HC Deb 14 April 1930 vol 237 c2688



  1. (a) subsection (2) of section two hundred and eleven of the Income Tax Act, 1918 (which makes provision as to the deduction in any year of Inoome Tax which has not been deducted before the passing of the Finance Act for the year) shall be amended so as to apply to—
    1. (i) preference dividends payable at a fixed gross rate per cent. (including in any case where dividends are payable partly at such a rate and partly at a variable rate, such part of the dividends as is payable at a fixed gross rate per cent.) in respect of which a deduction may be made under Rule 20 of the General Rules;
    2. (ii) payments for or in respect of copyright to which Section twenty-five of the Finance Act, 1927, appplies; and
    3. (iii) any royalty or other sum paid in respect of the user of a patent:
  2. (b) where on payment of a dividend, other than such a preference dividend as aforesaid, Income Tax has, under Rule 20 of the General Rules, been deducted therefrom by reference to a standard rate greater or less than the standard rate for the year in which the dividend became due, the net amount received shall, for all the purposes of the Income Tax Acts, be deemed to represent income of such an amount as would, after deduction of tax by reference to the standard rate last-mentioned, be equal to the net amount received, and for the said purposes there shall be deemed to have been paid in respect of that income by deduction tax of such an amount as is equal to the amount of tax on that income computed by reference to the standard rate last-mentioned.

And it is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1913