Finance Act 1927

20 Income tax and super-tax for 1927-28

(1) Income tax for the year 1927-28 shall be charged at the rate of four shillings, and the rates of super-tax for that year shall, for the purposes of section four of the [8 & 9 Geo. 5. c. 40.] Income Tax Act, 1918, as amended by the Finance Act, 1920, be the same as those for the year 1926-27.

(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 1926-27 shall, subject to the provisions of Part IV of the Finance Act, 1926, 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 of income tax under Schedules A and B for the year 1926-27 shall be taken as the annual value of that property for the same purpose for the year 1927-28 :

Provided that this subsection shall not apply to lands, tenements and hereditaments in the Administrative County of London with respect to which the valuation list under the [32 & 33 Vict. c. 67.] Valuation (Metropolis) Act, 1869, is by that Act made conclusive for the purposes of income tax.