Finance Act 1949

SCHEDULES

Section 2.

FIRST SCHEDULE Beer (Rates of Duty and Drawback)

PART I Rate of Excise Duty

	£	s.	d.
For every 36 gallons of worts of a specific gravity of 1,027 degrees or less	7	17	10 ½
For every 36 gallons of worts of a specific gravity exceeding 1,027 degrees—
For the first 1,027 degrees	7	17	10 ½
For every additional degree in excess of 1,027 degrees		6	7 ½
And so in proportion for any less number of gallons.

PART II Rate of Excise Drawback

	£	s.	d.
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity of 1,027 degrees or less	7	18	0 ½
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity exceeding 1,027 degrees—
For the first 1,027 degrees	7	18	0 ½
For every additional degree in excess of 1,027 degrees		6	7 ½
And so in proportion for any less number of gallons.
As respects beer the worts Whereof were, before fermentation, of a specific gravity of less than 1,027 degrees the amount of drawback allowable shall not exceed by more than twopence for every 36 gallons the amount of duty which is shown to the satisfaction of the Commissioners to have been paid.

PART III Rate of Customs Duty in case of Beer being an Empire Product

	£	s.	d.
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity of 1,027 degrees or less	7	18	3 ½
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity exceeding 1,027 degrees—
For the first 1,027 degrees	7	18	3 ½
For every additional degree in excess of 1,027 degrees		6	7 ½
And so in proportion for any less number of gallons.

PART IV Rate of Customs Duty in case of Beer not being an Empire Product

	£	s.	d.
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity of 1,027 degrees or less	8	18	3 ½
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity exceeding 1,027 degrees—
For the first 1,027 degrees	8	18	3 ½
For every additional degree in excess of 1,027 degrees		6	7 ½
And so in proportion for any less number of gallons.

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

	£	s.	d.
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity of 1,027 degrees or less	7	18	0 ½
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity exceeding 1,027 degrees—
For the first 1,027 degrees	7	18	0 ½
For every additional degree in excess of-1,027 degrees		6	7 ½
And so in proportion for any less number of gallons.
As respects beer the worts whereof were, before fermentation, of a specific gravity of less than 1,027 degrees, the amount of drawback allowable shall not exceed the amount of duty which is shown to the satisfaction of the Commissioners to have been paid, less threepence for every 36 gallons.

PART VI Rate of Customs Drawback in case of Beer not being an Empire Product

	£	s.	d.
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity of 1,027 degrees or less	8	18	0 ½
For every 36 gallons the worts whereof were, before fermentation, of a specific gravity exceeding 1,027 degrees—
For the first 1,027 degrees	8	18	0 ½
For every additional degree in excess of 1,027 degrees		6	7 ½
And so in proportion for any less number of gallons.
As respects beer the worts whereof were, before fermentation, of a specific gravity of less than 1,027 degrees, the amount of drawback allowable shall not exceed the amount of duty which is shown to the satisfaction of the Commissioners to have been paid, less threepence for every 36 gallons.

Section 4.

SECOND SCHEDULE Wines (Rates of Customs Duty)

Description of wine	Rate of duty Non-Empire product			per gallon Empire product
	£	s.	d.	£	s.	d.
Light wines:—
Still—
not in bottle at		13	0		11	0
in bottle at.	1	7	6	1	4	6
Sparkling at	1	17	6	1	15	6
Other wines :—
Still—
not in bottle at	2	10	0	2	0	0
in bottle at.	2	12	6	2	1	6
Sparkling at	3	2	6	2	12	6
together, in the case of wine exceeding 42. degrees proof spirit, with an additional duty for each degree or fraction of a degree of the excess at		4	2		3	4
For the purposes of this Schedule, the expression "light wine " means wine not exceeding 25 degrees or, in the case of wine being an Empire product, 27 degrees of proof spirit.

Section 5.

THIRD SCHEDULE Sweets (Rates of Excise Duty)

Description of Sweets	Rate of duty per gallon
	£	s.	d.
Not exceeding 27 degrees proof spirit—
Still at		10	6
Sparkling at	1	8	6
Exceeding 27 degrees proof spirit—
Still at	1	10	6
sparkling at	1	16	6

Section 6.

FOURTH SCHEDULE Sugar, etc. (Rates of Duty and Drawback)

PART I Full Rates of Customs Duty and of General Preferential Reductions

Article	Rate of Customs duty		General Preferential Reduction
	s.	d.	s.	d.
Sugar of a polarisation exceeding 99° the cwt.	11	8	5	10
Sugar of a polarisation exceeding— the cwt.
98° but not exceeding 99°	11	8	6	10.8
97° but not exceeding 98° the cwt.	8	7	3	11.3
96° but not exceeding 97° the cwt.	8	4.3	3	10.0
95° but not exceeding 96° the cwt.	8	1.6	3	8.8
94° but not exceeding 95° the cwt.	7	10.9	3	7.6
93° but not exceeding 94° the cwt.	7	8.2	3	6.3
92° but not exceeding 93° the cwt.	7	5.6	3	5.1
91° but not exceeding 92° the cwt.	7	2.9	3	3.9
90° but not exceeding 91° the cwt.	7	0.2	3	2.6
89° but not exceeding 90° the cwt.	6	9.5	3	1.4
88° but not exceeding 89° the cwt.	6-	6.8	3	0.2
87° but not exceeding 88° the cwt.	6	4.6	2	11.1
86° but not exceeding 87° the cwt.	6	2.3	2	10.1
85° but not exceeding 86° the cwt.	6	0.3	2	9.2
84° but not exceeding 85° the cwt.	5	10.3	2	8.3
83° but not exceeding 84° the cwt.	5	8.3	2	7.3
82° but not exceeding 83° the cwt.	5	6.3	2	6.4
81° but not exceeding 82° the cwt.	5	4.5	2	5.6
80° but not exceeding 81° the cwt.	5	2.7	2	4.8
79° but not exceeding 80° the cwt.	5	0.9	2	4.0
78° but not exceeding 79° the cwt.	4	11.1	2	3.1
77° but not exceeding 78° the cwt.	4	9.3	2	2.3
76° but not exceeding 77° the cwt.	4	7.5	2	1.5
Sugar of a polarisation not exceeding 76°. the cwt.	4	6	2	0 ⅔
Molasses (except when delivered to a licensed distiller for use in the manufacture of spirits or yeast, or to a person for use in the manu-facture of yeast in premises used solely for that purpose):—
if containing—
70 per cent, or more of sweetening matter. the cwt.	7	5	3	8 ½
less than 70 per cent, and more than 50 per cent, of sweetening matter the cwt.	5	4	2	8
not more than 50 per cent, of sweetening matter. the cwt.	2	7	1	3 ½
Glucose—
Solid the cwt.	7	5	3	8 ½
Liquid the cwt.	5	4	2	8
Saccharin (including substances of a like nature or use) the oz.	7	6	1	10 ½

