Finance Act 1925

1925 CHAPTER 36 15 and 16 Geo 5

An Act to grant certain Duties of Customs and Inland Revenue (including Excise), to alter other Duties, and to amend the law relating to Customs and Inland Revenue (including Excise) and the National Debt, and to make further provision in connection with Finance.

[30th June 1925]X1

Editorial Information

X1 General amendments to Tax Acts, Income Tax Acts, and/or Corporation Tax Acts made by legislation after 1.2.1991 are noted against Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) but not against each Act

Modifications etc. (not altering text)

C1 Words of enactment omitted under authority of Statute Law Revision Act 1948 (c. 62), s. 3

C2 General amendments made by Taxes Management Act 1970 (c. 9, SIF 63:1), s. 41A(7) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 95(1)(2)), British Telecommunications Act 1981 (c. 38, SIF 96), s. 82(2)(7); Telecommunications Act 1984 (c. 12, SIF 96), s. 72(3); Finance Act 1984 (c. 43, SIF 63:1), ss. 82(6), 85(2), 89(1)(7), 96(1)(7), 98(7), Sch. 9 para. 3(2)(9), Sch. 16 paras. 6, 12 and Finance Act 1985 (c. 54, SIF 63:1), ss. 72(1), 74(5), Sch. 23 para. 15(4), S.I. 1987/530, regs. 11(2), 13(1), 14, Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss. 4, 6, 7, 9, 32, 34, 78, 134, 135, 141, 142, 185, 191, 193, 194, 195, 200, 203, 209, 212, 213, 219, 247, 253, 272, 287, 314, 315, 317, 318, 325, 326, 327, 345, 350, 351, 368, 375, 381, 397, 414, 432, 440, 442, 446, 458, 460, 461, 463, 463(2)(3) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 50(2) ), 468, 474, 475, 486, 490, 491, 503, 511, 518, 524, 532, 544, 550, 556, 558, 569, 572, 582, 595, 601, 613, 617, 619, 621, 639, 656, 660, 663, 676, 689, 691, 694, 700, 701, 714, 716, 739, 743, 754, 763, 776, 780, 781, 782, 787, 789, 811, 828, 829, 832, 833, 834, 835, 837, 838, 839, 840, 841, 842, Sch. 2 para. 5, Sch. 4 para. 5, Sch. 13 para. 10, Sch. 16 para. 10, Sch. 21 para. 6, Sch. 26 para. 1, Sch. 27 para. 20, Finance Act 1988 (c. 39, SIF 63:1), ss. 66, 127(1)(6), Sch. 12 para. 6, Capital Allowances Act 1990 (c. 1, SIF 63:1), ss. 28(1), 68(8), 74, 82, 83(5), 148(5), 163(4), 164(2), S.I. 1990/627 and Finance Act 1990 (c. 29, SIF 63:1), s. 25(10)

Commencement Information

I1 Act wholly in force at Royal Assent.

Part I U.K.

1, 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 U.K.

Textual Amendments

F1 Ss. 1, 2 repealed by Statute Law Revision Act 1950 (c. 6)

3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2 U.K.

Textual Amendments

F2 S. 3 repealed by Finance Act 1938 (c. 46), s. 6(1)

4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3 U.K.

Textual Amendments

F3 S. 4 repealed by Import Duties Act 1958 (c. 6), ss. 3(1), 16(4), Schs. 2, 7.

5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4 U.K.

Textual Amendments

F4 S. 5 repealed by Finance Act 1947 (c. 35), s. 5, Sch. 2 Pt. III; S.I. 1950/664 art. 1(3); Statute Law (Repeals) Act 1969

6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5 U.K.

Textual Amendments

F5 S. 6 repealed by Statute Law Revision Act 1950 and Statute Law Revision Act 1953.

7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6 U.K.

Textual Amendments

F6 S. 7 repealed by Statute Law Revision Act 1950 and Finance Act 1957 (c. 49), ss. 3, 42(5), Sch. 9 Pt. II

8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7 U.K.

Textual Amendments

F7 S. 8 repealed by Finance Act 1952 (c. 33), s. 76(8), Sch. 14 Pt. III

9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8 U.K.

