HC Deb 15 April 1958 vol 586 cc79-81

8. Income tax (charge for 1958–59)

Motion made, and Question, That income tax for the year 1958–59 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. Amory.] put and agreed to.

9. Income tax (surtax rates for 1957–58)

Motion made, and Question, That income tax for the year 1957–58 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 1956–57. 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. Amory.] put and agreed to.

10. income tax (personal reliefs)

Motion made, and Question, That—

  1. (a) in section thirteen of the Finance Act. 1957 (relief for persons over sixty-five with small incomes)—
    1. (i) for the references to two hundred and fifty pounds and four hundred pounds (which refer to the income limits for exemption under that section) there shall be substituted references to two hundred and seventy-five pounds and four hundred and forty pounds respectively; and
    2. (ii) for the reference to fifty pounds (which refers to the excess over those limits by reference to which relief under that section by reduction of tax is limited) there shall be substituted a reference to fifty-five pounds;
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  2. (b) in subsections (2) and (3) (old age relief) of section two hundred and eleven of the Income Tax Act, 1952, for the references to seven hundred pounds (which refer to the income limit for the full relief under subsection (2)) there shall be substituted references to eight hundred pounds;
  3. (c) in section two hundred and sixteen of the Income Tax Act, 1952 (dependent relatives), for the references to one hundred and sixty-five pounds and one hundred and five pounds (which refer to the income of the dependent relative) there shall be substituted respectively references to one hundred and ninety-five pounds and one hundred and thirty-five pounds;
but paragraphs (a) and (b) of 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 twenty-second day of June, nineteen hundred and fifty-eight. 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. Amory.] put and agreed to.

11. income tax (dividends paid out of accumulated profits)

Motion made, and Question, That provision shall be made (including provision as respects past years of assessment) for amending the law as to the circumstances in which—

  1. (a) certain dividends are to be treated as paid out of accumulated profits;
  2. (b) dividends so paid are to be brought into account as trade receipts which have not borne tax;
  3. (c) exemptions from tax are not to apply to dividends so paid;
and for restricting relief for losses by repayment of tax in the case of tax on dividends so paid.—[Mr. Amory.] put and agreed to.

12. Income tax (settlements)

Motion made, and Question, That new provisions shall be made as to the circumstances in which income arising under a settlement or sums payable by a settlor or the wife or husband of a settlor are to be treated under section four hundred and four of the Income Tax Act, 1952, as income of the settlor and not as income of any other person (and are to be so treated for surtax purposes for the year 1957–58 as well as subsequent years of assessment) and for removing with retrospective effect doubts as to the settlements to which that section and section four hundred and five of that Act apply.—[Mr. Amory.] put and agreed to.

13. 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 extending the limits of time within which certain applications, claims, elections or payments may be made or notices given;
  2. (b) from any provision exempting from liability to income tax pensions payable to or in respect of persons who have served as officers to whom the Overseas Service Act, 1958, applies, so far as they are payable to persons resident outside the United Kingdom.—[Mr. Amory.]
put and agreed to.