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Finance Act 1942

Status:

This is the original version (as it was originally enacted).

  1. Introductory Text

  2. PART I CUSTOMS AND EXCISE.

    1. 1.Beer.

    2. 2.Spirits.

    3. 3.Wines.

    4. 4.Sweets.

    5. 5.Tobacco.

    6. 6.Entertainments.

    7. 7.Extension of period of stabilisation of Imperial preference in case of sugar, and c.

    8. 8.Rebate on heavy oil used for farm tractors.

    9. 9.Suspension of Part I of First Schedule to Finance Act, 1938.

    10. Excise Licences.

      1. 10.Relief from duty on liquor licences, and provisions as to justices' licences, where business discontinued owing to war circumstances.

      2. 11.Annual value for duty purposes where business restricted by war circumstances to part of premises.

      3. 12.Reduction of duty for hotels and restaurants applicable notwithstanding effect of war circumstances on receipts.

      4. 13.Reduction of duty on publicans' licences in respect of diminution in supplies of wines and spirits.

      5. 14.Relief from duty where trade diminished by war circumstances.

      6. 15.Postponement of instalments of monopoly value payments on annual licences where business discontinued owing to war circumstances.

      7. 16.Repeal of s. 14 of Excise Licenses Act, 1825.

  3. PART II PURCHASE TAX.

    1. 17.Higher rate of purchase tax on certain goods.

    2. 18.Charge of purchase tax on account books and plain books.

    3. 19.Provision as to orders for relief from purchase tax of utility goods.

    4. 20.Priority of purchase tax in bankruptcy, winding-up, and c.

  4. PART III INCOME TAX.

    1. 21.Income Tax for 1942-43.

    2. 22.Higher rates of income tax for 1941-42.

    3. 23.Increase of allowance in respect of wife's earned income.

    4. 24.Period of assessment in case of certain weekly wage-earners.

    5. 25.Extension to 1942-43 of s. 11 of Finance (No. 2) Act, 1939.

    6. 26.Expenses of employees, etc., in travelling to and from their work.

    7. 27.Continuance of allowance for repairs.

    8. 28.Farming.

    9. 29.Exemption from tax of interest on tax reserve certificates and repeal of provisions as to allowance of discount on tax paid in advance.

    10. 30.Amendment as to national savings certificates and Ulster savings certificates.

    11. 31.Exemption from income tax of accumulated interest, on certain Ulster, colonial and other savings certificates.

    12. 32.Alteration of certifying authority for the purposes of s. 18 (1) of Finance Act, 1941.

    13. 33.Extension of time for assessments, proceedings, etc., in cases of fraud or wilful default.

    14. 34.Provisions as to evidence in cases of fraud or wilful default.

    15. 35.Power to require production of accounts and books.

  5. PART IV EXCESS PROFITS TAX AND NATIONAL DEFENCE CONTRIBUTION.

    1. 36.Continuation of the national defence contribution.

    2. 37.Amendment of s. 28 of Finance Act, 1941.

    3. 38.Exemption from tax of interest on tax reserve certificates.

    4. 39.Successions and amalgamations.

    5. 40.Amendments of s. 18 (1) of Finance Act, 1941, to apply to excess profits tax and national defence contribution.

    6. 41.Part IV to be retrospective.

  6. PART V MISCELLANEOUS AND GENERAL.

    1. 42.Assessment and collection of income tax and land tax.

    2. 43.Rate of, and provisions as to redemption of, land tax.

    3. 44.Amendment of s. 74 of Finance (1909-10) Act, 1910.

    4. 45.Provisions as to permanent annual charge for the National Debt.

    5. 46.Amendment as to deficit for 1941-42.

    6. 47.Transfer and registration of Government stock.

    7. 48.Amendment of ss. 53 and 55 of National Debt Act, 1870.

    8. 49.Short title, construction, extent and repeal.

  7. SCHEDULES.

    1. FIRST SCHEDULE

      Beer (Rates of Duty and Drawback).

      1. PART I Rate of Excise Duty.

      2. PART II Rate of Excise Drawback.

      3. PART III Rate of Customs Duty in Case of Beer being an Empire Product.

      4. PART IV Rate of Customs Duty in Case of Beer not being an Empire Product.

      5. PART V Rate of Customs Drawback in case of Beer being an Empire Product.

      6. PART VI Rate of Customs Drawback in Case of Beer not being an Empire Product.

    2. SECOND SCHEDULE

      SPIRITS (RATES OF ORDINARY CUSTOMS DUTY).

    3. THIRD SCHEDULE

      Wines (Rates of Customs Duty).

      1. PART I

        1. Non-Empire Products.

      2. PART II

        1. Empire Products.

    4. FOURTH SCHEDULE

      Tobacco (Rates of Duty and Drawback).

      1. PART I

        1. Customs Duties.

      2. PART II

        1. Excise Duties.

      3. PART III

        1. Drawback.

    5. FIFTH SCHEDULE

      Entertainments (Rates of Duty).

      1. PART I

        1. Reduced Rates.

      2. PART II

        1. Full Rates.

    6. SIXTH SCHEDULE

      1. PART I Provisions as to Justices' Licences in Suspense by Reason of War Circumstances.

        1. Restoration to full force of licences in suspense.

          1. 1.Subject to the provisions of the next succeeding paragraph as...

