Finance Act, 1921
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Part II. Income Tax. | ||
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Income tax and super-tax for 1921–22. 8 & 9 Geo. 5. c. 40. 32 & 33 Vict. c. 67. |
24.—(1) Income tax for the year 1921–22 shall be charged at the rate of six shillings, and the rates of super-tax for that year shall, for the purposes of section four of the Income Tax Act, 1918, as amended by the Finance Act, 1920 , be the same as those for the year 1920–21. | |
(2) All such enactments relating to income tax and super-tax respectively as were in force with respect to the duties of income tax and super-tax granted for the year 1920–21, shall have full force and effect with respect to the duties of income tax and super-tax respectively granted by this Act. | ||
(3) The annual value of any property which has been adopted for the purpose either of income tax under Schedules A. and B., or of inhabited house duty, for the year 1920–21, shall be taken as the annual value of that property for the same purpose for the year 1921–22: | ||
Provided that this subsection—— | ||
(a) so far as respects the duty on inhabited houses in Scotland, shall be construed as referring to a year of assessment ending on the twenty-fourth day of May instead of to a year of assessment ending on the fifty day of April; and | ||
(b) shall not apply to lands, tenements, and hereditaments in the administrative county of London with respect to which the valuation lise under the Valuation (Metropolis) Act, 1869, is by that Act, made conclusive for the purposes of income tax and inhabited house duty. |