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Part II.
Income Tax.
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Increase of income tax and super-tax.
1 & 5 Geo 5. c. 10.
1 & 2 Geo. 5. c. 2.
3 & 4 Geo. 5. c. 3.
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12.—(1) In order, as far as may be, to provide for the collection of income tax (including super-tax) for the last four months of the current income-tax year at double the rates at which it is charged under the Finance Act, 1914, the following provisions shall have effect:—
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(a) The amount payable in respect of any assessment already made of income tax chargeable otherwise than by way of deduction, or of super-tax, shall be treated as increased by one-third, and any authority to collect the tax, and remedy for non-payment of the tax, shall apply accordingly; and
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(b) An assessment of any such income tax or super-tax not already made shall be made for an amount one-third more than that for which it would have been made if this Act had not passed; and
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(c) Such deductions shall be made in accordance with regulations prescribed by the Commissioners of Inland Revenue in the case of dividends, interest, or other annual sums (including rent) due or payable after the fifth day of December nineteen hundred and fourteen as will make the total amount deducted in respect of income tax for the year equal to that which would have been deducted if income tax for the year had been at the rate of one shilling and eightpence; and
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(d) Subsection (1) of section fourteen of the Revenue Act, 1911, shall apply, in cases where both the half-yearly payments referred to therein have been paid before the passing of this Act, as if this Act were the Act imposing income tax for the year, and as if one shilling and eightpence were the rate ultimately charged for the year; and
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(e) Where the amount of any exemption, relief, or abatement under the Income Tax Acts is to be determined by reference to the amount of income tax on any sum, the amount of the tax shall be calculated at one shilling and eightpence, with a proportionate reduction where relief is granted under section six of the Finance Act, 1914; and where income tax is payable in respect of a part only of a year, the tax shall be deemed to be at the rate of one shilling and eightpence.
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(2) For the purpose of the Provisional Collection of Taxes Act, 1913, or of continuing income tax for any future income tax year, the rate of income tax for the current year shall be deemed to be two shillings and sixpence.
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