          2. 2.In such a case as aforesaid, before a notice for...

          3. 3.Where a licence is deemed to have been in suspense...

          4. 4.Where a removal of a licence for the time being...

          5. 5.A licence in force for all purposes after being in...

        2. Extinguishment of licences remaining in suspense when suspension no longer justified.

          1. 6.Where the licensing justices are satisfied as respects any licence...

          2. 7.If His Majesty by Order in Council declares that there...

          3. 8.The licensing justices may, if application is made to them...

        3. Extinguishment of licences in suspense on grounds of conduct or fitness, or on reference to the compensation authority.

          1. 9.(1) Objection to the continuance of a licence which is...

          2. 10.(1) Where the licensing justices are of opinion, in the...

          3. 11.(1) If a discontinuance of business by virtue of which...

        4. Extension of authority to grant transfers in cases of licences in suspense.

          1. 12.Notwithstanding anything in paragraph (a) of subsection (2) of section...

        5. Appeal to Quarter Sessions.

          1. 13.The provisions of sections twenty-nine to thirty-two of the Licensing...

        6. General.

          1. 14.Any power exercisable by licensing justices under paragraph 2, 6...

          2. 15.The Secretary of State may make such rules, prescribe such...

          3. 16.In this Part of this Schedule the expression " the...

      2. PART II Provisions as to Certificates under the Licensing (Scotland) Acts, 1903 to 1934, in suspense by Reason of War Circumstances.

        1. Restoration to full force of certificates in suspense.

          1. 1.Subject to the provisions of the next succeeding paragraph as...

          2. 2.In such a case as aforesaid, before a notice for...

          3. 3.Where a certificate is deemed to have been in suspense...

          4. 4.Where a removal of a certificate for the time being...

          5. 5.A certificate in force for all purposes after being in...

        2. Extinguishment of certificate remaining in suspense when suspension no longer justified.

          1. 6.Where the licensing court are satisfied as respects any certificate...

          2. 7.If His Majesty by Order in Council declares that there...

          3. 8.The licensing court may, if application is made to them...

        3. Renewal of certificates in suspense.

          1. 9.The provisions of the Licensing Acts with regard to renewal...

        4. Provisions as to removal of certificates.

          1. 10.(1) Where the premises specified in any certificate which is...

        5. Appeals.

          1. 11.The provisions of section twenty-two of the Licensing (Scotland) Act,...

        6. General.

          1. 12.Any power exercisable by a licensing Court under the provisions...

        7. Interpretation.

          1. 13.In this Part of this Schedule the expression " the...

    7. SEVENTH SCHEDULE

      Purchase Tax.

      1. Goods chargeable at the higher rate.

    8. EIGHTH SCHEDULE

      Purchase Tax.

      1. Amendments of the Finance (No. 2) Act, 1940, consequential on introduction of higher rate of tax.

    9. NINTH SCHEDULE

      Amendments continuing the National Defence Contribution.

    10. TENTH SCHEDULE

      Provisions for simplifying the machinery of assessment, collection, etc..

      1. PART I Income Tax.

        1. 1.(1) The general notices prescribed by section ninety-eight of the...

        2. 2.It shall not be necessary that any certificate of assessment...

        3. 3.The assessors shall transmit their certificates of assessment under Schedules...

        4. 4.(1) Assessments under Schedule D when signed by the additional...

        5. 5.(1) Anything required by the Income Tax Acts to be...

        6. 6.(1) Section one hundred and thirty-four of the Income Tax...

        7. 7.(1) Sections one hundred and fifty, one hundred and fifty-three,...

        8. 8.(1) Every collector appointed by the Commissioners of Inland Revenue,...

        9. 9.(1) Collectors in Scotland and Northern Ireland shall, after the...

        10. 10.(1) Any collector appointed after the passing of this Act...

        11. 11.Section one hundred and fifty-six of the Income Tax Act,...

        12. 12.All clerks to commissioners, all assistants of such clerks, and...

        13. 13.(1) The provisions of this Part of this Schedule shall...

        14. 14.This Part of this Schedule shall be construed as one...

      2. PART II Land Tax.

        1. 1.The assessors, instead of appearing before the Land Tax Commissioners...

        2. 2.(1) An assessment may be signed and allowed, and the...

        3. 3.So much of section eight of the Land Tax Act,...

        4. 4.A schedule or return of arrears shall be valid for...

        5. 5.Every collector appointed by the Commissioners of Inland Revenue or...

        6. 6.(1) Collectors in Scotland shall, after the passing of this...

        7. 7.(1) Any collector appointed after the passing of this Act...

        8. 8.All clerks to Land Tax Commissioners and all assessors who...

        9. 9.The provisions of this Part of this Schedule shall have...

        10. 10.This Part of this Schedule shall be construed as one...

    11. ELEVENTH SCHEDULE

      Government Stock.

      1. PART I

        1. Descriptions of Stock and Bonds.

      2. PART II

        1. Consequential Amendments of Enactments relating to Government Stock.

        2. Consequential Amendment of Order in Council relating to Government Stock.

      3. PART III

        1. Consequential Repeal of Enactments relating to Government Stock.

        2. Consequential Repeal of Order in Council relating to Government Stock.

    12. TWELFTH SCHEDULE

      Enactments Repealed.

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