Finance Act 1914
| Jurisdiction | UK Non-devolved |
Finance Act, 1914
(4 & 5 Geo. 5.) CHAPTER 10.
An Act to continue the Duty of Customs on Tea, to re-impose Income Tax and Super-Tax, with amendments and modifications, and to amend the Law relating to Death Duties and the National Debt, and for purposes incidental thereto.
[31st July 1914]
Most Gracious Sovereign,
We , Your Majesty's most dutiful and loyal subjects the Commons of the United Kingdom of Great Britain and Ireland in Parliament assembled, towards raising the necessary supplies to defray Your Majesty's public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:
Part I.
Customs,
1 Duty on tea.
1. The duty of Customs payable on tea until the first day of July, nineteen hundred and fourteen, under the Finance Act, 1913, shall continue to be charged, levied, and paid until the first day of July nineteen hundred and fifteen, on the importation thereof into Great Britain or Ireland (that is to say):—
Tea, the pound |
fivepence. |
Part II.
Income Tax.
2 Income tax for 1914-15.
(1) Income tax for the year beginning on the sixth day of April, nineteen hundred and fourteen, shall be charged at the rate of one shilling and threepence.
(2) All such enactments relating to income tax as were in force with respect to duties of income tax granted for the year beginning on the sixth day of April, nineteen hundred and thirteen, shall have full force and effect with respect to any duties of income tax hereby granted.
(3) The annual value of any property which has been adopted for the purpose either of income tax under Schedules A. and B. in the Income Tax Act, 1853 , or of inhabited house duty, for the year ending on the fifth day of April, nineteen hundred and fourteen, shall be taken as the annual value of such property for the same purpose for the next subsequent year; provided that this subsection—
(a ) so far as respects the duty on inhabited houses in Scotland, shall be construed with the substitution of the twenty-fourth day of May for the fifth day of April; and
(b ) shall not apply to the metropolis as defined by the Valuation (Metropolis) Act, 1869 .
3 Super-tax for 1914-15.
(1) In addition to the income tax charged at the rate of one shilling and threepence under this Act there shall be charged, levied, and paid for the year beginning on the sixth day of April, nineteen hundred and fourteen, in respect of the income of any individual, the total of which from all sources exceeds three thousand pounds, an additional duty of income tax (in this Act referred to as super-tax) at the following rates:—
In respect of the first two thousand five hundred pounds of the income |
nil. |
In respect of the excess over two thousand five hundred pounds— |
|
for every pound of the first five hundred pounds of the excess |
fivepence |
for every pound of the next one thousand pounds of the excess |
sevenpence |
for every pound of the next one thousand pounds of the excess |
ninepence |
for every pound of the next one thousand pounds of the excess |
elevenpence |
for every pound of the next one thousand pounds of the excess |
one shilling and a penny |
for every pound of the next one thousand pounds of the excess |
one shilling and threepence |
for every pound of the remainder of the excess |
one shilling and fourpence. |
(2) All such enactments relating to super-tax as were in force with respect to the super-tax granted for the year beginning on the sixth day of April, nineteen hundred and thirteen, shall have full force and effect with respect to the super-tax granted under this section:
Provided that in estimating total income for the purposes of super-tax for the year beginning the sixth day of April, thirteen hundred and fourteen, a deduction may be made (in addition to those authorised in paragraph (a ) of subsection (2) of section sixty-six of the Finance (1909-10) Act, 1910 ) of any additional sum on which it is shown to the Commissioners of Inland Revenue that duty would have been repayable in respect of maintenance, repairs, insurance, and management if this Act had been in force during the year by reference to which the total income is estimated.
4 Modification of relief given in respect of earned income.
(1) The following subsection shall be substituted for subsection (1) of section nineteen of the Finance Act, 1907 (which provides for the reduction of the income tax payable in respect of earned income), namely:—
(1) Any individual who claims and proves in manner provided by this section that his total income from all sources does not exceed two thousand five hundred pounds, and that any part of that income is earned income, shall be entitled, subject to the provisions of this section, to such relief from income tax as will reduce the amount payable on the earned income to the amount which would be payable if the tax were charged on that income at the rate of—
ninepence if the total income does not exceed one thousand pounds;
tenpence halfpenny if the total income exceeds one thousand pounds but does not exceed one thousand five hundred pounds;
one shilling if the total income exceeds one thousand five hundred pounds but does not exceed two thousand pounds;
one shilling and twopence if the total income exceeds two thousand pounds but does not exceed two thousand five hundred pounds.’
(2) Section sixty-seven of the Finance (1909-10) Act, 1910, shall cease to have effect.
5 Taxation of income in respect of foreign property.
5. Income tax in respect of income arising from securities, stocks, shares, or rents in any place out of the United Kingdom shall, notwithstanding anything in the rules under the fourth and fifth case in section one hundred of the Income Tax Act, 1842, be computed on the full amount of the income, whether the income has been or will be received in the United Kingdom or not, subject in the case of income not received in the United Kingdom to the same deductions and allowances as if it had been so received and to the deduction (where such a deduction cannot be made under any other provision of the Income Tax Acts) of any sum which shall have been paid in respect of income tax in the place where the income shall have arisen, and to a deduction on account of any annual interest or any annuity or other annual payment payable out of the income to a person not resident in the United Kingdom; and the provisions of the Income Tax Acts (including those relating to returns) shall apply accordingly, and nothing in those provisions as to the receipt of sums in the United Kingdom shall be construed so as to render liable under those rules to income tax for the current or any subsequent year any sums which represent—
Provided that this section shall not apply in the case of a person who satisfies the Commissioners of Inland Revenue that he is not domiciled in the United Kingdom, or that, being a British subject, he is not ordinarily resident in the United Kingdom.
Any person aggrieved by any decision of the Commissioners of Inland Revenue, on a question of domicile or residence under this section, shall have the same right to require those Commissioners to state a case on the question as an appellant has to require the general or special Commissioners to state a case on a point of law, and section fifty-nine of the Taxes Management Act, 1880, and any rules made for the purposes of that section shall apply accordingly.
6 Relief of small incomes from increased tax.
(1) If any individual who has been assessed or charged to income tax, or has paid income tax either by way of deduction or otherwise, claims and proves in manner prescribed by the Income Tax Acts that his total income from all sources does not exceed five hundred pounds, he shall be entitled to such relief from income tax as will reduce the amount of income tax on his income to the amount which would have been paid if the tax were charged on that income—
(a ) at the rate of one shilling and twopence if his income exceeds three hundred pounds; and
(b ) at the rate of one shilling if his income does not exceed three hundred pounds.
(2) The relief given under this section shall be in addition to and not in derogation of any exemption, or other relief, or abatement under the Income Tax Acts, but where any such exemption, relief, or abatement is to be determined by reference to the amount of the income tax on any sum, the amount of the tax shall be calculated at the reduced rate.
(3) All the provisions of the Income Tax Acts which relate to claims for exemption, relief, or abatement, or the proof to be given with respect to those claims, shall apply to claims for relief under this section and the proof to be given with respect to those claims.
(4) An individual shall not be entitled to relief under this section in respect of any income the tax on which he is entitled to charge against any other person, or to deduct, retain, or satisfy out of any payment which he is liable to make to any other person.
7 ...
To continue reading
Request your trial