Finance Act 1902

PART III Income Tax and Inhabited House Duty

10 Income tax for 1902-1903

(1) Income tax for the year beginning on the sixth day of April nineteen hundred and two shall be charged at the rate of one shilling and threepence.

(2) All such enactments relating to income tax as were in force on the fifth day of April nineteen hundred and two shall have full force and effect with respect to the duty of income tax hereby granted.

(3) The annual value of any property, which has been adopted for the purpose either of income tax under Schedules A. and B. in the [16 & 17 Vict. c. 34.] Income Tax Act, 1853, or of inhabited house duty, during the year ending on the fifth day of April nineteen hundred and two, shall be taken as the annual value of such property for the same purpose during the next subsequent year; provided that this subsection—

(a) so far as respects the duty on inhabited houses in Scotland, shall be construed with the substitution of the twenty-fourth day of May for the fifth day of April; and

(b) shall not apply to the metropolis as defined by the [32 & 33 Vict. c. 67.] Valuation (Metropolis) Act, 1869.

(4) Section thirty-eight of the [57 & 58 Vict. c. 30.] Finance Act, 1894 (which relates to duty on dividends, &c. paid prior to the passing of the Act), shall be applied with respect to the year which commenced on the sixth day of April nineteen hundred and two, as it was applied with respect to the year which commenced on the sixth day of April one thousand eight hundred and ninety-four.