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Finance (No. 2) Act 1945

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  1. Introductory Text

  2. Part I

    1. 1.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    7. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    8. 8—13.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    9. 14.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  3. Part II

    1. 15—28.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  4. Part III Excess Profits Tax and the National Defence Contribution

    1. 29. Reduction of rate of excess profits tax.

    2. 30.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 31. Extension of relief for deficiencies of profits where a trader acquires or commences a new trade or partly discontinues a trade.

    4. 32. Extension of relief for deficiencies of profits in the case of certain amalgamations.

    5. 33. Supplementary provisions as to relief for deficiencies of profits.

    6. 34. Treatment of certain contributions and other payments made under redundancy schemes.

    7. 35. Extension of time for making assessments to excess profits tax and the national defence contribution, and relief in cases of error or mistake.

    8. 36. Research expenditure.

    9. 37.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  5. Part IV Excess Profits Tax Post-War Refunds

    1. Date of payment.

      1. 38. Time for repayment of post-war refunds.

      2. 39—42.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. Income Tax

      1. 43. Income tax on post-war refunds.

      2. 44. Option to spread refunds backwards for income tax purposes.

      3. 45. Option to have refunds treated as profits of 1947–48

    3. Miscellaneous.

      1. 46. Reliefs given and repayments made after payments have been made by way of post-war refund.

      2. 47. Set-off of refunds against excess profits tax.

      3. 48. Payment of refunds out of Consolidated Fund.

      4. 49. Special cases.

      5. 50. Interpretation of Part IV.

  6. Part V Relief from Double Taxation

    1. 51. Agreements for relief from double taxation of income.

    2. 52, 53.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 54.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 55, 56.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 57.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 58. Amendment of law as to exceptional depreciation allowances.

    7. 59. Determination of questions affecting allowances for exceptional depreciation.

  7. Part VI Miscellaneous

    1. 60. Appointment of collectors of taxes, etc. for City of London

    2. 61.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 62. Short title, construction and extent.

    1. FIRST SCHEDULE

      1. . . . . . . . . . ....

    2. SECOND SCHEDULE

      1. . . . . . . . . . ....

    3. THIRD SCHEDULE

      1. . . . . . . . . . ....

    4. FOURTH SCHEDULE

      1. . . . . . . . . . ....

    5. FIFTH SCHEDULE

      Section 24 of the Finance Act, 1923, as applied with adaptations to Excess Profits Tax and the National Defence Contribution.

      1. (1) If any person who has paid tax charged under...

      2. (2) On receiving any such application the Commissioners of Inland...

      3. (4) Any person who is aggrieved by the determination of...

      4. (5) The Special Commissioners shall thereupon hear and determine the...

    6. SIXTH SCHEDULE

      Post-War Refunds in the Case of Partnerships, Groups of Companies, Etc.

      1. Part I.Partnerships.

        1. 1.Where the original trade or business was carried on in...

      2. Part II.Groups of Companies.

        1. 2.For the purposes of this Part of this Schedule, a...

        2. 3.All sums paid or payable by way of excess profits...

        3. 4.. . . . . . . . . ....

        4. 5.Where it is finally determined that any post-war refund is...

        5. 6.Where an amount is paid to a subsidiary member under...

        6. 7.So much of the provisions of Part IV of this...

      3. Part III Tax Paid Under Finance Act, 1943, s. 24

        1. 8.Where, under section twenty-four of the Finance Act, 1943, a...

        2. 9.Any reference in Part IV of this Act to the...

    7. SEVENTH SCHEDULE

      1. . . . . . . . . . ....

    8. EIGHTH SCHEDULE

      Amendments as to Exceptional Depreciation Allowances.

      1. Part I.Provisions Applicable to Excess Profits Tax and the National Defence Contribution.

        1. 1.In this Part of this Schedule the expression “exceptional depreciation...

        2. 2.An exceptional depreciation allowance shall be given notwithstanding that on...

        3. 3.(1) Where it is material for the purposes of sub-paragraph...

        4. 4.Paragraph (ii) of sub-paragraph (1) of the principal paragraph (which...

        5. 5.(1) Any excess in respect of which an exceptional depreciation...

        6. 6.(1) The provisions of this paragraph shall have effect where—...

      2. Part II Provisions applicable to Income Tax, Excess Profits Tax and the National Defence Contribution

        1. 7.In this Part of this Schedule, the expression “exceptional depreciation...

        2. 8.(1) This paragraph shall have effect in relation to the...

        3. 9.Any reference in the provisions of this Schedule or in...

        4. 10.(1) Any reference in the provisions of this Schedule or...

        5. 11.For the purposes of the principal provisions and the provisions...

        6. 12.References in this Schedule to a body of persons include...

        7. 13.In this Schedule, the expression “control”, in relation to a...

        8. 14.In this Schedule, the expression “leasehold interest” includes the interest...

    9. NINTH SCHEDULE

      1. . . . . . . . . . ....

    10. TENTH SCHEDULE

      1. . . . . . . . . . ....

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