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Finance (No. 2) Act 1945

Status:

This is the original version (as it was originally enacted).

  1. Introductory Text

  2. Part I Purchase Tax, Customs and Excise

    1. Purchase Tax

      1. 1.Cesser of charge of purchase tax in respect of certain cooking and heating appliances and refrigerators

      2. 2.Exemption from purchase tax of wireless sets for the blind

      3. 3.Temporary exemption from purchase tax of war memorials

    2. Mechanically Propelled Vehicles

      1. 4.Amendment as to grading of certain of the rites of excise duty on mechanically propelled hackney and goods vehicles, etc.

      2. 5.Charge of excise duty on certain mechanically propelled vehicles by reference to cylinder capacity in lieu of horse-power

      3. 6.Amendment as to rate of excise duty on electrically propelled bicycles

    3. Hydrocarbon Oils

      1. 7.Extension of rebate on heavy oil used for farm tractors

      2. 8.Amendment as to duty on oils used in refineries

    4. Spirits

      1. 9.(1) The Commissioners may make regulations for all or any...

      2. 10.(1) The fine of five hundred pounds incurred by a...

      3. 11.As from the first day of January, nineteen hundred and...

      4. 12.After paragraph 3 of the " provisions applicable to manufacturers'...

    5. Release of Imported Goods

      1. 13.(1) Where it is impracticable immediately to ascertain whether any...

      2. 14.(1) The reference to enactments relating to Customs generally in...

  3. Part II Income Tax

    1. 15.Income tax for 1946-47

    2. 16.Higher rates of income tax for 1945-46

    3. 17.Increase of certain reliefs for 1946-47 and subsequent years

    4. 18.Appointed day for Part IV of Finance Act, 1944, and Income Tax Act, 1945

    5. 19.Extension to 1945-46 of s. 11 of Finance (No. 2) Act, 1939

    6. 20.Tax free annuities, etc.

    7. 21.Application of Rules 19 and 21 of the General Rules to interest, etc., payable by local authorities

    8. 22.Amendments as to carrying forward of losses

    9. 23.War gratuities

    10. 24.Treatment of certain payments made under redundancy schemes

    11. 25.Effect of cancellation of certificates granted under Finance Act, 1935, s. 25

    12. 26.Statutory redundancy schemes

    13. 27.Adjustment of liability to income tax consequential on adjustments of excess profits tax or the national defence contribution

    14. 28.Incorrect returns

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

    1. 29.Reduction of rate of excess profits tax

    2. 30.Relief not to be given for deficiencies of profits occurring after end of 1946

    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.Application of certain provisions as to losses to the national defence contribution

  5. Part IV Excess Profits Tax Post-War Refunds

    1. Date of payment

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

    2. Conditions for payment

      1. 39.Refunds to be used for purposes of trade or business

      2. 40.Undertakings and authorities which must be given

      3. 41.Effect of breach of undertakings, etc.

      4. 42.Establishment and duties of advisory panel and referee

    3. 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

    4. 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.Deduction of income tax from dividends

    3. 53.Power to make regulations

    4. 54.Agreements for relief from double estate duty

    5. 55.Disclosure of information

    6. 56.Supplementary

  7. Part VI Miscellaneous

    1. 57.Relief from death duties on land subsequently acquired by government departments, local authorities, etc.

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

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

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

    5. 61.Amendment as to deficit for 1944-45

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

    1. FIRST SCHEDULE

      Classes of Goods in respect of which Purchase Tax is to cease to be chargeable

      1. 1.Domestic cooking, space heating and water heating appliances of the...

      2. 2.Parts of such stoves, grates, ranges and fireplaces as aforesaid....

      3. 3.Domestic refrigerators.

    2. SECOND SCHEDULE

      Rates of Excise Duty on certain Mechanically Propelled Vehicles

      1. Part I Paragraph to be substituted for paragraph 3 of the Second Schedule to the Finance Act, 1920

        1. 1.The number of persons mentioned does not include the driver...

        2. 2.The seating capacity of a vehicle shall be determined in...

        3. 3.The expression " hackney carriage" means a mechanically propelled vehicle...

      2. Part II Rates of Duty on Goods Vehicles chargeable under sub-paragraphs (a), (b) and (c) of paragraph 5 of the Second Schedule to the Finance Act, 1920

      3. Part III Rates of Duty on Goods Vehicles being Local Authorities' Watering Vehicles

    3. THIRD SCHEDULE

      Spirits

      1. Part I Provisions of the Spirits Act, 1880, replaceable by Regulations

      2. Part II Modifications of Provisions relating to charge of Excise Duty on Spirits

        1. 1.The excise duty on spirits made in a distillery shall...

        2. 2.Subsection (5) of the said section forty-six (which relates to...

        3. 3.Where the excise duty on spirits made in a distillery...

      3. Part III Enactments as to Allowances Repealed

    4. FOURTH SCHEDULE

      Income Tax Reliefs in Connection with Redundancy Schemes

      1. Part I Preliminary

        1. 1.(1) In this Schedule— (a) the expression " scheme "...

      2. Part II Relief in respect of certain payments

        1. 2.The question whether any, and, if so, what, relief is...

        2. 3.No relief shall be given in respect of the payment...

        3. 4.No relief shall be given in respect of the payment...

        4. 5.The amount of the reduction to be made in respect...

        5. 6.(1) For the purposes of this Schedule, damage shall be...

      3. Part III Exclusion of relief in respect of contributions paid after relief has been given under part II of this schedule

        1. 7.The provisions of this Part of this Schedule shall have...

        2. 8.There shall be ascertained— (a) the total amount of the...

        3. 9.For the purpose of determining what deduction is to be...

        4. 10.When two or more contributions are paid at the same...

    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 an...

      2. 2.On receiving any such application the Commissioners of Inland Revenue...

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

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

    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.Where any sum is paid to the principal company for,...

        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

      Provisions as to relief from Income Tax, Excess Profits Tax and the National Defence Contribution by way of credit in respect of Foreign Tax

      1. Interpretation

        1. 1.(1) In this Schedule, except where the context otherwise requires—...

      2. General

        1. 2.Subject to the provisions of this Schedule, where, under the...

      3. Requirement as to residence

        1. 3.Credit shall not be allowed against income tax for any...

      4. Limits on total credit—income tax

        1. 4.(1) The amount of the credit to be allowed for...

        2. 5.Without prejudice to the provisions of the last preceding paragraph,...

      5. Limit on total credit—excess profits tax

        1. 6.The amount of the credit to be allowed against excess...

      6. Effect on computation of income of allowance of credit

        1. 7.(1) Where credit falls to be given against income tax...

        2. 8.Where credit for foreign excess profits tax falls to be...

      7. Special provisions as to dividends

        1. 9.Where, in the case of any dividend, foreign income tax...

        2. 10.Where— (a) the arrangements provide, in relation to dividends of...

      8. Miscellaneous

        1. 11.Credit shall not be allowed under the arrangements against the...

        2. 12.Subject to the provisions of the next following paragraph, any...

        3. 13.Where the amount of any credit given under the arrangements...

    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...

        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...

        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...

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

    9. NINTH SCHEDULE

      Modification of Enactments relating to the collection of Income Tax and Land Tax

      1. 1.Subsection (3) of section thirty-seven of the Finance Act, 1931...

      2. 2.The enactments set out in Part II of the Third...

      3. 3.In Part I of the Tenth Schedule to the Finance...

      4. 4.In Part II of the said Tenth Schedule, in paragraph...

    10. TENTH SCHEDULE

      Enactments relating to Mechanically Propelled Vehicles repealed as from ' 1st January, 1946

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