Finance Act 1916

1. Introductory Text

2. PART I Customs and Excise

   1. 1. Increased duties on cocoa

   2. 2. Increased duties on coffee

   3. 3. Increased duties on chicory

   4. 4. Increased Excise duty on coffee substitutes, &c

   5. 5. Increased Customs duties on sugar

   6. 6. Increased Excise duties on sugar

   7. 7. Customs duties on table waters

   8. 8. Customs duty on cider

   9. 9. Licence duty in respect of table waters and cider

   10. 10. Duties on mechanical lighters

   11. 11. Reduction of duty on herb beer

   12. 12. Exemption of school entertainments from entertainments duty

   13. 13. Provisions as to motor cars used as hackney carriages

   14. 14. Extension of relief in respect of motor car licence duty

   15. 15. Motor spirit licence duty

   16. 16. Supplemental provisions as to motor spirit licence duty

   17. 17. Continuance of Customs duties imposed under the Finance (No. 2) Act, 1915

   18. 18. Continuance of Excise duties imposed under the Finance (No. 2) Act, 1915

   19. 19. Drawback on beer for export in respect of sugar and glucose

   20. 20. Provision as to alteration of rates of drawback where rates of duty are altered

   21. 21. Allowance of drawback on the exportation of goods manufactured with dried fruits

   22. 22. Drawback on exported coffee and chicory and mixtures of coffee and chicory

   23. 23. Power by Order in Council to modify section 1 of the Immature Spirits Restriction Act, 1915, as regards rum

3. PART II Income Tax

   1. 24. Income tax for 1916-17

   2. 25. Modification of relief given with respect to earned income

   3. 26. Graduation of tax on unearned income in case of incomes not exceeding 2,000l

   4. 27. Additional income tax on securities which the Treasury are willing to purchase

   5. 28. Continuation of relief under 5 Geo.5 c.7 s.13

   6. 29. Relief where income of year is less than assessed income

   7. 30. Right of soldiers and sailors to pay reduced rates of income tax in respect of their pay

   8. 31. Provision as to service in the navy or army

   9. 32. Reduction of income tax when margin above a certain limit is small

   10. 33. Extension of relief in respect of children

   11. 34. Declaration as to the effect of section 20(1)(b) of 5 & 6 Geo.5 c.89

   12. 35. Collection of tax by means of stamps in certain cases

   13. 36. Limitation of relief from income tax in respect of insurance premiums

   14. 37. Income tax relief on war insurance premiums

   15. 38. Amendments of law with respect to income tax on woodlands

   16. 39. Repayment of income tax on sums deducted from profits under Munitions of War Act, 1915

   17. 40. Charging of income tax on dividends, &c, amounting to fifty shillings exactly

   18. 41. Income tax on dividends on Exchequer bonds issued through the Post Office

   19. 42. Exemption of interest under war savings certificates from income tax

   20. 43. Relief in respect of Colonial income tax

   21. 44. Provision as to Government securities issued free of tax

4. PART III Excess Profits Duty

   1. 45. Continuance and increase of rate of excess profits duty

   2. 46. Increase of rate of excess mineral rights duty

   3. 47. Computation of excess profits duty in case of sale of ships

   4. 48. Adjustment of excess profits duty and munitions Exchequer payments in case of controlled establishments

   5. 49. Provisions as to directors' fees

   6. 50. Further provision as to profits applied in extinction of previous losses

   7. 51. Provision as to accounting period

   8. 52. Provision as to accumulating profits

   9. 53. Application of s. 35 of the Finance (No. 2) Act, 1915, to munitions Exchequer payments

   10. 54. Deposit of sums for payment of excess profits duty

   11. 55. Amendment of section 40(3) of the principal Act

   12. 56. Exemption from excess profits duty of businesses carried on under the court

   13. 57. Definition

5. PART IV National Debt and Loans

   1. 58. Limited power to borrow on Exchequer bonds for Ways and Means purposes

   2. 59. Suspension of new sinking fund

   3. 60. Arrangements for exchange of securities issued under War Loan Acts

   4. 61. Power to transfer Exchequer bonds in satisfaction of death duties

   5. 62. Repeal of 29 & 30 Vict. c.25 s.4

   6. 63. Exemption from taxation of municipal securities issued in America

   7. 64. Payment of interest on Exchequer bonds in certain cases without deduction of income tax

   8. 65. Lost or destroyed Exchequer bonds

   9. 66. Transfer of stock on authority of order of a court

   10. 67. Indemnity on transfer of Government stock

   11. 68. Extension of section 2 of Government War Obligations Act, 1915

6. PART V General

   1. 69. Construction, repeal, and short title

7. SCHEDULES.

   1. FIRST SCHEDULE

      SUGAR, &c

      1. PART I Duties

      2. PART II Drawbacks and Allowances

   2. SECOND SCHEDULE

      Enactments Repealed