Revenue – Stamp Act 1870 (33 and 34 Vict. cap. 97), sec. 70 – Consideration for the ‘Conveyance on Sale’ – Lands Clauses (Scotland) Act 1845 (8 Vict. cap. 19), sec. 48 – Compensation for Loss of Business.
In a compulsory sale under the Lands Clauses Act 1845 a jury awarded the owners of the subjects, who were also the occupants, compensation as follows-(1) For the value of land taken, (2) for the value of buildings, machinery, and co., and (3) for loss of business previously carried on by them on the subjects taken. Held ( rev. First Division) that the compensation for loss of business was part of the consideration for the ‘conveyance on sale, ‘within the meaning of the Stamp Act 1870, and that the ad valorem stamp upon the conveyance was to be assessed upon the full amount of compensation.
Judges:
Lord Chancellor (Halsbury), Lords Watson, Fitzgerald and Macnaghten
Citations:
[1887] UKHL 534, 24 SLR 534
Links:
Jurisdiction:
Scotland
Stamp Duty, Land
Updated: 28 June 2022; Ref: scu.636752
