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FINANCE ACT, 1924.
(b) any question as to domicile or ordinary residence arising under paragraph (a) of Rule 2 of the Rules applicable to Case IV of Schedule D, or under paragraph (a) of Rule 3 of the Rules applicable to Case V of Schedule D:
(c) any question as to residence arising
(i) under paragraph (d) of Rule 2 of the General Rules applicable to Schedule C; or
(ii) under Rule 7 of the Miscellaneous Rules applicable to Schedule D in connection with a claim for repayment of income tax made to the Commissioners of Inland Revenue by the person owning the stocks, funds, shares or securities and entitled to the income arising therefrom, or entitled to the annuities, pensions or other annual sums, as the case may be, and from whose income a deduction has been made on account of the income tax assessed and charged under the said Rule.
28. INCOME TAX ON WAR BONUS, &c.-For the purposes of any assessment to income tax for any year which is made on or after, or has not become final and conclusive before, the thirtieth day of April, nineteen hundred and twenty-four, or of any deduction on account of income tax for any year, any increase of or addition to any salary, remuneration, pension, annuity or stipend by way of war bonus, and any other like temporary increase or addition granted in order to meet the rise in the cost of living, shall be, and shall be deemed always to have been, chargeable to tax as salary, remuneration, pension, annuity or stipend, as the case may be, and not as perquisites under Rule 4 of the Rules applicable to Schedule E or under the fourth of the Rules for charging the duties under Schedule E in section one hundred and forty-six of the Income Tax Act, 1842 (5 & 6 Vict. c. 36).
29. RATE OF TAX AT WHICH REPAYMENTS IN RESPECT OF DEDUCTION OR ALLOWANCE UNDER PART II. OF FINANCE ACT, 1920, ARE TO BE MADE.-Any repayment of income tax for any year of assessment, whether ending before or after the thirtieth day of April, nineteen hundred and twenty-four, to which any person may be entitled in respect of any deduction allowed under sections eighteen to twenty-two of the Finance Act, 1920, or in respect of the reduction of the rate of tax on the first two hundred and twenty-five pounds of taxable income under section twenty-three of that Act, shall be made at the standard rate of tax for that year, or at half that rate, as the case may be, but subject to such adjustments as may be proper in cases where relief is given in respect of Dominion income tax :
Provided that, in the case of any person who proves as regards any year that, by reason of the deductions to which he is entitled, he has no taxable income for that year, any repayment to be made shall be a repayment of the whole amount of the tax paid by him, whether by deduction or otherwise, in respect of his income for that year.
30. POWER TO RECOVER SUMMARILY SMALL AMOUNTS OF INCOME TAX.—(1) Where the amount of any income tax for the time being due and payable under any assessment is less than fifty pounds, the tax may, without prejudice to any other remedy and without prejudice to the provision for recovery of income tax assessed and charged quarterly, be recoverable summarily as a civil debt, and section twentynine of the Finance Act, 1921 (11 & 12 Geo. 5, c. 32) (which relates to evidence of payment of wages in proceedings under subsection (2) of section one hundred and sixty-nine of the Income Tax Act, 1918, for the recovery of income tax), shall apply in the case of proceedings under this section as it applies in the case of proceedings under that section and as if references therein to wages included references to salaries, fees and other emoluments.
(2) Proceedings under this section shall be commenced in the name of a collector of taxes.
31. EXTENSION OF S. 18 OF FINANCE ACT, 1923.-Section eighteen of the Finance Act, 1923 (which makes provision for the granting of relief in cases where profits arising from the business of shipping are chargeable both to British income tax
14 & 15 GEORGE 5, CHAPTER 21.
and to income tax payable under the law in force in any foreign state), shall have effect as if references therein to a foreign state included references to any British Dominion, any territory which is under His Majesty's protection, and any territory in respect of which a mandate is being exercised by the Government of any part of His Majesty's Dominions.
32. CONTINUATION OF S. 21 OF FINANCE ACT, 1923.-Section twenty-one of the Finance Act, 1923 (which grants an exemption for charities in the Irish Free State in respect of income tax for the year 1923-24), shall apply with respect to income tax chargeable for the year 1924-25 as it applied with respect to income tax chargeable for the year 1923–24.
33. EXPLANATION OF INCOME TAX DEDUCTION TO BE ANNEXED TO DIVIDEND WARRANTS, &c.—(1) Every warrant or cheque or other order drawn or made, or purporting to be drawn or made, after the thirtieth day of November, nineteen hundred and twenty-four, in payment of any dividend or interest distributed by any company, being a company within the meaning of the Companies (Consolidation) Act, 1908 (8 Edw. 7, c. 69), or a company created by letters patent or by or in pursuance of an Act of Parliament, shall have annexed thereto or be accompanied by a statement in writing showing—
(a) the gross amount which, after deduction of the income tax appropriate thereto, corresponds to the net amount actually paid; and
(b) the rate and the amount of income tax appropriate to such gross amount; and (c) the net amount actually paid.
(2) If a company fails to comply with the provisions of this section, the company shall, in respect of each offence, incur a penalty of ten pounds:
Provided that the aggregate amount of any penalties imposed under this section on any company in respect of offences connected with any one distribution of dividends or interest shall not exceed one hundred pounds.
PART III.-MISCELLANEOUS AND GENERAL.
34. TERMINATION OF CORPORATION PROFITS TAX.-(1) Corporation profits tax shall not be charged on profits arising in an accounting period commencing after the thirtieth day of June, nineteen hundred and twenty-four.