PART II Rates of Customs Duty on Certificated Colonial Sugar

Article	Rate of Duty
	s.	d.
Sugar of a polarisation exceeding 99° the cwt.	2	4.7
Sugar of a polarisation exceeding—
98° but not exceeding 99°. the cwt.	1	6.3
97° but not exceeding 98° the cwt.	1	5.8
96° but not exceeding 97° the cwt.	1	5.3
95° but not exceeding 96° the cwt.	1	4.8
94° but not exceeding 95° the cwt.	1	4.4
93° but not exceeding 94° the cwt.	1	3.9
92° but not exceeding 93° the cwt.	1	3.5
91° but not exceeding 92° the cwt.	1	3.0
90° but not exceeding 91° the cwt.	1	2.6
89° but not exceeding 90° the cwt.	1	2.1
88° but not exceeding 89° the cwt.	1	1.6
87° but not exceeding 88° the cwt.	1	1.3
86° but not exceeding 87° the cwt.	1	0.8
85° but not exceeding 86° the cwt.	1	0.5
84° but not exceeding 85° the cwt.	1	0.2
83° but not exceeding 84° the cwt.		11.8
82° but not exceeding 83° the cwt.		11.5
81° but not exceeding 82° the cwt.		11.2
80° but not exceeding 81° the cwt.		10.9
79° but not exceeding 80° the cwt.		10.5
78° but not exceeding 79° the cwt.		10.2
77° but not exceeding 78° the cwt.		9.9
76° but not exceeding 77° the cwt.		9.6
Sugar of a polarisation not exceeding 76° the cwt.		9.6

PART III Rates of Excise Duty

1. Sugar

Article	Rate of Duty
	s.	d.
Sugar of a polarisation exceeding 99° the cwt.	4	7
98° but not exceeding 99° the cwt.	3	7.1
97° but not exceeding 98° the cwt.	3	6.0
96° but not exceeding 97° the cwt.	3	4.9
95° but not exceeding 96° the cwt.	3	3.8
94° but not exceeding 95° the cwt.	3	2.7
93° but not exceeding 94° the cwt.	3	1.6
92° but not exceeding 93° the cwt.	3	0.6
91° but not exceeding 92° the cwt.	2	11.5
90° but not exceeding 91° the cwt.	2	10.4
89° but not exceeding 90° the cwt.	2	9.3
88° but not exceeding 89° the cwt.	2	8.2
87° but not exceeding 88° the cwt.	2	7.3
86° but not exceeding 87° the cwt.	2	6.3
85° but not exceeding 86° the cwt.	2	5.5
84° but not exceeding 85° the cwt.	2	4.7
83° but not exceeding 84° the cwt.	2	3.9
82° but not exceeding 83° the cwt.	2	3.1
81° but not exceeding 82° the cwt.	2	2.3
80° but not exceeding 81° the cwt.	2	1.6
79° but not exceeding 80° the cwt.	2	0.9
78° but not exceeding 79° the cwt.	2	0.1
77° but not exceeding 78° the cwt.	1	11.4
76° but not exceeding 77° the cwt.	1	10.6
Sugar of a polarisation not exceeding 76°. the cwt.	1	10.2

2. Molasses, etc.

Article	Rate of Duty
	s.	d.
Molasses, if containing—
70 per cent. or more of sweetening matter the cwt.	2	11
less than 70 per cent. and more than 50 per cent. of sweetening matter the cwt	2	1 ½
not more than 50 per cent. of sweetening matter the cwt	1	0 ½
Glucose—
Solid. the cwt	2	11
Liquid. the cwt	2	1 ½
Saccharin (including substances of a like nature or use) the oz.	5	2 ½

PART IV Rates of Drawback

TABLE 1

SCALE APPLICABLE IN THE CASE OF SUGAR PRODUCED IN THE UNITED KINGDOM FROM MATERIAL ON WHICH DUTY HAS BEEN PAID

Nature of Sugar	Rate of Duty Paid				Rate or Amount of Drawback
		s.	d.		s.	d.
Sugar of a polarisation exceeding 98° produced from material on which the full duties of customs have been paid.		11	8	per cwt.	11	8	per cwt
	Less than	11	8	per cwt	9	4	per cwt
Sugar of a polarisation exceeding 99° produced from material on which customs duty at the general preferential rates has been paid.		5	10	per cwt	5	10	per cwt
	Less than	5	10	per cwt	5	0 ⅔	per cwt
Sugar of a polarisation exceeding 99° produced from material on which customs duty at the cer-tificated colonial rates has been paid.		2	4.7	per cwt	2	4.7	per cwt
	Less than	2	4.7	per cwt	1	7.4	per cwt
Sugar of a polarisation exceeding 99° produced from material on which excise duty has been paid.		4	7	per cwt	4	7	per cwt
	Less than	4	7	per cwt	3	9 ⅔	per cwt
Sugar of a polarisation not exceeding 98° produced from material on which the full duties of customs have been paid and sugar of a polarisation not exceeding 99° pro-duced from material on which customs duty at the general preferential rates or the certificated colonial rates, or excise duty, has been paid.	Any rate of duty				A drawback equal to the duty chargeable on sugar of the like polarisation

TABLE 2

SCALE APPLICABLE IN THE CASE OF MOLASSES PRODUCED IN THE UNITED KINGDOM FROM MATERIAL ON WHICH DUTY HAS BEEN PAID

Nature of Molasses	Amount of Drawback per cwt.
	Produced from material on which full customs duty has been paid		Produced from material on which customs duty at the general preferential rates has been paid		Produced from material on which customs duty at the certificated colonial rates has been paid		Produced from material on which excise duty has been paid
	s.	d.	s.	d.	s.	d.	s.	d.
Containing more than 80 per cent. of sweetening matter	7	0	3	9 ½	1	2 ½	2	10
Containing more than 70 per cent. but not more than 80 per cent. of sweetening matter	6	2	3	4	1	0 ½	2	6
Containing more than 60 per cent. but not more than 70 per cent. of sweetening matter	4	6	2	5		9	1	10
Containing more than 50 per cent. but not more than 60 per cent. of sweetening matter	3	4 ½	1	9 ½		7	1	4 ½
Containing not more than 50 per cent. of sweetening matter and weighing not less than fourteen pounds to the gallon	2	3	1	2 ½		4 ½		11

In this Part of this Schedule—

(a) the expression " the general preferential rates " means the full rates of duty reduced by the amounts of the general preferential reductions specified in Part I of this Schedule;

(b) the expression " the certificated colonial rates " means the rates of duty specified in Part II of this Schedule.

Section 7.

