Sec. 56 (2) of the Stamp Act 1891 provides as follows:-‘Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically for a definite period exceeding twenty years or in perpetuity, or for any indefinite period not terminable with life, the conveyance is to be charged in … Continue reading Underground Electric Railway Co of London v Commissioners of Inland Revenue: HL 15 Dec 1905

The claimants sought to reduce liability for stamp duty by arranging an intermediate sale to a company followed by a scheme of regular payments. Held: The scheme was not effective to save stamp duty. The combined effect of the sections was to impose the liability for duty on the considerations paid by both the purchaser … Continue reading Robin Alexis Justin Keston, Helen Janet Keston v Commissioners of Inland Revenue: ChD 27 Jan 2004