Finance (No. 2) Act 1915

1. Introductory Text

2. PART I Customs and Excise

   1. 1. Increased duty on tea

   2. 2. Additional duties on cocoa

   3. 3. Additional duties on coffee

   4. 4. Additional duties on chicory

   5. 5. Additional Excise duty on coffee substitutes, &c

   6. 6. Increased Customs duties on sugar, &c

   7. 7. Excise duties on sugar, &c

   8. 8. Additional duties on dried fruit

   9. 9. Additional duties on tobacco

   10. 10. Additional duty on motor spirit

   11. 11. Additional medicine duties

   12. 12. New import duties

   13. 13. Supplemental provisions as to new import duties

   14. 14. Allowance and repayment of duty in respect of motor spirit used by veterinary surgeons

   15. 15. Restriction of delivery of goods from bond

   16. 16. Increase of penalty for false declarations, &c

   17. 17. Rate of reduction of licence duty where sale of liquor is curtailed

   18. 18. Repeal of s.2 of 2 & 3 Geo.5 c.8

   19. 19. New tables for ascertaining weight and strength of spirits

3. PART II Income Tax

   1. 20. Increase of income tax

   2. 21. Reduction of exemption and abatements

   3. 22. Charge of Schedule B tax

   4. 23. Extension of scale of super-tax

   5. 24. Extension of relief in respect of children

   6. 25. Power for soldiers and sailors to claim pre-war rates of income tax in certain cases

   7. 26. Relief in respect of premiums on policies

   8. 27. Quarterly assessment and charge of employed persons

   9. 28. Supplemental provisions as to quarterly assessment

   10. 29. Extension of time for claim of relief on account of earned income

   11. 30. Income tax on securities representing a bank's subscription to war loan

   12. 31. Provisions with respect to the charge of income tax on non-residents

   13. 32. Place for assessment of income tax

   14. 33. Payment of income tax by instalments in certain cases

   15. 34. Deductions in respect of Schedule A tax in Scotland

   16. 35. Computation of profits and gains in relation to excess profits duty

   17. 36. Service of notices by post

   18. 37. Amendments to have effect in current income tax year

4. PART III Excess Profits Duty

   1. 38. Charge of excess profits duty

   2. 39. Trades and businesses to which excess profits duty applies

   3. 40. Determination of profits and pre-war standard

   4. 41. Adjustments for increased or decreased capital

   5. 42. Reference to the Board of Referees of questions as to increase of percentages, &c

   6. 43. Excess mineral rights duty

   7. 44. Returns for purpose of Part III, and penalty for fictitious transactions

   8. 45. Supplemental provisions as to excess profits duty

5. PART IV General

   1. 46. Extension of 4 & 5 Geo.5 c.76 to legacy and succession duty

   2. 47. Power of Treasury to issue securities free of taxation

   3. 48. Procedure on death of person entitled to Government stock

   4. 49. Suspension of road improvement grant

   5. 50. Rules and regulations to be laid before Parliament

   6. 51. Construction, repeal, and short title

6. SCHEDULES.

   1. FIRST SCHEDULE

      SUGAR, etc.

      1. PART I Duties

      2. PART II Drawbacks and Allowances

      3. PART III Provisions as to Excise Duties

         1. 1. No excise duty shall be charged, on sugar made from...

         2. 2. A manufacturer's licence under this Act shall not be required...

         3. 3. The Commissioners of Customs and Excise may make regulations prohibiting...

         4. 4. The powers given to the Commissioners of Customs and Excise...

   2. SECOND SCHEDULE

      TOBACCO

      1. PART I Additional Customs Duties

      2. PART II Additional Excise Duties

      3. PART III Rates of Drawback

   3. THIRD SCHEDULE

   4. FOURTH SCHEDULE

      1. PART I Computation of Profits

         1. 1. The profits shall be taken to be the actual profits...

         2. 2. The principle of the Income Tax Acts under which deductions...

         3. 3. Deductions for wear and tear or for any expenditure of...

         4. 4. Deductions shall not be allowed on account of the liability...

         5. 5. Any deduction allowed for the remuneration of directors, managers, and...

         6. 6. Where any company,- either in its own name or that...

         7. 7. Where in the case of any trade or business—

         8. 8. In estimating the profits no account shall be taken of...

         9. 9. In computing the total profits of a local authority from...

         10. 10. In the case of societies registered under the Industrial and...

         11. 11. In the case of any contract extending beyond one accounting...

      2. PART II Pre-War Standard

         1. 1. The profits of any pre-war trade year shall be computed...

         2. 2. Where the accounting period for which the excess profits duty...

         3. 3. Where it is shown to the satisfaction of the Commissioners...

         4. 4. Where owing to the recent commencement of a trade or...

         5. 5. Where since the commencement of the three last pre-war trade...

         6. 6. It is hereby declared that, where any business or trade...

      3. PART III Capital

         1. 1. The amount of the capital of a trade-or business shall,...

         2. 2. Any capital the income on which is-not taken into account...

         3. 3. Where any asset has been paid for otherwise than in...

   5. FIFTH SCHEDULE

      Enactments Repealed