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Revised Statute from The UK Statute Law Database

Finance Act 1950 (c. 15)

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 It is not necessarily in the form in which it was originally enacted but is a revised version, which means that any subsequent amendments to the text and other effects are incorporated with annotations.

There are effects on this legislation that have not yet been applied to SLD for the following years: 2004, 2005 and 2009. See the Tables of Legislative effects and the Update status of legislation page on the SLD website.

Royal arms

Finance Act 1950

1950 CHAPTER 15 14_Geo_6

Contents

Go to Preamble

  1. Part I

    1. 1.

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

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

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

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

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

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

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

    9. 9—12... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    10. 13.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    11. 14.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    12. 15.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    13. 16.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    14. 17.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    15. 18, 19... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    16. 20, 21... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  2. Part II

    1. 22–35.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  3. Part III

    Miscellaneous Provisions as to Income Tax and Other Taxes

    1. 36.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 37.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 38.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 39. Treatment for taxation purposes of enemy debts, etc., written off during the war

    5. 40. Modification of last preceding section in the case of recoveries by assignees and in certain cases of subsidiary companies

    6. 41. Remission in certain cases of interest on tax in arrear by reason of exchange restrictions

    7. 42.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  4. Part IV

    1. 43—48... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  5. Part V

    Miscellaneous

    1. 49.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 50.†Short title, construction, extent and repeals

  6. SCHEDULE 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  7. SCHEDULE 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  8. SCHEDULE 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  9. SCHEDULE 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  10. SCHEDULE 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  11. SCHEDULE 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  12. SCHEDULE 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  13. SCHEDULE 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

An Act to grant certain duties and alter other duties, to make certain amendments of the law relating to purchase tax, to amend the law relating to other branches of the public revenue or to the National Debt, and to make further provision in connection with Finance.

[28th July 1950]X1

Annotations:

Modifications etc. (not altering text)

C1Words of enactment omitted under authority of Statute Law Revision Act 1948 (c. 62), s. 3

C2General amendments etc. to Tax Acts (or Income Tax Acts or Corporation Tax Acts as the case may be) made by Taxes Management Act 1970 (c. 9, SIF 63:1), s. 41A(7) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 95(1)(2)), British Telecommunications Act 1981 (c. 38, SIF 96), s. 82(2)(7); Telecommunications Act 1984 (c. 12, SIF 96), s. 72(3); Finance Act 1984 (c. 43, SIF 63:1), ss. 82(6), 85(2), 89(1)(7), 96(1)(7), 98(7), Sch. 9 para. 3(2)(9), Sch. 16 paras. 6, 12 and Finance Act 1985 (c. 54, SIF 63:1), ss. 72(1), 74(5), Sch. 23 para. 15(4), S.I. 1987/530, regs. 11(2), 13(1), 14, Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss. 4, 6, 7, 9, 32, 34, 78, 134, 135, 141, 142, 185, 191, 193, 194, 195, 200, 203, 209, 212, 213, 219, 247, 253, 272, 287, 314, 315, 317, 318, 325, 326, 327, 345, 350, 351, 368, 375, 381, 397, 414, 432, 440, 442, 446, 458, 460, 461, 463, 463(2)(3) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 50(2) ), 468, 474, 475, 486, 490, 491, 503, 511, 518, 524, 532, 544, 550, 556, 558, 569, 572, 582, 595, 601, 613, 617, 619, 621, 639, 656, 660, 663, 676, 689, 691, 694, 700, 701, 714, 716, 739, 743, 754, 763, 776, 780, 781, 782, 787, 789, 811, 828, 829, 832, 833, 834, 835, 837, 838, 839, 840, 841, 842, Sch. 2 para. 5, Sch. 4 para. 5, Sch. 13 para. 10, Sch. 16 para. 10, Sch. 21 para. 6, Sch. 26 para. 1, Sch. 27 para. 20, Finance Act 1988 (c. 39, SIF 63:1), ss. 66, 127(1)(6), Sch. 12 para. 6, Capital Allowances Act 1990 (c. 1, SIF 63:1), ss. 28(1), 68(8), 74, 82, 83(5), 148(5), 163(4), 164(2), S.I. 1990/627 and Finance Act 1990 (c. 29, SIF 63:1), s. 25(10)

Extent Information

E1For extent of this Act see s. 50(7)

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. Some provisions came into force at specific times of the day.

Editorial Information

X1General amendments to Tax Acts, Income Tax Acts, and/or Corporation Tax Acts made by legislation after 1.2.1991 are noted against Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) but not against each Act

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