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Finance (No. 2) Act 1931

Status:

This is the original version (as it was originally enacted).

FIRST SCHEDULETobacco

Part I

Customs Duties

Upon tobacco unmanufactured, viz.—s.d.
Containing 10 lbs. or more of moisture in every 100 lbs. weight thereof—
Unstrippedthe pound96
Strippedthe pound96 ½
Containing less than 10 lbs. of moisture in every 100 lbs. weight thereof—
Unstripped -the pound106
Strippedthe pound106 ½
Upon tobacco manufactured, viz. :—
Cigarsthe pound181
Cigarettesthe pound147
Cavendish or Negroheadthe pound139
Cavendish or Negrohead manufactured inbond the pound120
Other manufactured tobaccothe pound120
Snuff containing more than 13 lbs. of moisture in every 100 lbs. weight thereof - the pound114
Snuff not containing more than 13 lbs. of moisture in every 100 lbs weight thereof - the pound139

Part II

Excise Duties

Upon tobacco unmanufactured, viz. :—s.d.
Tobacco containing 10 lbs. or more of moisture in every 100 lbs. weight thereof - - the pound73 ½
Tobacco containing less than 10 lbs. of moisture in every 100 lbs. weight thereof - - - the pound
80 7/8
Upon tobacco manufactured, viz. :—
Cavendish or Negrohead manufactured in bond the pound94 7/8
and so on proportion for any less quantity.

Part III

Drawback

Description of Tobacco.Rate per pound.
In respect of tobacco on which full customs duty has been paid.In respect of tobacco on which customs duty at a preferential rate, or excise duty, has been paid.
S.d.S.d.
Cigars10985
Cigarettes10682
Cut, roll, cake, or other manulac-tured tobacco10380
Snuff (not being offal snuff)100710
Stalks, shorts or other reluse of tobacco, including offal snuff9977

SECOND SCHEDULERate of Entertainments Duty

Amount of Payment.Duty.
Where the amount of payment for admission, excluding the amount of the duty.—
Exceeds 2d. and does not exceed 2 ½ d.One halfpenny.
Exceeds 2 ½ d. and does not exceed 6d.One penny.
Exceeds 6d. and does not exceed7 ½ d.Three halfpence.
Exceeds 7 ½ d. and does not exceed 10d.Two pence.
Exceeds lOd. and does not exceed 1s. 0 ½ dTwo pence halfpenny.
Exceeds Is. 0 ½ d. and does not exceed 1s. 3dThree pence.
Exceeds 1s. 3dThree pence for the first 1s. 3d. and one penny for every 5d. or part of 5d, over Is. 3d.

THIRD SCHEDULEProvisions for giving effect to the change in the Standard Rate of Income Tax for the year 1931-32

1The amount payable by virtue of any assessment made before the passing of this Act shall, by virtue of this Act and without more, be treated as varied to such extent as is necessary to give effect to the change in the standard rate :

Provided that this paragraph shall not apply in the case of income chargeable under Schedule C, under Rule 6 or 7 of the Miscellaneous Rules applicable to Schedule D, or under Rule 21 of the General Rules.

2In the case of such income as is mentioned in the proviso to paragraph 1 of this Schedule, any deficiency in the amount of tax deducted from any payment made before the fifteenth day of October, nineteen hundred and thirty-one (being a deficiency arising by reason of the change in the standard rate) shall, so far as possible, be made good by increasing the deduction required or authorised by law to be made from the next payment and, if necessary, the deductions required or authorised by law to be made from subsequent payments (being a payment or payments made after the passing of this Act and before the fifteenth day of October, nineteen hundred and thirty-two) by an amount equal to the amount of the deficiency, and the deficiency so made good shall be accounted for and assessed in the same manner as the tax deducted from the original payment.

3Subject, in any case where paragraph 2 of this Schedule applies, to the provisions of that paragraph, section two hundred and eleven of the Income Tax Act, 1918 (which relates to the charge and deduction of tax in any year not charged or deducted before the passing of the annual Act) shall apply as if—

(a)this Act were the Act imposing the tax for the year; and

(b)a reference to the fifteenth day of October, nineteen hundred and thirty-one, were, so far as relates to any deficiency in the amount of tax deducted from any payment made after the passing of this Act but before the date aforesaid, substituted for any reference to the passing of the Act imposing the tax for the year; and

(c)in subsection (1) of the said section the words " half yearly or quarterly" were omitted, and the words

or the person by or through whom the payments were made, as the case may be,

were inserted after the words

the agents entrusted with the payment of the interest, dividends or other annual profits or gains.

FOURTH SCHEDULEAmendment of Enactments relating to Reliefs from Income Tax

Subject Matter.Enactment amended.Amendment.
Personal allowanceThe Finance Act, 1920, s. 18.

In subs. (1) for the words " two hundred and twenty-five pounds" there shall be substituted the words

one hundred and fifty pounds;

and for the words " one hundred and thirty-five pounds" there shall be substituted the words

one hundred pounds.

In subs. (2) for the words " five-sixths " there shall be substituted the words

four-fifths.

Deductions in respect of relative or other person taking charge of widower's or widow's children or acting as housekeeper or in respect of widowed mother, &c.The Finance Act, 1920, ss. 19 and 20, and the Finance Act, 1924, ss. 21 and 22.The amount on which a deduction of tax at the standard rate is to be allowed shall in each case be fifty pounds instead of sixty pounds.
Deduction in respect of children.The Finance Act, 1920, s. 21.

For the words " sixty pounds, "wherever they occur there shall be substituted the words

fifty pounds

; and for the words "fifty pounds" there shall be substituted the words

forty pounds.

Allowances in respect of earned income and allowances by reference to total income of persons of age of sixty-five years.The Finance Act, 1925, s. 15.

For the words " one-sixth ", wherever they occur, there shall be substituted the words

one-fifth

; for the words " two hundred and fifty pounds'' there shall be substituted the words

three hundred pounds

and for the words " one hundred and sixty pounds" there shall be substituted the words

one hundred and twenty-five pounds.

Relief from balance of tax chargeable after allowance of other reliefs.The Finance Act, 1927, s. 40 (2).

For the words " five-ninths ", wherever they occur, there shall be substituted the words

one-half

; and for the words " two hundred and fifty pounds " there shall be substituted the words

one hundred and seventy-five pounds.

Relief in respect of life insurance premiums, &c.The Income Tax Act, 1918, s. 32.Para. (f) of subs. (3) shall cease to have effect.

FIFTH SCHEDULEEnactments Repealed

Part I

Enactments Repealed as from the 6th April, 1931

Session and ChapterShort TitleExtent of Repeal
8 & 9 Geo. 5. c. 40The Income Tax Act, 1918Para. (f) of subsection (3) of section thirty-two
20 & 21 Geo. 5. c. 28The Finance Act, 1930Section eleven

Part II

Enactments Repealed as from the passing of this Act

Session and Chapter.Short Title.Extent of Repeal.
11 & 12 Geo. 5. c. 32The Finance Act, 1921In paragraph 1 of the Third Schedule to the Finance Act, 1921, the words "in " the British Isles."
21 & 22 Geo. 5. c. 28The Finance Act, 1931Subsections (3), (4) and (5) of section thirty-six.

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