Stamp Act
Article by liumingliang
Stamp acts in Britain and America
English and United Kingdom Stamp Acts
1694 Stamp Act
A Stamp Duty was first introduced in England in 1694 following the Dutch model as An act for granting to Their Majesties several duties on Vellum, Parchment and Paper for 10 years, towards carrying on the war against France (5 & 6 Will. & Mar. c. 21). The duty ranged between 1 penny to several shillings on a number of different legal documents including insurance policies, documents used as evidence in courts, grants of honour, grants of probate and letters of administration. It raised around 50,000 pounds a year and although it was initially a temporary measure, it proved so successful that its use was continued. The British Stamp Act was the taxing of paper products by payable stamps.
1891 Stamp Act and Stamp Duties Management Act
All the above Acts were superseded by the Stamp Duties Management Act 1891 and the Stamp Act 1891 which still constitute the bulk of UK law on Stamp Duties today..
The modern UK Stamp Act
In 1914 The Director of Stamping at the Stamp Office oversaw the production of the first Treasury Notes (later called banknotes, not to be confused with US Treasury notes). This lasted until 1928 when production of banknotes passed from the Department to the Bank of England. In 1963 production of postage stamps passed to the General Post Office.
The Finance Act 1986 introduced Stamp Duty Reserve Tax. From 27 October 1986 the charge was imposed on 'closing' transactions at the London Stock Exchange which until then had been transactions where no document was used and therefore exempt from Stamp Duty.
A public display of Stamp Office artifacts and records was held at the Courtauld Institute in 1994 to commemorate the three hundredth anniversary of the introduction of UK Stamp Duty. The Stamp Office was also awarded the Charter Mark by John Major's Advisory Committee as a reward for its public service.
Stamp duties are the oldest taxes still raised by the HM Revenue and Customs.
American Stamp Acts
1765 Stamp Act
Main article: Stamp Act 1765
The Stamp Act of 1765 was the first stamp act to be passed by the Parliament of Great Britain and required all legal documents, permits, commercial contracts, almanacs, newspapers, wills, pamphlets, and playing cards in the American colonies to carry a tax stamp. The act was enacted in order to pay for a portion of the costs of maintaining an army in the territories gained in North America during the Seven Years' War. However, colonists protested that a tax laid upon them by a legislature in which they were not represented violated the British constitutional right of no taxation without representation. Colonial resistance to the act led to its repeal on March 18, 1766.
References
^ Russell, David Lee (2000). The American Revolution in the Southern Colonies. McFarland & Company. p. 27. ISBN 9780786407835.
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United Kingdom legislation
Acts of Parliament by states preceding
the Kingdom of Great Britain
Acts of Parliament of England to 1601 16031641 Interregnum (16421660) 16601699 17001706
Acts of Parliament of Scotland
Acts of the Parliament of Ireland to 1700 17011800
Acts of Parliament of the
Kingdom of Great Britain
17071719 17201739 17401759 17601779 17801800
Acts of Parliament of The United Kingdom of
Great Britain and Ireland and The United
Kingdom of Great Britain and Northern Ireland
18011819 18201839 18401859 18601879 18801899 19001919 19201939 19401959 19601979 19801999 2000 to date
Church of England Measures
List Church of England Assembly (Powers) Act 1919
Legislation of Devolved institutions
Acts of the Northern Ireland Assembly Northern Ireland Parliament Scottish Parliament
Measures of the Welsh Assembly
Orders in Council for Northern Ireland
Secondary legislation
United Kingdom Statutory Instruments Scottish Statutory Instruments Act of Sederunt
Categories: Taxation | Acts of the Parliament of Great BritainHidden categories: Articles needing additional references from October 2008 | All articles needing additional references
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