Textual Amendments

F8 S. 9 repealed by Import Duties Act 1958 (c. 6), s. 16(4), Sch. 7

10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9 U.K.

Textual Amendments

F9 S. 10 repealed by Finance Act 1933 (c. 19), s. 47, Sch. 8

11, 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10 U.K.

Textual Amendments

F10 Ss 11, 12 repealed by Customs and Excise Act 1952 (c. 44), s. 320, Sch. 12 Pt. I

Part II U.K.

13—21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11 U.K.

Textual Amendments

F11 Ss. 13–21 repealed with saving by Income Tax Act 1952 (c. 10), s. 527, Sch. 25

Part III U.K.

22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F12 U.K.

Textual Amendments

F12 S. 22 repealed by Finance (No. 2) Act 1940 (c. 48), s. 42(8), Sch. 10, and by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), 59, Sch. 13 Pt. I

23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F13 U.K.

Textual Amendments

F13 S. 23 repealed by Finance Act 1969 (c. 32), s. 61(6), Sch. 21 Pt. V, and by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), 59, Sch. 13 Pt. I

24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F14 U.K.

Textual Amendments

F14 S. 24 repealed with savings by Finance Act 1949 (c. 47), s. 52(9)(10), Sch. 11 Pt IV

Part IV U.K. General

25 Liability of Dominion Governments to taxation in respect of trading operations. U.K.

(1) Where a trade or business of any kind is carried on by or on behalf of the Government of any part of His Majesty’s Dominions which is outside Great Britain and Northern Ireland, that Government shall, in respect of the trade or business and of all operations in connection therewith, all property occupied in Great Britain or Northern Ireland and all goods owned in Great Britain or Northern Ireland for the purposes thereof, and all income arising in connection therewith, be liable, in the same manner as in the like case any other person would be, to all taxation for the time being in force in Great Britain or Northern Ireland.

(2) In this section the expression “His Majesty’s Dominions” includes any territory which is under His Majesty’s protection or in respect of which a mandate is being exercised by the Government of any part of His Majesty’s Dominions.

(3) Nothing in this section shall—

(a) affect the immunity of any such Government as aforesaid from taxation in respect of any income or property to which subsection (1) of this section does not apply; . . . F15

(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F15

Textual Amendments

F15 S. 25(3)(b) and word immediately preceding repealed by Statute Law (Repeals) Act 1974 (c. 22), s. 1, Sch. Pt. II

26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F16 U.K.

Textual Amendments

F16 S. 26 repealed with saving by Income Tax Act 1952 (c. 10), s. 527, Sch. 25

27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F17 U.K.

Textual Amendments

F17 S. 27 repealed by Statute Law Revision Act 1953

28 †Construction, short title, application and repeal. U.K.

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F18

(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F19

(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F20

(4) This Act may be cited as the Finance Act, 1925.

(5) Such of the provisions of this Act as relate to matters with respect to which the Parliament of Northern Ireland has power to make laws shall not extend to Northern Ireland.

(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F21

Textual Amendments

F18 S. 28(1) repealed by Import Duties Act 1958 (c. 6), s. 16(4), Sch. 7

F19 S. 28(2) repealed by Statute Law Revision Act 1953 (2 & 3 Eliz. 2 c. 5)

F20 S. 28(3) repealed with saving by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), 59, Sch. 13 Pt. I

F21 S. 28(6) repealed by Statute Law Revision Act 1950 (14 Geo. 6 c. 6)

Modifications etc. (not altering text)

C3 Unreliable marginal note.

F22 F22 FIRST SCHEDULE U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F22 Schedule 1 repealed by Finance Act 1938 (c. 46), s. 6, Sch. 2

F23 F23 SECOND AND THIRD SCHEDULES U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F23 Schedules 2 and 3 repealed by Import Duties Act 1958 (c. 6), s. 16(4), Sch. 7

F24 F24 Fourth SCHEDULE U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F24 Schedule 4 repealed with saving by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), 59, Sch. 13 Pt. I

F25 F25 FIFTH SCHEDULE U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F25 Schedule 5 repealed by Statute Law Revision Act 1950 (14 Geo. 6 c. 6)