FIFTH SCHEDULE Matches (Rates of Duty)

PART I Rates of Customs Duties

	£	s.	d.
For every 1,000 containers in which there are not more than 10 matches	0	19	11
For every 1,000 containers in which there are more than 10 matches, but not more than 20 matches	1	19	10
For every 1,000 containers in which there are more than 20 matches, but not more than 30 matches	2	19	9
For every 144 containers in which there are more than 30 matches, but not more than 50 matches.	0	14	5
For every 144 containers in which there are more than 50 matches—
For the first 50 matches	0	14	5
For every additional 5 matches or part of 5 matches in excess of 50 matches.	0	1	5 ½
And so in proportion for any less number of containers.

PART II Rates of Excise Duties

	£	s.	d.
For every 1,000 containers in which there are not more than 10 matches	0	19	2
For every 1,000 containers in which there are more than 10 matches, but not more than 20 matches	1	18	4
For every 1,000 containers in which there are more than 20 matches, but not more than 30 matches	2	17	6
For every 144 containers in which there are more than 30 matches, but not more than 50 matches	0	13	9
For every 144 containers in which there are more than 50 matches—
For the first 50 matches	0	13	9
For every additional 5 matches or part of 5 matches in excess of 50 matches	0	1	4 ½
And so in proportion for any less number of containers.

Section 21.

SIXTH SCHEDULE Allowances in respect of Machinery or Plant

PART I Calculation of Annual Allowances

The normal method

1 (1) Subject to the provisions of this Schedule, the annual allowance in respect of any machinery or plant for any year of assessment shall, except in the cases in which an election under paragraph 2 or paragraph 5 of this Part of this Schedule has effect.—

(a) be computed by reference to the amount by which the capital expenditure of the person to whom the allowance is to be made in providing the machinery or plant exceeds the total amount of any initial allowance, annual allowances, relevant exceptional depreciation allowances and scientific research allowances made to him in respect of that machinery or plant for previous years of assessment; and

(b) be five-fourths of the percentage of that amount specified in sub-paragraph (2) of this paragraph.

(2) The said percentage is such percentage as may be determined by the Commissioners of Inland Revenue to be appropriate to be applied for the purposes of this paragraph in relation to machinery or plant of the class in question for the year of assessment in question:

Provided that it shall not be necessary for the said Commissioners to redetermine every such percentage yearly, and any determination of a percentage under this sub-paragraph for any year of assessment shall apply also to subsequent years except so far as it is superseded by any subsequent determination.

(3) In determining the said percentage in relation to machinery or plant of any class, the Commissioners of Inland Revenue shall have regard to the anticipated normal working life of machinery or plant of that class, and shall select the percentage which in their opinion may fairly be taken as that which, if applied year by year throughout that life as a writing down percentage applicable, in the first year to the cost of such machinery or plant, in the second year to that cost as written down in the first year, in the third year to that cost as written down in the first and second years, and so on, would, at the end of that life, have caused that cost to be written down to one-tenth thereof.

(4) If, in the case of machinery or plant of any class—

(a) annual allowances for the year 1948-49 were commonly arrived at by applying five-fourths of some percentage—

(i) in the case of the first year, to the cost of the machinery or plant; and

(ii) in the case of subsequent years, to a sum less than that cost; and

(b) a particular percentage was commonly in use for so arriving at those allowances,

that percentage shall, unless the Commissioners of Inland Revenue determine that it is no longer an appropriate percentage, be deemed to be a percentage determined by them in relation to machinery or . plant of that class under sub-paragraph (2) of this paragraph for the year 1949-50, and the said sub-paragraph (2), including the proviso thereto, shall have effect accordingly; and if it is shown to the satisfaction of the said Commissioners that that percentage, if applied as a writing down percentage in the manner specified in sub-paragraph (3) of this paragraph, would, at the end of the anticipated normal working life of the machinery or plant of that class (estimated as if during the year 1948-49), cause the cost to be written down to a fraction thereof which is smaller than one-tenth, the said sub-paragraph (3) shall have effect in relation to machinery or plant of that class as if a reference to that smaller fraction were substituted therein for a reference to one-tenth.

In this sub-paragraph, and in the subsequent provisions of this Schedule, the expression " the first year " means the year of the acquisition of the machinery or plant or other the first year for which an annual allowance could be made to the person in question in respect of the machinery or plant.

(5) If, in the case of any machinery or plant not falling within any class with respect to which a determination of the Commissioners of Inland Revenue has been or is deemed to have been made under sub-paragraph (2) of this paragraph for the year of assessment in question—

(a) a percentage was in use for determining the annual allowance in respect thereof for the year 1948-49; and

(b) that percentage is one which, multiplied by five-fourths, was intended to be applied to an amount which, except in the case of the first year, is less than the cost of providing the machinery or plant,

that percentage, or, if the Commissioners of Inland Revenue determine, as respects any year of assessment, that that percentage is no longer an appropriate percentage, such other percentage as the said Commissioners may determine, shall be deemed, in relation to that machinery or plant, to be a percentage determined by the Commissioners of Inland Revenue under the said sub-paragraph (2) for the year 1949-50 or the year as respects which the determination is made, as the case may be, and the said sub-paragraph (2), including the proviso thereto, shall, in relation to that machinery or plant, have effect accordingly.

(6) In this paragraph, the expression " the anticipated normal working life " means, in relation to machinery or plant of any class, the period which might be expected, when machinery or plant of that class is first put into use, to be going to elapse before it is finally put out of use as being unfit for further use, it being assumed that it is going to be used in the normal manner and to the normal extent and is going to be so used throughout that period.

(7) The reference to annual allowances in paragraph (a) of sub-paragraph (1) of this paragraph shall not include a reference to any deduction allowed for the year 1945-46 or any previous year of assessment under section eighteen of the Finance Act, 1932, or under that section as amended by section twenty-two of the Finance Act, 1938.

Alternative method

2 (1) Subject to the provisions of this Schedule, the annual allowance in respect of any machinery or plant for any year of assessment—

(a) may, if the person to whom the allowance is to be made so elects when he makes his claim for the allowance, be computed by reference to the amount of his capital expenditure in providing the machinery or plant; and

(b) shall in that event be five-fourths of the percentage of that amount specified in sub-paragraph (2) of this paragraph.

(2) Subject to the provisions of sub-paragraph (3) of this paragraph, the said percentage is such percentage as may be determined by the Commissioners of Inland Revenue in relation to machinery or plant of the class in question for the year of assessment in question, being a percentage which is in their opinion equal to nine-tenths of the fraction of which the numerator is one and the denominator is the number of years in the anticipated normal working life of machinery or plant of that class:

Provided that it shall not be necessary for the said Commissioners to redetermine every such percentage yearly, and every such determination of a percentage under this sub-paragraph for any year of assessment shall apply also to subsequent years except so far as it is superseded by any subsequent determination.

