HC Deb 15 April 1947 vol 436 cc95-7

9. Charge of Tax

Resolved: That—

  1. (a) income tax for the year 1947–48 shall be charged at the standard rate of nine shillings in the pound, and, in the case of an individual whose total income exceeds two thousand pounds, at such higher rates in respect of the excess over two thousand pounds as Parliament may hereafter determine;
  2. (b) Subject to the provisions of any Act of the present Session relating to transport or electricity, all such enactments as had effect with respect to the income tax charged for the year 1946–47, other than such enactments as by their terms relate only to tax for that year, shall have effect with respect to the income tax charged for the year 1947–48.
And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1913.

10 Personal Reliefs

Resolved: That—

  1. (a) subsection (1);of section fifteen of the Finance Act, 1925 (which, as amended by subsequent enactments, provides for a deduction of tax on an amount equal to one-eighth of the amount of earned income, but not exceeding one hundred and fifty pounds) and subsection (2) of the said section fifteen (which, as amended by subsequent enactments, provides, in a case where an individual or his wife has attained the age of sixty-five years and his total income does not exceed five hundred pounds, for a deduction of tax on an amount equal to one-eighth of his income) shall have effect as if the words 'one-sixth' were substituted for the words 'one-eighth' and the words 'two hundred and fifty pounds' were substituted for the words 'one hundred and fifty pounds';
  2. (b) Section eighteen of the Finance Act, 1920 (which, as amended by subsequent enactments, provides, amongst other things, that the deduction of tax allowable in the case of married persons shall in certain cases be increased by an amount not exceeding seven-eighths of the earned income of the claimant's wife) shall have effect as if the words 'five-sixths' were substituted for the words 'seven-eighths';
  3. (c) Section twenty-one of the Finance Act, 1920 (which, as amended by subsequent enactments, provides for a deduction of tax on fifty pounds in respect of each child with an income of fifty pounds or less) shall have effect as if the words 'sixty pounds' were substituted for the words 'fifty pounds' in Subsections (1) and (3) thereof; and
  4. (d) Subsection (1) of Section sixteen of the Finance Act, 1943 (which provides, amongst other things, that the deduction of tax allowable in certain cases in respect of a relative of the claimant or of his or her wife or husband who is maintained by the claimant is limited to cases where the total income of the person maintained does not exceed eighty pounds a year and that the allowance is reduced if the total income of that person exceeds thirty pounds a year) shall have effect as if the words 'one hundred and twenty pounds' were substituted for the words 'eighty pounds' and the words 'seventy pounds' were substituted for the words 'thirty pounds':
Provided that the additional relief afforded by this Resolution for the year 1947–48 shall not affect the amount of tax deductible or repayable before the seventh day of July, nineteen hundred and forty-seven. And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection. of Taxes Act, 1913.

11. Farm animals

Resolved: That, save in so far as may be otherwise provided by any Act of the present Session relating to Finance, animals and other living creatures kept for the purposes of farming or for the purposes of any trade whatsoever shall be treated for income tax purposes as trading stock or, in so far as an option conferred by the said Act to have them treated on an alternative basis has been duly exercised as respects them, on that alternative basis; and that where such an option is availed of or is or has been or may become available, such other consequences shall ensue for income tax purposes to all persons then or thereafter concerned as may be provided by the said Act.

12. Double Taxation Relief

Resolved: That the extent and incidence of income tax, for the year 1946–47 and subsequent years of assessment, shall be varied so as to give effect to amendments of the law relating to the effects of provisions in arrangements with the governments of territories outside the United Kingdom for the crediting, against United Kingdom tax, of tax payable under the laws of those territories.

13. Transfers of assets under Coal

Industry Nationalisation Act

Resolved: That, as respects past, present and future years of assessment, the law applicable to the income tax of the National Coal Board and the other persons concerned shall be amended in relation to cases where, whether before or after the passing of this Resolution, assets vest in that Board by virtue of any of the provisions of the Coal Industry Nationalisation Act, 1946.

14. Exceptional Depreciation Allowances

Resolved: That any exceptional depreciation allowance in respect of a building or structure for the year of assessment in which the appointed day (within the meaning of the Income Tax Act, 1945) falls shall, for the purposes of section four of that Act, be written off as at the end of the immediately preceding year of assessment, and this Resolution shall apply to all years of assessment, including the year 1946–47.

15. Benefits procured for directors and employees

Resolved: That it is expedient to impose liability to income tax where benefits (including benefits which are to be enjoyed only on the happening of particular contingencies) are or are to be procured or provided by bodies for persons who, as directors or otherwise, are taking part or are to take part or have taken part in the management of their affairs, or by employers of any kind for persons who are or are to be or have been their employees.

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