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Revised Statute from The UK Statute Law Database

Finance Act 1946 (c.64)

This version of this statute is extracted from the UK Statute Law Database (SLD). It is not necessarily in the form in which it was originally enacted but is a revised version, which means that any subsequent amendments to the text and other effects are incorporated with annotations.

Royal arms

Finance Act 1946

1946 CHAPTER 64 9_and_10_Geo_6

Contents

Go to Preamble

  1. 1.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  2. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  3. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  4. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  5. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  6. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  7. 7.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  8. 8.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  9. 9.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  10. 10.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  11. 11.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  12. 12.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  13. 13.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  14. 14.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  15. 15–23.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  16. 24, 25... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  17. 26.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  18. 27–35.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  19. Part IV.

    Excess Profits Tax and the National Defence Contribution

    1. 36. Termination of excess profits tax

    2. 37. Relief from excess profits tax for terminal expenses

    3. 38. Relief for losses on sales of stock

    4. 39. Supplementary provisions as to relief for terminal expenses and losses on sales of stock

    5. 40. Replacement of buildings provided before 1937

    6. 41. Rehabilitation costs incurred before end of 1946

    7. 42. Cancellation costs

    8. 43. Matters occuring after certain dates

    9. 44.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    10. 45. Payments for technical education

    11. 46.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    12. 47.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  20. Part VI.

    The National Land Fund

    1. 48.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 49.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 50, 51... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  21. Part VII

    Stamp Duty

    1. 52. Exemption from stamp duty of documents connected with nationalisation schemes

    2. 53.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 54. Units under unit trust schemes to be treated as stock

    4. 55.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 56.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 57. Interpretation of Part VII

  22. Part VIII.

    Miscellaneous

    1. 58.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 59–61.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 62. Abolition of land tax assessors and income tax assessors, etc

    4. 63.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 64.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 65.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    7. 66.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    8. 67.†Short title, construction extent and repeals

  23. First Schedule.

  24. Second Schedule.

  25. Third Schedule

  26. Fourth and Fifth Schedules.

  27. Sixth Schedule.

  28. Seventh Schedule.

    Amendments Consequential on Termination of Excess Profits Tax

  29. Eighth Schedule

    Computation of Losses on Sales of Stock

  30. Ninth Schedule

    Supplementary Provisions as to Claims for Relief for Terminal Expenses and LOSSES ON sales of Stock

  31. Tenth Schedule.

  32. Eleventh Schedule.

  33. Twelth Schedule.

An Act to grant certain duties, to alter other duties, and to amend the law relating to the Public Revenue and the National Debt, and to make further provision in connection with Finance.

[1st August 1946]X1

Annotations:

Commencement Information

I1Act partly in force at Royal Assent, partly retrospective, see individual sections; all provisions so far as unrepealed wholly in force at 1.2.1991.

Editorial Information

X1Ss. 48, 50, 51, 62, 63, 66, 67(1)(8)(9) were taken from S.I.F Group 99:1 (Public Finance and Economic Controls: Government Finance and Accounting), ss. 52 – 57 and 67(1)(7)–(9) from S.I.F. Group 114 (Stamp Duty); provisions omitted from S.I.F. have been dealt with as referred to in other commentary.

1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 1 repealed by Finance Act 1951 (c. 43), s. 44(9), Sch. 7

2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 2 repealed by Customs and Excise Act 1952 (c. 44), s. 320, Sch. 12 Pt. I; Finance Act 1962 (c. 44), ss. 3(3)(5), 34(7), Schs. 6, 11 Pt. II

3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 3 repealed by Customs and Excise Act 1952 (c. 44), s. 320, Sch. 12 Pt. I

4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 4 repealed by Statute Law Revision Act 1950 (c. 6)

5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 5 repealed by Finance Act 1947 (c. 35), s. 74, Sch. 11 Pt. I

6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 6 repealed by Customs and Excise Act 1952 (c. 44), s. 320, Sch. 12 Pt. I

7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 7 repealed by Finance Act 1952 (c. 33), s. 76(8), Sch. 14 Pt. II

8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 8 repealed by Finance Act 1957 (c. 49), s. 42(5), Sch. 9 Pt. I

9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 9 repealed by Customs and Excise Act 1952 (c. 44), s. 320, Sch. 12 Pt. I; Statute Law Revision Act 1953 (c. 5); Statute Law (Repeals) Act 1971 (c. 52)

10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 10 repealed by Finance Act 1959 (c. 58), s. 37(5), Sch. 8 Pt. I

11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 11 repealed by Statute Law (Repeals) Act 1971 (c. 52)

12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 12 repealed by Licensing Act 1953 (c. 46), s. 168, Sch. 10

13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 13 repealed by Licensing (Scotland) Act 1959 (c. 51), S. 200(1), Sch. 12

14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 14 repealed by Vehicles (Excise) Act 1949 (c. 89), s. 30, Sch. 7

15–23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1Pt. II (ss. 15–23) repealed by Purchase Tax Act 1963 (c. 9), s. 41(1), Sch. 4 Pt. 1

24, 25.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1Ss. 24, 25 repealed (with savings) by Income Tax Act 1952 (c. 10), s. 527, Sch. 52

26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1S. 26 repealed (with savings) by Income Tax Act 1952 (c. 10), s. 527, Sch. 25; Income Tax (Repayment of Post-War Credits) Act 1959 (c. 28), s. 1(7)

27–35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

Annotations:

Amendments (Textual)

F1Ss. 27–35 repealed (with savings) by Income Tax Act 1952 (c. 10), s. 527, Sch. 25

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