(3) If, in the case of machinery or plant of any class—

(a) annual allowances for the year 1948-49 were commonly arrived at by applying five-fourths of some percentage to the cost of the machinery or plant; and

(b) a particular percentage was commonly in use for so arriving at those allowances,

that percentage shall, unless the Commissioners of Inland Revenue determine that it is no longer an appropriate percentage, be deemed to be a percentage determined by them in relation to machinery or plant of that class under sub-paragraph (2) of this paragraph for the year 1949-50, and the said sub-paragraph (2), including the proviso thereto, shall have effect accordingly; and if it is shown to the satisfaction of the said Commissioners that that percentage bears to the fraction specified in the said sub-paragraph (2) (computed by reference to an anticipated normal working life estimated as if during the year 1948-49) a higher proportion than nine-tenths, the said sub-paragraph (2) shall have effect in relation to machinery or plant of that class as if for the reference therein to nine-tenths there were substituted a reference to the said higher proportion.

(4) Machinery or plant may be treated for the purposes of this paragraph as being of a different class from other machinery or plant where the one is new when it is acquired and the other is not new when it is acquired, or, in the case of machinery or plant which is not new when it is acquired, where different periods have elapsed between the date when the machinery or plant was made or first put into use and the date of the acquisition thereof.

(5) In this paragraph, the expression " the anticipated normal working life " has the meaning assigned to it by sub-paragraph (6) of paragraph 1 of this Part of this Schedule, except that, in relation to a class consisting of machinery or plant which is not new when it is acquired, the reference in the said sub-paragraph (6) to the first putting into use of the machinery or plant shall be construed as a reference to the first putting into use thereof after the acquisition thereof.

3 An election under paragraph 2 of this Part of this Schedule shall not be effective for any year of assessment in relation to any machinery or plant unless the Commissioners of Inland Revenue are satisfied that the person making the election is keeping, and will keep and make available for inspection, all such records as are necessary to secure that the Commissioners, surveyors and other officers concerned can ensure that the total annual allowances made to him for all years of assessment in respect of that machinery or plant do not exceed the limit imposed by paragraph (b) of Rule 6 of the Rules applicable to Cases I and II of Schedule D, due regard being had to any initial allowance, relevant exceptional depreciation allowances and scientific research allowances made to him in respect thereof, and to any deductions allowed to him in respect thereof for the year 1945-46 or any previous year of assessment under section eighteen of the Finance Act, 1932, or under that section as amended by section twenty-two of the Finance Act, 1938.

4 (1) Where an election under paragraph 2 of this Part of this Schedule has effect with respect to any machinery or plant, and the annual allowance in respect of the same machinery or plant made to the same person for any previous year of assessment has been calculated in accordance with paragraph 1 of this Part of this Schedule, the annual allowance for that machinery or plant for the year of assessment with respect to which the election has effect shall be computed in accordance with the following provisions, that is to say—

(a) instead of being computed by reference to the amount of the person's expenditure in providing the machinery or plant, it shall be computed by reference to the amount by which that amount exceeds any initial allowance, annual allowances, relevant exceptional depreciation allowances and scientific research allowances made to that person in respect of that machinery or plant for the years of assessment up to and including the said previous year or, if the annual allowance was calculated in accordance with the said paragraph 1 in the case of more than one previous year, up to and including the last of those previous years; and

(b) it shall be computed as if for the percentage mentioned in sub-paragraph (2) of the said paragraph 2 there were substituted such other percentage as the Commissioners of Inland Revenue may determine.

(2) The expression " annual allowances", in paragraph (a) of sub-paragraph (1) of this paragraph, does not include any deduction allowed for the year 1945-46 or any previous year of assessment under section eighteen of the Finance Act, 1932, or under that section as amended by section twenty-two of the Finance Act, 1938.

(3) The references in sub-paragraph (1) of this paragraph to allowances calculated in accordance with paragraph 1 of this Part of this Schedule shall be deemed to include references to allowances for the year 1948-49 or any previous year of assessment calculated by the application of, or of five-fourths of, a percentage intended for application, or for application when multiplied by five-fourths, to a sum which, except in the case of the first year, is less than the cost of the machinery or plant.

(4) Any reference in this paragraph to paragraph 1 of this Part of this Schedule shall be deemed to include a reference to that paragraph as modified by the subsequent paragraphs of this Schedule.

Special method for machinery or plant used in connection with mines, etc.

5 (1) Subject to the provisions of this Schedule, the annual allowance for any year of assessment in respect of any machinery or plant used for the purposes of a trade which consists of or includes the working of a mine, oil well or other source of mineral deposits of a wasting nature, being machinery or plant used in connection with the working of the source, shall, if the person to whom the allowance is to be made so elects when he makes his claim for the allowance.—

(a) be computed by reference to the amount specified in paragraph (a) of sub-paragraph (1) of paragraph 1 or paragraph (a) of sub-paragraph (1) of paragraph 2 of this Part of this Schedule; but

(b) be the percentage of that amount specified in sub-paragraph (2) of this paragraph.

(2) The said percentage is such percentage as the Commissioners of Inland Revenue may determine having regard to the date when the source is likely to cease to be worked and the probable value of the machinery or plant at that date to the person carrying on the trade.

(3) The references in sub-paragraphs (1) and (4) of paragraph 4 of this Part of this Schedule to paragraph 1 of this Part of this Schedule shall be deemed to include references to this paragraph where the election thereunder is that the allowance shall be computed by reference to the amount specified in paragraph (a) of sub-paragraph (1) of the said paragraph 1; and the references in sub-paragraph (1) of the said paragraph 4 to paragraph 2 of this Part of this Schedule shall be deemed to include references to this paragraph where the election thereunder is that the allowance shall be computed by reference to the amount specified in paragraph (a) of sub-paragraph (1) of the said paragraph 2.

Adjustments for special circumstances

6 If the Commissioners of Inland Revenue are satisfied that the manner in which or the extent to which any machinery or plant is used in any year of assessment is such that the wear and tear thereof is greater or less than that which might be expected to be caused by the use thereof in the normal manner and to the normal extent, they may direct that the annual allowance in respect of that machinery or plant for that year of assessment shall be ascertained as if, for the percentage specified in sub-paragraph (2) of paragraph 1, sub-paragraph (2) of paragraph 2 or sub-paragraph (2) of paragraph 5 of this Part of this Schedule, as the case may be, there were substituted such other percentage as they may determine.

7 (1) If an annual allowance falls to be made to any person in respect of any machinery or plant in charging the profits or gains of any trade, profession, employment, vocation or office which is carried on or held by him for part only of the year of assessment, the said allowance, as computed in accordance with the preceding provisions of this Schedule, shall be proportionately reduced.

(2) If an annual allowance falls to be made to the lessor of any machinery or plant under section twenty of the Income Tax Act, 1945, and the letting continues for part only of the year of assessment, the said allowance, as computed in accordance with the preceding provisions of this Schedule, shall be proportionately reduced.

