Modifications etc. (not altering text)
C1Pt. IV (ss. 38–50) repealed so far as it relates to income tax by Income Tax Act 1952 (c. 10), s. 527, Sch. 25
Modifications etc. (not altering text)
C2The text of ss. 34, 35, 36, 38, 46, 47, 48, 50, 51, 58, 59, Schs. 5, 6, 8 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, save as indicated, does not reflect any amendments or repeals which may have been made prior to 1.2.1991
Where after the end of the year nineteen hundred and forty-five, excess profits tax is due and payable in respect of any relevant chargeable accounting period and, if that tax were paid, a sum would ( . . . F1) be payable for or on account of a post-war refund, the Commissioners may, if they think fit, . . . F1, give credit for the amount of the sum payable as aforesaid, after deduction of tax at the standard rate for the year 1946-47, against the same amount of the excess profits tax which is due and payable as aforesaid, and, where credit is so given, the amount for which credit is given shall be deemed to have been paid to the Commissioners and repaid by them . . . F1:
Provided that the amount deemed to have been repaid by the Commissioners shall for the purposes of income tax be treated as a payment made after deduction of income tax at the standard rate for the year 1946-47.
Textual Amendments
F1Words repealed by Finance Act 1953 (c. 34), ss. 32(1)(5), 35(7), Sch. 3 Pt. II
Modifications etc. (not altering text)
C3The text of ss. 34, 35, 36, 38, 46, 47, 48, 50, 51, 58, 59, Schs. 5, 6, 8 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, save as indicated, does not reflect any amendments or repeals which may have been made prior to 1.2.1991