Stamp Duties Consolidation Act 1999 section 124A

Preliminary duty: credit and charge cards

Section 124A required banks and promoters of credit cards and charge cards to pay a preliminary stamp duty each December, equal to 80 per cent of the duty charged on the previous year's card duty statement.

• Applied to accountable persons (banks and promoters) required to deliver a specified statement under section 124.
• Preliminary duty was set at 80 per cent of the stamp duty charged on the previous base period's specified statement.
• The statement and payment were due by 15 December each year, starting in 2008.
• The section was repealed by Finance Act 2021 with effect from 1 January 2023 and no longer applies to statements due after 15 December 2022.