Applications to Commissioners of Inland Revenue or Board of Referees

8 (1) If, within such time and in such manner as may be prescribed by regulations made by the Commissioners of Inland Revenue under this paragraph, an application is made to the said Commissioners by or on behalf of—

(a) a considerable number of the persons engaged in or holding any class of trade, profession, employment, vocation or office; or

(b) a considerable number of the persons who use machinery or plant of any class for the purposes of any trade, profession, employment, vocation or office carried on or held by them respectively; or

(c) any particular person concerned,

for the increase, as respects any year of assessment, of any percentage determined or deemed to be determined by the said Commissioners for any of the purposes of this Part of this Schedule in connection with any class of machinery or plant used in the class of trade, profession, employment, vocation or office in question, in connection with the class of machinery or plant in question, or in connection with any machinery or plant, or class of machinery or plant, used by the applicant, as the case may be, the said Commissioners shall consider the application and may, if they think fit, determine or redetermine the percentage in question.

(2) Where an application has been made under sub-paragraph (1) of this paragraph, and the Commissioners do not determine or redetermine the percentage in question or the applicant or applicants are dissatisfied with the Commissioners' determination or redetermination thereof, the Commissioners, if required so to do by the applicant or applicants, shall refer the application to the Board of Referees and the Board shall consider the application:

Provided that where the application is-made under paragraph (c) of the said sub-paragraph (1), the Board may, if they think fit, require the applicant to satisfy them, as respects the machinery or plant to which the application relates, that in all the circumstances it is reasonable that an application should be made otherwise than under paragraph (a) or paragraph (b) of that sub-paragraph and, in that event, the Board shall consider the application only in so far as it relates to machinery or plant as respects which they are so satisfied.

(3) On the consideration of an application under sub-paragraph (1) of this paragraph, either as respects all or as respects some only of the machinery or plant to which it relates, the Board of Referees may, if they think fit, direct that, as respects the year of assessment to which the application relates, such percentage as the Board may determine to be appropriate shall be substituted, either wholly or in such cases or classes of cases as the Board may direct, for the percentage determined or deemed to be determined by the Commissioners, and the liability of all persons concerned to income tax shall be determined accordingly and all such amendments of assessments, additional assessments and repayments of tax shall be made as may be necessary to give effect to the direction.

The preceding paragraphs of this Schedule shall, in relation to the exercise by the Board of their powers under this sub-paragraph, have effect as if the references to the Commissioners of Inland Revenue included references to the Board.

(4) The Commissioners of Inland Revenue may make regulations with respect to the time within which and the manner 'in which applications under this paragraph are to be made and the procedure to be followed in dealing with any such

The power conferred by this sub-paragraph to make regulations shall be exercisable by statutory instrument, and any statutory instrument made in the exercise of that power shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(5) No appeal shall he to the General or Special Commissioners in respect of any matter which may be made or might have been made the subject of an application under this paragraph.

Amendments of existing enactments

9 (1) In paragraph (1) of Rule 6 of the Rules applicable to Cases I and II of Schedule D, for the words " such deduction may be allowed as the Commissioners having jurisdiction in the matter may consider just and reasonable as representing the diminished value by reason of wear and tear " there shall be substituted the words " a deduction shall be allowed on account of the wear and tear ".

(2) In paragraph (2) of the said Rule 6, after the words " for the purpose of this rule " there shall be inserted the words " and that person shall be deemed for that purpose to have incurred, at the time of the letting, capital expenditure equal to so much of the capital expenditure on the provision of the machinery or plant as may appear to the Commissioners having jurisdiction in the matter to be just and reasonable ".

(3) In paragraph (4) of the said Rule 6, for the words " such allowance in respect thereof as they think just and reasonable " there shall be substituted the words " the proper allowance in respect thereof ".

(4) Paragraph (7) of the said Rule 6, down to the words " determine the deduction to be allowed ", is hereby repealed and, in the remainder of that paragraph, the references to that Rule shall be deemed to include references to paragraph 8 of this Part of this Schedule.

(5) In subsection (1) of section sixteen of the Income Tax Act, 1945, for the words " in respect of the diminished value of machinery or plant by reason of wear and tear " there shall be substituted the words " on account of the wear and tear of machinery or plant ".

(6) Subsection (2) of the said section sixteen is hereby repealed except so far as it provides that additional deductions shall no longer be made under section eighteen of the Finance Act, 1932.

(7) In paragraph (a) of subsection (3) of the said section sixteen, the words " a proportion of the machinery or plant equal to " are hereby repealed.

(8) In subsection (4) of the said section sixteen, for the words " under the said Rule 6 ", where those words first occur, there shall be substituted the words " having regard to paragraph (b) of the said Rule 6 ".

(9) In proviso (i) to subsection (1) of section seventeen of the Income Tax Act, 1945, the reference to the proviso to subsection (2) of section sixteen of that 'Act shall be construed as a reference to paragraph 5 of this Part of this Schedule.

(10) In sub-paragraph (ii) of paragraph (b) of subsection (1) of section eighteen of the Income Tax Act, 1945, after the words " the said expenditure " there shall be inserted the words " and the amount of any deduction to be allowed under the said Rule 6 " , and sub-paragraph (iii) of that paragraph is hereby repealed.

(11) In subsection (1) of section twenty of the Income Tax Act, 1945, for the words " equal to five-fourths of the amount considered by the Commissioners having jurisdiction in the matter to be just and reasonable as representing the diminished value by reason of wear and tear, during so much of the period of the letting as falls within the year, of" there shall be substituted the words " on account of the wear and tear of ".

(12) Subsection (1) of section sixty-six of the Income Tax Act, 1945, shall not apply to the interpretation of the expression " expenditure " where it occurs in the preceding paragraphs of this Schedule.

(13) Nothing in paragraph (c) of subsection (1) of section twenty-nine of the Finance Act, 1944 (which provides that in certain circumstances the actual cost, cost or net cost of an asset shall be treated for the purposes of, amongst other things, annual allowances, as reduced by the amount of certain scientific research allowances) shall be construed as applying to the references in this Part of this Schedule to the expenditure of a person in providing machinery or plant.

10 Save as aforesaid, all the enactments relating to the computation of annual allowances shall, with any necessary adaptations, continue to have effect in relation to annual allowances to which this Part of this Schedule applies.

PART II Miscellaneous Amendments as to Initial, Annual and Balancing Allowances, and Balancing Charges

Initial allowances

1 An initial allowance may be made to a person in respect of any machinery or plant in charging the profits or gains of a trade, profession, employment, vocation or office carried on or held by him notwithstanding that it appears that, during the period during which the machinery or plant will be used for the purposes of the trade, profession, employment, vocation or office, it will also be used for other purposes, but the allowance in any such case shall be so much only of the allowance that would be made if the machinery or plant were to be used only for the purposes of the trade, profession, employment, vocation or office as may be just and reasonable having regard to all the relevant circumstances of the case and, in particular, to the extent to which it appears that the machinery or plant is likely to be used for the said other purposes during that period.

