Oral Answers to Questions — Stamp Duty (Dividends).

– in the House of Commons on 20th March 1930.

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asked the Chancellor of the Exchequer whether he is aware that slips are sent by companies to banks re payment of dividends to depositors without any twopenny embossed stamp, and that shareholders seldom, if ever, send receipts to companies for receipt of dividends; and whether he will take steps, under the new Finance Act, to compel such persons to pay Stamp Duty?

Photo of Mr Philip Snowden Mr Philip Snowden , Colne Valley

As regards the first part of the question, I am advised that slips of the kind which my hon. Friend has in mind do not attract Stamp Duty. As regards the second, he is no doubt aware that the payee's endorsement of his name on a dividend warrant is not liable to Receipt Stamp Duty. If his suggestion is that the law should be altered so as to make it compulsory to give a receipt in cases where the payer does not require one, I fear that his suggestion is impracticable.