(2) Where an accounting period commenced on or before, but ends after, the said thirtieth day of June, the total profits of the accounting period shall be apportioned between the period up to and including that day and the period beginning immediately thereafter in proportion to the respective lengths of those periods, and corporation profits tax shall be charged on so much, but on so much only, of the profits as are apportioned to the period up to and including the said thirtieth day of June, and every such period shall be an accounting period for the purposes of Part V. of the Finance Act, 1920.
35. AMENDMENT AS TO STAMP DUTY ON LEASES OF CERTAIN Dwelling-HOUSES. -Paragraph (1) of the heading " Lease or Tack," in the First Schedule to the Stamp Act, 1891 (54 & 55 Vict. c. 39) (which relates to the stamp duty on a lease or tack of any dwelling-house or part of a dwelling-house for a definite term not exceeding a year at a rent not exceeding the rate of ten pounds per annum), and paragraph (a) of subsection (1) of section seventy-eight of the said Act (which provides that the duty on any such lease or tack as is mentioned in the said paragraph (1) may be denoted by an adhesive stamp) shall have effect as though "forty pounds were therein substituted for ten pounds."
36. EXEMPTION FROM STAMP DUTY ON RECEIPTS FOR SALARIES, WAGES, AND SUPERANNUATION AND OTHER LIKE ALLOWANCES.-The following exemption shall be substituted for exemption numbered (6) under the heading "Receipt given for, or upon the payment of, money amounting to two pounds or upwards" in the First Schedule to the Stamp Act, 1891 :
'(6) Receipt given for or on account of any salary, pay or wages, or for or on account of any other like payment made to or for the account or benefit
FINANCE ACT, 1924.
of any person, being the holder of an office or an employee, in respect of his office or employment, or for or on account of money paid in respect of any pension, superannuation allowance, compassionate allowance or other like
37. EXEMPTION FROM STAMP DUTY OF SECURITIES ISSUED UNDER TREATY WITH TURKEY.-Stamp duty shall not be chargeable on any securities which, under the provisions of the Treaty of Peace with Turkey, signed on behalf of His Majesty at Lausanne on the twenty-fourth day of July, nineteen hundred and twenty-three, are to be exempt in the territory of the contracting parties from all stamp duties.
38. EXTENSION OF S. 14 OF FINANCE ACT, 1900.-(1) All such relief as might have been given under section fourteen of the Finance Act, 1900 (63 & 64 Vict. c. 7), as amended by subsequent enactments (but not including section two of the Death Duties (Killed in War) Act, 1914 (4 & 5 Geo. 5, c. 76)), in respect of the death duties payable on property passing on the death of certain persons killed in the late war shall be given in respect of the death duties payable on the death of persons, being persons to whom this section applies, who die from wounds inflicted, accidents occurring, or disease contracted while on active service against an enemy, or on service which is of a warlike nature, or which, in the opinion of the Treasury, otherwise involves the same risks as active service.
(2) The persons to whom this section applies are the members of His Majesty's Forces who are subject either to the Naval Discipline Act or to military law, whether as officers, non-commissioned officers, or soldiers, under Part V. of the Army Act, or to the Air Force Act.
(3) This section shall apply in the case of any persons dying from any such causes aforesaid arising after the thirty-first day of August, nineteen hundred and twenty-one.
39. PROVISION FOR QUARTERLY PAYMENT OF SAVINGS BANK ANNUITIES.-Any annuity granted after the tenth day of October, nineteen hundred and twenty-four, under the Government Annuities Acts, 1853 (16 & 17 Vict. c. 45) and 1864 (27 & 28 Vict. c. 43), as amended by the Government Annuities Act, 1882 (45 & 46 Vict. c. 51), shall, instead of being payable half-yearly, be payable quarterly in manner provided by subsections (1) and (2) of section two of the National Debt (Supplemental) Act, 1888 (51 & 52 Vict. c. 15).
40. CONTINUANCE DURING Current FINANCIAL YEAR of s. 58 of 10 & 11 GEO. 5, c. 18.-Section fifty-eight of the Finance Act, 1920 (which provides that amounts applied out of revenue in paying off debt are to be deemed to be expenditure within the meaning of sections four and five of the Sinking Fund Act, 1875 (38 & 39 Vict. c. 45)), shall apply in relation to the current financial year as it applied in relation to the financial year ending on the thirty-first day of March, nineteen hundred and twenty-one.
41. CONSTRUCTION, SHORT TITLE, APPLICATION AND REPEAL.-(1) Part I. of this Act so far as it relates to duties of customs shall be construed together with the Customs (Consolidation) Act, 1876 (39 & 40 Vict. c. 36), and any enactments amending that Act, and so far as it relates to duties of excise shall be construed together with the Acts which relate to the duties of excise and the management of those duties.
Part II. of this Act shall be construed together with the Income Tax Acts. (2) This Act may be cited as the Finance Act, 1924.
(3) Such of the provisions of this Act as relate to matters with respect to which the Parliament of Northern Ireland has power to make laws shall not extend to Northern Ireland.
(4) The enactments set out in the Third Schedule to this Act are hereby repealed to the extent mentioned in the third column of that Schedule.
In the case of molasses pro-
An amount equal to the
(1) Drawback on the export, or on the shipment, or deposit in a bonded warehouse, for use as ships' stores, of any duty-paid article.
(2) Drawback on the deposit in a bonded warehouse for export of beer in the brewing of which duty-paid sugar or glucose has been used.
(3) Drawback on the export, or on the shipment, or deposit in a bonded warehouse, for use as ships' stores, of goods (other than beer) in the manufacture or preparation of which in Great Britain or Northern Ireland any duty-paid article has been used.
An amount equal to the duty paid.
An amount equal to the
2s. 1ğd. An amount equal to the drawback which would have been payable on the export of the glucose.