Finance Act 1953

1. Introductory Text

2. PART I Customs and Excise

   1. 1. Continuation of duties on hops, etc. and beer

   2. 2. Postponement of payment of excise duty on certain beers brewed by brewers for sale

   3. 3. Customs duty on mechanical lighters

   4. 4. Import duties on certain sound-recorded material

   5. 5. Reduction of mechanically propelled vehicles duty in respect of certain motor-cycle combinations

   6. 6. Mechanically propelled vehicles duty on agricultural tractors carrying fitted implements

   7. 7. Exemption from entertainments duty of certain amateur sports and entertainments

   8. 8. Exemption of cricket matches from entertainments duty

   9. 9. Entertainments duty on lump sum payments, etc.

3. PART II Purchase Tax

   1. 10. Relief and reduction of purchase tax on certain goods

   2. 11. General provisions as to rates of purchase tax

4. PART III Income Tax, Profits Tax and Excess Profits Levy

   1. Income tax (charge, rates and reliefs)

      1. 12. Charge and rates of income tax for 1953-54

      2. 13. Surtax rates for 1952-53

      3. 14. Changes in old age and other personal reliefs

      4. 15. Adjustment of general tax liability by reference to business losses, etc.

   2. Capital allowances, etc.

      1. 16. Restoration and amount of initial allowances

      2. 17. Capital allowances (new classes of industrial building)

      3. 18. Allowances for expenditure on repair of buildings

   3. Computation of profits, etc.

      1. 19. Changes in ownership of trade, etc.

      2. 20. Payments between associated companies in respect of losses

      3. 21. Unremittable overseas profits

      4. 22. Relief for copyright royalties, etc.

      5. 23. Compulsory slaughter of farm animals (election for " the herd basis ")

      6. 24. Charge of tax on sums applied outside U.K. in repaying certain loans

   4. Double taxation relief

      1. 25. Postponement of capital allowances to secure double taxation relief

      2. 26. Removal of special limit on unilateral relief for double taxation of profits or income

   5. Termination, etc., of excess profits levy

      1. 27. Termination and amendment of excess profits levy

   6. Miscellaneous

      1. 28. Iron and steel companies (profits tax and excess profits levy)

      2. 29. Assessments, etc., in Isles of Scilly

5. PART IV Miscellaneous and General

   1. 30. Extension of power to accept property in satisfaction of death duties

   2. 31. Stamp duties

   3. 32. Excess profits tax post-war refunds

   4. 33. Proceedings for customs and excise penalties, etc.

   5. 34. Provisions as to permanent annual charge for the National Debt and as to the Old Sinking Fund

   6. 35. Short title, construction, extent and repeals

6. SCHEDULES

   1. FIRST SCHEDULE

      Duties on Exposed Cinematograph Film

      1. 1. Where the rate of duty applicable to any class or...

      2. 2. The rates of duty shown in the Second Schedule to...

      3. 3. The provisions of subsection (2) of section four of this...

   2. SECOND SCHEDULE

      Relief and reduction of Purchase Tax on Certain Goods

      1. 1. In paragraph (b) of Group 18 (which relates to wireless...

      2. 2. In paragraph (a) of Group 19 (which relates to musical...

      3. 3. In paragraph (a) of Group 21 (which relates to umbrellas...

      4. 4. For Group 29 (which relates to fancy or ornamental articles)...

      5. 5. In paragraph (b) of Group 35 (which relates to bicycles...

      6. 6. In paragraph (c) of the said Group 35 (which exempts...

   3. THIRD SCHEDULE

      Repeals

      1. PART I Customs, Excise and Purchase Tax

      2. PART II Excess Profits Tax Refunds

      3. PART III Miscellaneous