Duty Acts now in force, or in respect of any succession under the Succession Duty Act, 1853, is in arrear, the person by whom the arrears of duty may be payable shall be liable to pay interest thereon at the rate of 4 per cent. per annum; and such interest shall be recoverable in the same manner as the arrears of duty and as part thereof provided always that the acceptance or recovery by the Commissioners of arrears of duty, with interest thereon, shall be an absolute waiver of the penalties (if any) which may have been incurred under the Legacy Duty Acts or the Succession Duty Act.

303. Discharge of Executor from Claim to Duty.—Where an executor shall give written notice to the Commissioners for any claim to legacy or succession duty in respect of any funds in his hands which he intends to distribute, and shall have delivered to them all particulars which they may require in order to ascertain the existence and extent of any such claim, he shall be at liberty to distribute the fund amongst the parties entitled thereto after satisfaction of any claims to duty made by the Commissioners, and shall be entitled to receive from them a discharge from his liability to duty in respect of the fund.(d)

304. Legacy Receipt.-Subject to the provision in the preceding section, no legacy liable to duty is to be paid without a receipt containing certain particulars, and no receipt shall be available unless duly stamped.(e) Every legacy receipt must be dated on the day of signing, and the duty thereon paid within twenty-one days from the date thereof, under a penalty of 10 per cent. on the amount of the duty; and if the duty shall not be paid within three months from the date of the receipt, a penalty will then be incurred of 10 per cent. on the amount or value of the legacy.(f) The following is the form of receipt required at the stamp-office upon tendering the duty on legacies:FORM NO L.-INLAND REVENUE, EDINBURGH.-Receipt and Discharge for any Specific, Pecuniary, or other Legacy given out of Personal Estate, or out of or chargeable upon Real Estate, or out of Monies arising by the Sale or Burdening of Real Estate, and for the Residue, or any Share of Residue of Personal Estate, or

*This form is for property chargeable under the Legacy Duty Acts. A separate form is supplied for property chargeable under the Succession Duty Act.

(d) 43 Vict. c. 14, § 12.

(e) 36 Geo. III. c. 52, § 27

(f) See § 302 as to penalties.

the Residue, or any Share of Residue of Monies arising by the Sale or Burdening of Real Estate, and given or devolving to, or for the benefit of any Child, or Descendant of any Child, or the Father or Mother, or any Lineal Ancestor, or to Collateral Relations, or Strangers in Blood to the Deceased, pursuant to Acts 36 Geo. III. c. 52, 45 Geo. III. c. 28, and 55 Geo. III. c. 184.

An inventory of the deceased's estate was recorded in the SheriffCourt Books of

on the

day of

18 Folio.

Acting under trust-deed of settlement or will, executed by the deceased, or decree-dative by the Sheriff-Clerk of

dated the

+ If a legacy be satisfied out of real estate, the word "real" must be substituted for "personal."

If the legacy became payable on the death of any person other than the testator, please insert the particulars here.

§ In cases of legacies given in trust for infants, then state, in the space above,

estate above mentioned, having first allowed or paid to

The receipt must be dated on the day of signing, and the duty paid within twenty-one days after, under a penalty of £10 per cent. on the amount of the duty; and if the duty is not paid within three months from the date of the receipt, a penalty will be incurred of £10 per cent. on the amount or value of the legacy

All rents, interests, or dividends of legacies down to the date of the receipt must be added to the legacy and duty paid thereon.

This form is frequently signed by the executor only as retaining the legacy, and therefore cannot, although stamped, be a sufficient discharge for the payment by him of anything but the duty. "In trust for the said legatee, a minor; or if given to be enjoyed by different persons in succession, all chargeable with the same rate of duty, or subjected to any contingency, or power of appointment, or bequeathed in any other special manner to or for more than one person, then state the particulars of such bequest.

¶ If the legacy be‘retained in trust,” substitute those words for the word “received.” On legacies given in succession to persons chargeable with different rates of duty, the persons entitled for life only are to pay duty as annuitants, and must therefore give their receipt in the form to be used for annuities, No. II.

In cases of residues, or shares of residues of personal estate, retained by executors or administrators, either to their own use, as residuary legatees, or next-of-kin, or as trustees for the use and benefit of others, and in cases of residues, or shares of residues of monies arising from real estate, retained by executors or trustees in like manner, a particular account must be given of the property, according to a printed form, No. III., provided for the purpose, and to be had at the Inland Revenue Office, or of the distributors of stamps.

If a legacy be satisfied out of real estate, the word "real" must be substituted for "personal."

Where this is the case, he should, upon paying the legacy, get a receipt from the legatee, stamped with an ordinary receipt stamp. But if the legatee signs the above form of receipt before it has been stamped, no receipt stamp is required.(g)

305. Annuity Receipt.-The following is the form of receipt required at the stamp-office :

FORM No. II.*-INLAND REVENUE, EDINBURGH.-Receipt and Discharge for any Gift or Legacy by way of Annuity, payable out of Real or Personal Estate, to any Child, or Descendant of any Child, or to the Father or Mother, or any Lineal Ancestor, or to Collateral Relations or Strangers in Blood to the Deceased, pursuant to Acts 36 Geo. III. c. 52, 45 Geo. III. c. 28, and 55 Geo. III. c. 184.

An inventory of the deceased's estate was recorded in the Commissary-Court Books of

the

day of

18

Note.-By Stat. 16 & 17 Vict. c. 51, § 31, the values of annuities, whether for life or years, are to be calculated by the tables annexed to that Act, and the duty chargeable thereon, to be paid by four equal instalments, out of the first four annual payments of the annuity.

Interest at the rate of four per centum per annum is payable, in all cases, from the time when each instalment falls due (31 & 32 Vict. c. 124, § 9).

Acting under trust-deed of settlement or will executed by the deceased, or decree-dative by the Commissar

of

One thousand eight hundred and

dated AND

This form is for property chargeable under the Legacy Duty Acts. A separate form is supplied for property chargeable under the Succession Duty Act.

+ Or personal, if payable out of the moveable estate.

If the annuity became payable on the death of any person other than the testator, please insert the particulars here.

(g) 36 Geo. III. c. 52, § 41.

The value of an annuity falls to be computed from the tables annexed to the Succession Duty Act, 1853.(h) For example, if the annuity amounts to £100, and the annuitant is forty years of age, the value of the annuity is £1487, 10s., 1 per cent. upon which is £14, 17s. 10s., which is the duty chargeable. The duty

§ Or retained in trust.

+ Or personal, if payable out of the moveable estate.

(h) 16 & 17 Vict. c. 51. See also § 272, supra.