Finance Act 1945
| Jurisdiction | UK Non-devolved |
| Citation | 1945 c. 24 |
| Year | 1945 |
Finance Act, 1945
(8 & 9 Geo. 6.) CHAPTER 24.
An Act to grant certain duties, to alter other duties, and to amend the law relating to the Public Revenue and the National Debt.
[15th June 1945]
Most Gracious Sovereign,
We , Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom 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:—
1 Hops, etc., and beer.
(1) The duties charged by virtue of subsection (1) of section one of the Finance Act, 1941 , until the end of the fifteenth day of August, nineteen hundred and forty-five, namely—
(a ) the duties of customs charged on hops and extracts, essences or other similar preparations made from hops under subsection (1) of section seven of the Finance Act, 1925; and
(b ) the duty of customs charged on hop oil under the proviso to subsection (1) of section four of the Finance Act, 1929 ; and
(c ) the additional duty of customs charged in respect of beer under subsection (2) of section two of the Finance Act, 1933 ;
shall continue to be charged until the end of the fifteenth day of August, nineteen hundred and forty-nine.
(2) The drawback allowed by virtue of subsection (2) of section one of the Finance Act, 1941, until the end of the fifteenth day of November, nineteen hundred and forty-five, namely, the additional excise drawback allowed in respect of beer under subsection (4) of section two of the Finance Act, 1933, shall continue to be allowed until the end of the fifteenth day of November, nineteen hundred and forty-nine.
2 Purchase tax: definition of chargeable goods by reference to use of Board of Trade marks.
(1) In an order made under section twenty of the Finance (No. 2) Act, 1940 , the definition of the class of goods in respect of which the order is to have effect may be limited by reference to the use of any mark the use of which the Board of Trade have power to regulate, notwithstanding that the effect of the order as respects any particular goods may be thereby rendered dependent on the operation of any provision made by the Board in exercise of that power.
(2) Section nineteen of the Finance Act, 1942, is hereby repealed.
3 Income tax for 1945-46.
(1) Income tax for the year 1945-46 shall be charged at the standard rate of ten shillings in the pound, and, in the case of an individual whose total income exceeds one thousand five hundred pounds, at such higher rates in respect of the excess over one thousand five hundred pounds as Parliament may hereafter determine.
(2) Subject to the provisions of section twenty-six of the Finance Act, 1944, and of any Act of the present Session amending the law relating to income tax, all such enactments as had effect with respect to the income tax charged for the year 1944-45, 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 1945-46.
4 Higher rates of income tax for 1944-45.
4. Income tax for the year 1944-45 shall be charged at rates exceeding the standard rate in the case of individuals whose total incomes exceed two thousand pounds and in respect of the excess of their total incomes over that sum; and the said rates shall be rates in the pound which respectively exceed the standard rate for the year 1944-45 by the amounts specified in the second column of the...
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