Finance Act, 1978

Alteration of time for payment of tax by certain farmers.

16.—(1) Section 477 of the Income Tax Act, 1967 , is hereby amended—

(a) by the insertion in paragraph (a) of subsection (2) of “other than tax to which subsection (2B) applies” after “professions”, and

(b) by the insertion after subsection (2A) of the following subsection—

“(2B) (a) This subsection applies, as respects assessments for the year 1978-79 and subsequent years of assessment, to tax appropriate to the profits or gains from farming within the meaning of Chapter II of the Finance Act, 1974 , contained in any such assessment made on an individual, other than an individual to whom section 16 of the Finance Act, 1974 , applies.

(b) Tax to which this subsection applies shall be payable on or before the 1st day of January in the year of assessment for which it is charged, except that where such tax is included in an assessment for any such year made on or after the 1st day of January, the tax shall be deemed to be due and payable on the day next after the day on which the assessment is made.”,

and the said paragraph (a), as so amended, is set out in the Table to this section.

(2) In relation to any assessment to tax made on an individual (other than an individual to whom section 16 of the Finance Act, 1974 , applies) for the year 1978-79 or any subsequent year of assessment in respect of profits or gains from farming, section 20 (2) of the Finance Act, 1971 , shall have effect as if section 6 (2) of the Finance Act, 1976 , and section 4 of the Finance Act, 1977 , had not been enacted.


(a) tax charged under Schedule D on any individual in respect of the profits or gains of any trade or profession other than tax to which subsection (2B) applies, and