Finance (No. 2) Act 1931
| Jurisdiction | UK Non-devolved |
| Citation | 1931 c. 49 |
| Year | 1931 |
Finance (No. 2) Act, 1931
(21 & 22 Geo. 5.) CHAPTER 49.
An Act to increase the Customs and Excise duties on beer and tobacco, the Customs duty on hydrocarbon oils, and the entertainments duty; to increase the standard rate of income tax for the year 1931-32, and the higher rates of income tax for the year 1930-31; to amend the Income Tax Acts in so far as they relate to certain reliefs and the tax payable by persons carrying on a trade consisting wholly or partly in dealing in securities; to amend section thirty-six of the Finance Act, 1931, and the law relating to the National Debt; and to make provision for certain matters connected with the matters aforesaid.
[5th October 1931]
Most Gracious Sovereign,
W E, 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:—
Part I.
Customs and Excise.
1 Increased duties and drawbacks on certain descriptions of beer.
(1) As from the eleventh day of September, nineteen hundred and thirty-one, there shall be charged in respect of beer brewed in the United Kingdom (not being beer of any of the descriptions specified in of section two of the Finance Act, 1930 ) the following duty of Excise in lieu of the duty charged under section one of that Act,—
For every thirty-six gallons of worts of a specific gravity of one thousand and fifty-five degrees |
s. d. 6 14 0 |
and on the exportation from the United Kingdom as merchandise or for use as ships' stores of any beer on which it is shown that the Excise duty charged by this section has been paid, there shall be allowed the following Excise drawback in lieu of the drawback allowed under the said section one,—
For every thirty-six gallons of an original gravity of one thousand and fifty-five degrees |
s. d. 6 14 3 |
and so as to both duty and drawback in proportion for any difference in quantity or gravity.
(2) As from the date aforesaid there shall be charged on beer imported into the United Kingdom (not being beer of any of the descriptions specified in subsection (1) of section two of the Finance Act, 1930), the following duty of Customs in lieu of the duty charged by subsection (2) of the said section two,—
For every thirty-six gallons where the worts thereof were before fermentation of a specific gravity of one thousand and fifty-five degrees |
s. d. 6 14 6 |
and on the exportation or shipment for use as stores of any beer on which it is shown that the Customs duty charged by this section has been paid, there shall be allowed the following Customs drawback in lieu of the drawback allowed under the said section two,—
For every thirty-six gallons of an original gravity of one thousand and fifty-five degrees |
s. d. 6 14 3 |
and so as to both duty and drawback in proportion for any difference in gravity.
(3) Nothing in this section shall affect the provisions of section seven of the Finance Act, 1925 , with respect to the additional duty and drawbacks in respect of beer to be paid and allowed respectively under the said section.
2 Increased duties and drawbacks on tobacco.
(1) As from the eleventh day of September, nineteen hundred and thirty-one, in lieu of the Customs duties theretofore payable on tobacco there shall, subject to the provisions of section eight of the Finance Act, 1919 , be charged on tobacco imported into the United Kingdom the duties specified in Part I of the First Schedule to this Act.
(2) As from the date aforesaid there shall in lieu of the Excise duties theretofore payable on tobacco be charged on tobacco grown in the United Kingdom the duties specified in Part II of the First Schedule to this Act.
(3) The drawback allowed under section one of the Manufactured Tobacco Act, 1863 , on tobacco exported from the United Kingdom or deposited in a bonded or King's warehouse shall, in cases where it is shown that the duties charged by this section have been paid, be allowed at the rates set out in Part III of the First Schedule to this Act instead of at the rates set out in Part III of the Second Schedule to the Finance Act, 1927 , but subject to the provisions affecting allowance of drawback contained in the Schedule to the Finance Act, 1904 .
3 Increase of Customs duty on hydrocarbon oils.
(1) As from six o'clock in the evening on the tenth day of September, nineteen hundred and thirty-one, the rate of the Customs duty payable under section two of the Finance Act, 1928 , on hydrocarbon oils shall be increased from sixpence per gallon to eight pence per gallon.
(2) The rate of the rebate to be allowed under subsection (3) of the said section on the delivery for home consumption of any oils other than light oils shall be increased from sixpence per gallon to eight pence per gallon.
4 Prohibition on mixing of hydrocarbon oils, on which rebate allowed, with light oils.
(1) It shall not be lawful for any person to mix any hydrocarbon oils in respect of which a rebate of duty has been allowed under subsection (3) of section two of the Finance Act, 1928, with any light oils within the meaning of the said subsection, unless he is acting under the authority of a licence granted by the Commissioners of Customs and Excise, and has, before the mixing, paid the duty which would have been paid if the rebate had not been allowed.
(2) If any person in contravention of this section mixes any such hydrocarbon oils as aforesaid with any light oils he shall be liable at the option of the Commissioners of Customs and Excise either to a Customs penalty equal to three times the value of the oils mixed, including any duty chargeable thereon, or to a Customs penalty of one hundred pounds, and the mixture shall be forfeited.
(3) For the purposes of this section, a person shall not be deemed to be acting under the authority of a licence if he fails to comply with or acts in contravention of any conditions attached to the licence.
5 Increased rate of entertainments duty.
5. As from the ninth day of November, nineteen hundred and thirty-one, entertainments duty within the meaning of the Finance (New Duties) Act, 1916, shall, in Great Britain, be charged at the rate set out in the Second Schedule to this Act.
Part II.
Income Tax.
6 Increase in standard rate of income tax for 1931-32.
(1) The standard rate of income tax for the year 1931-32 shall be the rate of five shillings in the pound instead of the rate of four shillings and sixpence in the pound as provided by subsection (1) of section five of the Finance Act, 1931 , and accordingly it is hereby declared that any deductions of tax made before the passing of this Act by reference to a rate of five shillings are to be treated for all purposes (including all the purposes of any legal proceedings instituted before the passing of this Act) as having been made by reference to the proper rate:
Provided that this subsection shall not invalidate anything done before the passing of this Act or render improper any deduction in respect of income tax made before the fifteenth day of October, nineteen hundred and thirty-one, which would have been a proper deduction if this Act had not passed.
(2) The provisions of the Third Schedule to this Act shall have effect for the purposes of and in connection with the change in the standard rate of income tax made by this section.
7 Higher rates of income tax for 1930-31.
7. Section six of the Finance Act, 1931 (which determines the higher rates of income tax for the year 1930-31), shall have effect as if each of the amounts specified in the second column of the Table contained in that section were increased by ten per cent., and the amount payable by virtue of any assessment in respect of sur-tax for the year 1930-31 made before the passing of this Act shall, by virtue of this Act and without more, be treated as varied accordingly.
8 Amendments of enactments relating to income tax reliefs.
(1) The enactments specified in the second column of the Fourth Schedule to this Act (being enactments which relate to the income tax reliefs described in the first column of the said Schedule) shall be amended in the manner specified in the third column of the said Schedule.
(2) Where relief from income tax for the year 1931-32 has been given to any individual and the amount thereof is incorrect by reason of any of the amendments made by this section, then—
(a ) if the relief was given by the reduction of an assessment on that individual, the assessment shall, by virtue of this Act and without more, be treated as varied so as to give...
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