2 Subject to the provisions of this paragraph, no initial allowance shall be made to a person in respect of any machinery or plant in charging the profits or gains of a trade, profession, employment, vocation or office, if it appears that, during the period during which the machinery or plant will be used by him for the purposes of the trade, profession, employment, vocation or office, sums which are in respect of, or take account of, the wear and tear to that machinery or plant occasioned by its use for those purposes and do not fall to be taken into account as his income or in computing the profits or gains of any trade, profession, employment, vocation or office carried on or held by him are, or are to be, payable to him directly or indirectly by the Crown, or by any government or public or local authority, whether in the United Kingdom or elsewhere, or by any person other than the person carrying on or holding the trade, profession, employment, vocation or office:

Provided that where the sums referred to in this paragraph are in respect of, or take account of, part only of the wear and tear therein referred to—

(a) the preceding provisions of this paragraph shall not apply; but

(b) the amount of the allowance shall be reduced to such extent as may be just and reasonable having regard to all the relevant circumstances of the case.

Annual allowances

3 An annual allowance may be made in respect of any machinery or plant in charging the profits or gains of a trade, profession, employment, vocation or office for any year of assessment notwithstanding that the machinery or plant is also used in that year for purposes other than those of the trade, profession, employment, vocation or office, but where, in the basis period for any year of assessment, machinery or plant is used for purposes other than those of the trade, profession, employment, vocation or office, the annual allowance to be made in respect thereof shall be so much only of the allowance that otherwise would be made as may be just and reasonable having regard to all the relevant circumstances of the case and, in particular, to the extent of the use for the said other purposes during the said basis period.

4 Subject to the provisions of this paragraph, no annual allowance shall be made to a person in respect of any machinery or plant in charging the profits or gains of a trade, profession, employment, vocation or office for any year of assessment if any sums which are in respect of, or take account of, the wear and tear to that machinery or plant occasioned by its use during the basis period for that year of assessment for the purposes of the trade, profession, employment, vocation or office and do not fall to be taken into account as his income or in computing the profits or gains of any trade, profession, employment, vocation or office carried on or held by him are, or are to be, payable to him directly or indirectly by the Crown, or by any government or public or local authority, whether in the United Kingdom or elsewhere, or by any person other than the person carrying on or holding the trade, profession, employment, vocation or office:

Provided that where the sums referred to in this paragraph are in respect of, or take account of, part only of the wear and tear therein referred to—

(a) the preceding provisions of this paragraph shall not apply; but

(b) the amount of the allowance shall be reduced to such extent as may be just and reasonable having regard to all the relevant circumstances of the case.

5 Where an initial allowance has been made to a person in respect of any machinery or plant, but the amount thereof has been reduced under paragraph 1 or the proviso to paragraph 2 of this Part of this Schedule, any annual allowance falling to be made in respect of that machinery or plant to that person shall be calculated as if the reduction had not been made.

6 (1) In determining whether any, and if so what, annual allowance falls to be made to a person for any year of assessment in respect of any machinery or plant which has been used by him during any previous year of assessment, there shall be deemed to have been made to him for every previous year of assessment (including years before the year 1949-50, years during which the machinery or plant was not used for the purposes of the trade, profession, employment, vocation or office, and years during which the trade, profession, employment, vocation or office was not carried on or held by him) such annual allowance or greater annual allowance, if any, as would have fallen to be made to him if all the conditions specified in sub-paragraph (2) of this paragraph had been fulfilled in relation to every such previous year.

(2) The said conditions are as follows, that is to say—

(a) that the trade, profession, employment, vocation or office had been carried on or held by the person in question ever since the date on which he acquired the machinery or plant and had been so carried on or held by him in such circumstances that the profits or gains or emoluments thereof were liable to assessment to income tax;

(b) that the machinery or plant had been used by him for the purposes of the trade, profession, employment, vocation or office ever since that date;

(c) that a proper claim had been duly made by him for an annual allowance in respect of the machinery or plant for every relevant year of assessment; and

(d) that no question arose in connection with any year of assessment as to the machinery or plant having been wholly or partly used by him otherwise than for the purposes of the trade, profession, employment, vocation or office, or as to there being payable to him, directly or indirectly, any sums in respect of, or taking account of, the wear and tear of the machinery or plant.

(3) Notwithstanding anything in sub-paragraph (1) of this paragraph, the years for which an annual allowance is to be deemed thereunder to have been made shall not include years during which machinery or plant was used only for the purposes of activities carried on by the person in question before the commencement by him of the working of a mine, oil well, or other source of mineral deposits of a wasting nature, being activities consisting of—

(a) searching for or discovering and testing deposits, or winning access thereto; or

(b) the construction of any works which are likely to be of little .or no value when the source is no longer worked, or, where the source is worked under a foreign concession, which are likely to become valueless when the concession comes to an end to the person working the source immediately before the concession comes to an end.

Balancing allowances and charges

7 Where any machinery or plant which has been used by a person for the purposes of a trade, profession, employment, vocation or office carried on or held by him, has also been used by him for other purposes, then, in determining whether a balancing allowance or balancing charge falls to be made to or on him in charging the profits or gains of the trade, profession, employment, vocation or office, and in determining the amount of the allowance or, as the case may be, the amount on which the charge is to be made, regard shall be had to all the relevant circumstances of the case and, in particular, to the extent of the use for the said other purposes, and there shall be made to or on him an allowance of such an amount, or, as the case may be, a charge on such an amount, as may be just and reasonable.

8 Subject to the provisions of this paragraph, no balancing allowance or balancing charge shall be made to or on any person in respect of any machinery or plant in charging the profits or gains of a trade, profession, employment, vocation or office if any sums which are in respect of, or take account of, the wear and tear to that machinery or plant occasioned by its use for the purposes of the trade, profession, employment, vocation or office, and do not fall to be taken into account as his income or in computing the profits or gains of any trade, profession, employment, vocation or office carried on or held by him, were paid, or are or are to be payable, to him directly or indirectly by the Crown, or by any government or public or local authority, whether in the United Kingdom or elsewhere, or by any person other than the person carrying on or holding the trade, profession, employment, vocation or office:

Provided that where the sums referred to in this paragraph are in respect of, or take account of, part only of the wear and tear therein referred to—

(a) the preceding provisions of this paragraph shall not apply; but

(b) in determining whether it is an allowance or a charge which is to be made and the amount of the allowance or, as the case may be, the amount on which the charge is to be made, regard shall be had to all the relevant circumstances of the case and there shall be made an allowance of such an amount or, as the case may be, a charge on such an amount, as may be just and reasonable.

