HC Deb 17 April 1956 vol 551 cc891-3

4. Income tax (charge and rates for 1956–57)

Motion made, and Question, That income tax for the year 1956–57 shall be charged at the standard rate of eight shillings and sixpence 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 as Parliament may hereafter determine. 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.—[Mr. H. Macmillan.] put and agreed to.

5. Relief from income tax on savings bank interest

Motion made, and Question, That—

  1. (a) for the purposes of the Income Tax Acts other than surtax interest on deposits with the Post Office savings bank or ordinary deposits with a trustee savings bank which forms part of an individual's total income shall be disregarded up to fifteen pounds; and
  2. (b) for the purposes of the foregoing paragraph the income of a married woman living with her husband shall not be deemed to be his income;
and it is expedient for the purposes of any Act of the present Session relating to Finance to authorise such incidental charges to surtax as may result from increasing for the purposes of surtax the total income of an individual which for the purposes of income tax chargeable at the standard rate is reduced by the disregard of interest on savings bank deposits. But this Resolution shall not require any change to be made in the amounts deducted or repaid under section one hundred and fifty-seven (pay as you earn) of the Income Tax Act, 1952, before the sixth day of July, nineteen hundred and fifty-six. 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.—[Mr. H. Macmillan.] put and agreed to.

6. Suspension of investment allowances

Motion made, and Question, That investment allowances shall not be made for the year 1955–56 or later years of assessment in respect of expenditure incurred after the seventeenth day of February, nineteen hundred and fifty-six, except as may be provided by any Act of the present Session relating to Finance.—[Mr. H. Macmillan.] put and agreed to.

7. Income tax in respect of offices and employments

Motion made, and Question, That new provision shall be made for charging income tax on the emoluments of offices and employments.—[Mr. H. Macmillan.] put and agreed to.

8. Income tax (persons carrying on annuity business)

Motion made, and Question, That, in the case of persons carrying on the business of granting annuities, it is expedient—

  1. (a) it any provision is made for relieving from tax in whole or in part the income of part of any such person's annuity fund (being a provision having reference to annuity contracts designed to secure superannuation benefits or other provision for a person's retirement), to authorise such charges to tax as may result in particular cases from treating that part of the fund and the remainder thereof, and the annuity contracts and annuity business to which each is referable, separately for tax purposes, and in particular for the purpose of determining how far any annuities are to be treated as paid out of profits or gains brought into charge to tax; and
  2. (b) where any such person is not charged to tax under Case I of Schedule D in respect of the annuity business carried on by him, to provide for charging to tax the profits arising to him from that business or from any part of that business treated separately as aforesaid.—[Mr. H. Macmillan.]
put and agreed to.

9. Income tax (incidental charges)

Motion made, and Question, That for the purposes of any Act of the present Session relating to Finance it is expedient to authorise all such incidental charges to income tax (including charges for past years of assessment) as may result—

  1. (a) from any provision directing that the question whether a person is resident in the United Kingdom for income tax purposes shall be decided without regard to a place of abode maintained in the United Kingdom for his use;
  2. (b) from any provision treating overseas income as chargeable by reference to the time when it arises or is treated as arising, instead of the time when it is received in the United Kingdom, in certain cases where the person chargeable transfers it to the United Kingdom in the first year in which he is able, or from giving any such provision retrospective effect;
  3. (c) from any provision exempting pensions payable to persons resident outside the United Kingdom in respect of service in India, Pakistan, the colonies or certain other territories, or from giving any such provision retrospective effect;
  4. (d)from any provision extending the class of liabilities which are charges on residue for the purposes of Part XIX of the Income Tax Act, 1952.—[Mr. H. Macmillan.]
put and agreed to.

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