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Finance Act 1951

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16Charge of income tax for 1951-52

(1) Income tax for the year 1951-52 shall be charged at the standard rate of nine shillings and sixpence in the pound and, in the case of an individual whose total income exceeds two thousand pounds, shall be charged in respect of the excess at rates in the pound which respectively exceed the standard rate by the amounts specified in the second column of the following Table:—

Table

For every pound of—s.d.
the first five hundred pounds of the excess20
the next five hundred pounds of the excess26
the next one thousand pounds of the excess36
the next one thousand pounds of the excess46
the next one thousand pounds of the excess56
the next two thousand pounds of the excess66
the next two thousand pounds of the excess76
the next two thousand pounds of the excess86
the next three thousand pounds of the excess96
the remainder of the excess100

(2) All such enactments as had effect with respect to the income tax charged for the year 1950-51 shall have effect with respect to the income tax charged for the year 1951-52. (3) Notwithstanding anything in the preceding provisions of this section, the standard rate of tax for the year 1951-52 shall, for the purpose of computing the amounts of tax which, under section two of the Income Tax (Employments) Act, 1943, fall to be deducted or repaid before the twenty-fifth day of May, nineteen hundred and fifty-one, be deemed to have been the same as that for the year 1950-51, but nothing in this subsection shall prevent or be deemed to have prevented the resulting under-deductions and over-repayments of tax from being adjusted subsequently by means of increased deductions or diminished repayments under the said section two, or, if need be, by an assessment.

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