§ 8. Income tax (charge and rates for 1953–54)
§
Resolved,
That—
Any change in the rates of tax for the year 1953–54 as compared with the previous year shall not affect the amounts of tax deductible or repayable under section one hundred and fifty-seven (pay-as-you-earn) of the Income Tax Act, 1952, before the eighth day of June, nineteen hundred and fifty-three, but this shall not prevent the resulting over-deductions and under-repayments from being adjusted subsequently by means of diminished deductions or increased repayments under that section, or, if need be, by an assessment.
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.
§ 9. Income tax (surtax rates for 1952–53)
§
Resolved,
That income tax for the year 1952–53 shall be charged, in the case of an individual whose total income exceeded two thousand pounds, at the same higher rates in respect of the excess as were charged for the year 1951–52.
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. Income tax (personal reliefs)
§
Resolved,
That Part VIII (Personal Reliefs) of the Income Tax Act, 1952, shall be amended as follows:—
67
Provided that the changes effected by this resolution shall not affect the amounts of tax deductible or repayable under section one hundred and fifty-seven (pay-as-you-earn) of the Income Tax Act, 1952, before the eighth day of June, nineteen hundred and fifty-three, but this shall not prevent the resulting over-deductions and under-repayments from being adjusted subsequently by means of diminished deductions or increased repayments under that section, or, if need be, by an assessment.
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. Income tax (partnerships)
§
Resolved,
That new provision shall be made as to the amount of tax chargeable, and the persons on whom it is to be charged, where there is a change in the persons carrying on a trade, profession or vocation, or in the manner in which partners share partnership profits.
§ 12. Income tax (adjustment of general income by reference to business loss)
§
Resolved,
That provision shall be made as to the circumstances in which, in giving relief in respect of a business loss against tax on general income under section three hundred and forty-one of the Income Tax Act, 1952, the loss is to be set off primarily against earned, or primarily against unearned, income, and that, where the person sustaining the loss has a wife or husband, the relief shall be given against that person's own income in preference to the wife or husband's or (at the claimant's option) against that person's own income only and not against the wife or husband's.
§ 13. Income tax (payments between associated companies in respect of losses)
§
Resolved,
That payments made by a company to an associated company in respect of losses sustained by it shall be chargeable to income tax (including tax for a past year of assessment) as a receipt of the payee company, and to the extent they are so chargeable shall be allowed as a deduction for income tax purposes to the other.
§ 14. Income tax (extension of capital allowances, etc., for industrial buildings and structures)
§
Resolved,
That it is expedient to authorise all such charges to income tax as may arise from treating as industrial buildings or structures for the purposes of Chapter I of Part X of the Income Tax Act, 1952, buildings or structures used in connection with the fishing industry or in connection with husbandry or forestry outside the United Kingdom.
§ 15. Income tax (overseas profits not remittable to the United Kingdom)
§
Resolved,
That it is expedient to authorise all such charges to income tax as may arise from any provision as to the treatment for taxation purposes of overseas profits or income not freely remittable to the United Kingdom (including profits or income chargeable to income tax for the year 1952–53 or to the profits tax or the excess profits levy for a past chargeable accounting period).
§ 16. Income tax (abolition of limit on unilateral relief for double taxation)
§
Resolved,
That it is expedient to authorise all such charges to income tax (including charges for past years of assessment) as may arise from the repeal of proviso (a) to subsection (2) of section three hundred and forty-eight of the Income Tax Act, 1952, or of paragraph 2 of Part II of the Seventeenth Schedule to that Act, or from the repeal applying to past profits for purposes of the profits tax or the excess profits levy where it applies to them for the purposes of income tax.
§ 17. Income tax (postponement of capital allowances to secure double taxation relief)
§
Resolved,
That it is expedient to authorise all such charges to income tax as may result from any provision enabling a person claiming double taxation relief in respect of income tax, the profits tax or the excess profits levy to postpone the whole or part of any capital allowances.
§ 18. Income tax (charge on overseas income applied in repayment of advances)
§
Resolved,
That income tax shall be charged on income arising from securities or possessions out of the United Kingdom which is applied out of the United Kingdom directly or indirectly in or towards the satisfaction, or so that the money or property representing it is available for the satisfaction, of a debt for money lent in the United Kingdom or interest thereon, or of a debt for money lent outside the United Kingdom if the money is (whether before or after the income is so applied) received in or brought to the United Kingdom.
§ 19. Income tax (relief for copyright royalties, etc.)
§
Resolved,
That it is expedient to authorise all such charges to income tax (including charges for past years of assessment) as may arise from extending the treatment under section four hundred and seventy-one of the Income Tax Act, 1952, of certain lump sum payments in respect of copyright, with or without modifications, to payments of or on account of royalties or sums payable periodically.
§ 20. Income tax (election for herd basis on compulsory slaughter of farm animals)
§
Resolved,
That it is expedient to authorise all such charges to income tax as may arise from enabling elections for the herd basis under the Twentieth Schedule to the Income Tax Act, 1952, to be made in relation to herds of any class on the compulsory slaughter of animals belonging to a herd of that class, including elections affecting years of assessment before 1953–54 but not (except as to relief for losses) years before 1951–52.
§ 21. Income tax (allowances for expenditure on repair of buildings)
§
Resolved,
That the provisions of the Income Tax Acts relating to allowances and charges in respect of capital expenditure shall be amended (with retrospective effect) with respect to expenditure on repairs to buildings and structures, and in particular shall be so amended that relief from income tax shall not be allowed, or be deemed ever to have been allowable, in respect of the same expenditure both by way of the repairs allowance under Schedule A and by way of the capital allowances in respect of industrial buildings or structures.
§ 22. Income tax (post-war refunds of excess profits tax)
§
Resolved,
That sections forty-three to forty-five of the Finance (No. 2) Act, 1945 (which provide for charging income tax for the year 1946–47 or 1947–48 on post-war refunds of excess profits tax, and for the deduction of tax at the standard rate for the year 1946–47), shall have effect, and be deemed always to have had effect, notwithstanding any time limit imposed by any other enactment on the assessment or recovery of income tax, and any assessment to income tax which may be required by reason of the operation of those sections in relation to any payment of or on account of any such post-war refund may be made at any time not later than three years after the end of the year of assessment in which the payment is made.
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.