9 (1) Subject to the provisions of this paragraph, the provisions of paragraph 6 of this Part of this Schedule shall apply for the purpose of determining whether any, and if so what, balancing allowance or balancing charge falls to be made to or on a person as they apply for the purpose of determining whether any, and if so what, annual allowance falls to be made to a person.

(2) The only years for which an annual allowance is to be deemed for the purposes of this paragraph to have been made shall be years during which the machinery or plant was not used by the person in question for the purposes of the trade, profession, employment, vocation or office, and years during which the trade, profession, employment, vocation or office was not carried on or held by him, or was not carried on or held by him in such circumstances that the profits or gains or emoluments thereof were liable to assessment to income tax.

(3) Nothing in this paragraph shall affect the provisions of subsection (4) of section seventeen, or of the proviso to section nineteen, or of subsection (2) of section twenty-three, of the Income Tax Act, 1945, but where an allowance is deemed, by virtue of the proviso to the said section nineteen, or by virtue of subsection (2) of the said section twenty-three, to have been made for any year of assessment, an allowance shall not also be deemed to have been made for the same year by virtue of this paragraph.

PART III Special Provisions as to Annual Allowances for 1947-48 and 1948-49

1 Any annual allowance in respect of machinery or plant for the year 1947-48 or the year 1948-49 shall be computed, subject to the provisions of this Part of this Schedule, in accordance with the provisions of Parts I and II of this Schedule.

2 So much of the said Part I as requires any election to be made in claiming an annual allowance shall not apply to any allowance for the year 1947-48 or the year 1948-49 which has been claimed before the passing of this Act.

3 Where—

(a) an annual allowance for the year 1947-48 or the year 1948-49 falls to be made in accordance with paragraph 1 of Part I of this Schedule; and

(b) there was, for the year of assessment in question, a percentage commonly in use in relation to machinery or plant of the class in question, being a percentage which (multiplied by five-fourths) was intended to be applied to an amount which, except in the case of the first year, is less than the cost of providing the machinery or plant,

that percentage shall be deemed to be the percentage referred to in paragraph (b) of sub-paragraph (1) of the said paragraph 1.

4 Where—

(a) an annual allowance for the year 1947-48 or the year 1948-49 falls to be made in accordance with paragraph 2 of Part I of this Schedule; and

(b) there was, for the year of assessment in question, a percentage commonly in use in the case of machinery or plant of the class in question, being a percentage which (multiplied by five-fourths) was intended to be applied, in all years, to the cost of the machinery or plant,

that percentage shall be deemed to be the percentage referred to in paragraph (b) of sub-paragraph (1) of the said paragraph 2.

Machinery or plant may be treated for the purposes of this paragraph as being of a different class from other machinery or plant where the one is new when it is acquired and the other is not new when it is acquired or, in the case of machinery or plant which is not new when it is acquired, where different periods have elapsed between the date when the machinery or plant was made or first put into use and the date of the acquisition thereof.

5 The references to the years 1948-49 and 1949-50 in sub-paragraph (5) of paragraph 1 of Part I of this Schedule shall be construed, in relation to an allowance for the year 1947-48, as references to the years 1946-47 and 1947-48, and, in relation to an allowance for the year 1948-49, as references to the years 1947-48 and 1948-49.

6 The preceding provisions of this Part of this Schedule shall not apply to any allowance which was made in an assessment which became final and conclusive before the sixth day of April, nineteen hundred and forty-nine, but no relief shall be granted under section twenty-four of the Finance Act, 1923, or section thirty-five of the Finance (No. 2) Act, 1945, on the ground of any error or mistake made in connection with any such allowance so as to reduce the tax borne by the person to whom the relief is granted below the amount which would have fallen to be borne by him if the assessment in which the allowance was made had not become final and conclusive before that date.

Section 28.

SEVENTH SCHEDULE General Scale of Rates of Estate Duty

Principal value of estate				Rate per cent. of duty
	£		£
		Not exceeding	2,000	Nil
Exceeding	2,000	and not exceeding	3,000	1
Exceeding	3,000	and not exceeding	5,000	2
Exceeding	5,000	and not exceeding	7,500	3
Exceeding	7,500	and not exceeding	10,000	4
Exceeding	10,000	and not exceeding	12,500	6
Exceeding	12,500	and not exceeding	15,000	8
Exceeding	15,000	and not exceeding	17,500	10
Exceeding	17,500	and not exceeding	20,000	12
Exceeding	20,000	and not exceeding	25,000	15
Exceeding	25,000	and not exceeding	30,000	18
Exceeding	30,000	and not exceeding	35,000	21
Exceeding	35,000	and not exceeding	40,000	24
Exceeding	40,000	and not exceeding	45,000	28
Exceeding	45,000	and not exceeding	50,000	31
Exceeding	50,000	and not exceeding	60,000	35
Exceeding	60,000	and not exceeding	75,000	40
Exceeding	75,000	and not exceeding	100,000	45
Exceeding	100,000	and not exceeding	150,000	50
Exceeding	150,000	and not exceeding	200,000	55
Exceeding	200,000	and not exceeding	300,000	60
Exceeding	300,000	and not exceeding	500,000	65
Exceeding	500,000	and not exceeding	750,000	70
Exceeding	750,000	and not exceeding	1,000,000	75
Exceeding	1,000,000			80

Section 35.

EIGHTH SCHEDULE Stamp Duties Abolished

PART I Charges under Stamp Act, 1891, and Consequential Exemptions

1 All headings relating to Admissions.

2 The heading Affidavit and Statutory Declaration.

3 The heading Appraisement or Valuation.

4 The heading Apprenticeship, instrument of; (an instrument of apprenticeship shall be exempt from all stamp duties).

5 The heading Articles of Clerkship; (articles of clerkship to a solicitor shall be exempt from all stamp duties).

6 The headings Award, and Award or Decreet Arbitral.

7 The heading Bill of Lading.

8 The headings Bond given pursuant to the directions of any Act and Bond on obtaining letters of administration; (an instrument described in either of these headings shall be exempt from all stamp duties).

9 The heading Charter Party; (a charter party shall be exempt from all stamp duties).

10 The heading Commission of Lunacy.

11 The heading Conditional Surrender.

12 Both headings relating to Copies or Extracts.

13 The heading Copyhold and Customary Estates—instruments relating thereto.

14 The heading Deputation or Appointment of a gamekeeper.

15 Both headings relating to Exemplifications.

16 The heading Grant or Licence and the three following headings relating to Grants.

17 The headings Letter of Allotment and Letter of Renunciation, and Scrip Certificate, Scrip or other document; (an instrument described in either of these headings shall be exempt from duty under the heading Agreement or any Memorandum of an Agreement or under the heading Deed of any kind whatsoever not described in this Schedule and no other instrument shall be chargeable with duty under the heading Agreement or any Memorandum of an Agreement as being an agreement or memorandum of an agreement for the issue, allotment or sale of any stock or marketable security).

