulations unless the context otherwise requires:—

“ Her Majesty's Land Registry ” and “ Chief Land Registrar ” have the same meaning as in section 126(1) of the Land Registration Act 1925 and “ Registered land ” has the same meaning as in section 3 of that Act.

Section 3

For the purposes of section 89 of the Finance Act 1985, the following class of instrument is prescribed:—

Instruments by means of which any transfer on sale within the meaning of paragraphs (a) or (c) of section 28(1) of the Finance Act 1931 is effected and in respect of which the following conditions are fulfilled:—

(a) the instrument is executed on or after the 1st January 1986;

(b) the consideration for the sale in question is of an amount or value such that no stamp duty is chargeable and the instrument is certified in accordance with section 34(4) of the Finance Act 1958; and

(c)

(i) the land in question is registered land; or

(ii) in the case of land which is not registered land it is an instrument—

to which section 123 of the Land Registration Act 1925 applies, or

which effects a transfer in the case of which under rule 72 of the Land Registration Rules 1925 the transferee is deemed to be the applicant for first registration.

Section 4

Where the instrument is of the class of instrument to which Regulation 3 above applies it shall be the duty of the applicant to deliver to the proper office of Her Majesty's Land Registry with his application for registration the instrument of transfer and a document signed by the transferee or by some person on his behalf and showing his address giving all the particulars set out in Schedule 2 to the Finance Act 1931.

Section 5

The Chief Land Registrar shall furnish to the Commissioners of Inland Revenue the said particulars given to him under Regulation 4 above.