18 Paragraph (1) of the heading Letter or Power of Attorney; (an instrument described in this paragraph shall be exempt from duty under any other paragraph of this heading).

19 The heading Letters of Marque and Reprisal.

20 The headings relating to Licences.

21 The heading Memorial.

22 The heading Notarial Act

23 The heading Passport.

24 The beading Protest.

25 The heading Transfer, any request or authority to the purser or other officer of any mining company.

26 The heading Voting Paper.

27 The heading Warrant for Goods; (a warrant for goods shall be exempt from duty under the heading Agreement or any Memorandum of an Agreement).

PART II Charges under other Acts

1 The composition payable by the Bank of England under section twenty-one of the Stamp Act, 1815, in respect of its bank post bills.

2 The duties charged under section twenty-eight of the Lunacy (Scotland) Act, 1857, on licences granted under section twenty-seven of that Act.

3 The duties charged under section nine of the Charitable Trustees Incorporation Act, 1872, on certificates of incorporation under that Act and on applications therefor.

4 The duties charged under section fourteen of the Habitual Drunkards Act, 1879, on licences to keep a retreat under that Act and on renewals thereof.

5 The duties charged under section two hundred and sixteen of the Lunacy Act, 1890, on licences granted or renewed under that Act.

6 The duty charged under subsection (2) of section five of the Deeds of Arrangement Act, 1914, on deeds registered under that Act.

Section 40.

NINTH SCHEDULE Provisions which may be Applied to Compulsory Redemption of Land Tax

Enactment	Subject matter
The Land Tax Redemption Act, 1802:—
Section 126	Addition to rent in respect of tax redeemed by landlord.
Section 127	Deduction from rentcharge, etc., in respect of tax redeemed.
Sections 141 and 149	Addition to rent in case of Crown lands.
The Finance Act, 1896:—
Paragraph (b) of section 33.	Moneys applicable for redemption.
The Settled Land Act, 1925:—
Paragraph (ii) of subsection (1) of section 73.	Application of capital money for redemption;

Section 50.

TENTH SCHEDULE Provisions as to Arrangements for Special Reserve Funds in relation to Lloyd's and Other Underwriters

Adherence to, and withdrawal from, arrangements

1 (1) The arrangements must provide that an underwriting member who wishes to elect to take advantage of the arrangements shall do so by giving notice in writing to the surveyor and to such other persons as may be specified in the arrangements.

(2) Any such notice as aforesaid is referred to in the subsequent provisions of this Schedule as a notice of adherence, and, in the said provisions, the expression " the underwriter " means an underwriting member who has given such a notice.

2 (1) The arrangements must enable the underwriter, if he thinks fit so to do, by giving notice in writing to the surveyor and to such other persons as may be specified in the arrangements, to withdraw from the arrangements to the extent appearing from the subsequent provisions of this Schedule.

(2) Any such notice as aforesaid is referred to in the subsequent provisions of this Schedule as a notice of withdrawal.

3 Where the underwriter has given a notice of withdrawal, he shall not be entitled to give another notice of adherence.

Setting up and management of, and payments into and out of, special reserve funds

4 The arrangements must provide for the setting up, in relation to the underwriter, of a special reserve fund vested in trustees who have control over it and power to invest the capital thereof and to vary the investments :

Provided that where part of the business of the underwriter is carried on through an underwriting agent and part thereof is not so carried on, or where different parts of his business are carried on through different underwriting agents, the arrangements may provide for separate special reserve funds being constituted in relation to the different parts of his business.

5 The arrangements must provide for the income arising from the investments of the underwriter's special reserve fund or funds being held on trust for the underwriter, his personal representatives or assigns.

6 (1) The arrangements must be such as to secure that if, for an underwriting year corresponding to a year of assessment to which this paragraph applies, the underwriter makes a profit from his business, he has the right to make, into his special reserve fund or funds, payments, the gross amount of which is not in the aggregate greater than one thousand five hundred pounds or one-quarter of that profit, whichever is the less :

Provided that—

(a) no such payment shall be made after the expiration of six months from the date as at which the accounts of the business for that underwriting year are deemed by the Commissioners of Inland Revenue for the purposes of the arrangements to be closed, or such longer period as those Commissioners may allow ;

(b) where the underwriter carries on his business during part only of that year of assessment, the maximum gross amount of the said payments shall be reduced by the application thereto of the proportion which the part of that year of assessment for which he is entitled to profits from the business bears to a full year.

(2) Subject to the provisions of paragraph 12 of this Schedule (which relates to the effect of the cancellation by the Commissioners of Inland Revenue or the Board of Trade of their approval or certificate with respect to the arrangements) the years of assessment to which this paragraph applies are—

(a) where the notice of adherence is given before the end of the year nineteen hundred and forty-nine, the year 1949-50 and all subsequent years of assessment during the whole or any part of which the underwriter continues to carry on his business ;

(b) where the notice of adherence is given after the end of the year nineteen hundred and forty-nine, all years of assessment during the whole or any part of which the underwriter continues to carry on his business subsequent to the year of assessment during which the notice of adherence is given:

Provided that—

(i) in no case shall this paragraph apply to the year of assessment in which the underwriter commences to carry on his business, or to the year of assessment next following that year;

(ii) where the underwriter gives a notice of withdrawal, the last year of assessment to which this paragraph applies shall, subject to the provisions of the said paragraph 12, be the year of assessment corresponding to the underwriting year the accounts for which are deemed by the Commissioners of Inland Revenue for the purposes of the arrangements to be closed as at a date falling within the year of assessment preceding that in which the notice of withdrawal is given.

(3) In sub-paragraph (1) of this paragraph, the expression " profit " means a profit computed in the manner in which the profits or gains of the business of the underwriting year in question would fall to be computed under Case I of Schedule D if—

(a) income arising from the investments forming part of the premiums trust fund of the underwriter, his special reserve fund or funds and any other fund required or authorised by the rules of Lloyd's or the association in question, or required by the underwriting agent through whom the business or any part thereof is carried on, to be kept in connection with the business fell to be taken into account; and

(b) all shares of the profits of the business and all charges related to those profits or to the said income, being shares and charges payable to persons other than the underwriter and not otherwise taken into account, fell to be deducted.

7 (1) The arrangements must be such as to secure that, if it is certified that the underwriter has sustained a loss in his business for an underwriting year subsequent to that which corresponds to the first year of assessment to which paragraph 6 of this Schedule applies, there shall be made into his premiums trust fund, out of the capital of his special reserve fund or funds, payments the gross amount of which is equal in the aggregate to the certified amount of the loss:

Provided that if the capital of his special reserve fund or funds, reduced by so much thereof as represents sums paid into it or them as a consequence of a profit for a year later than the year of the loss, is less than the net amount of the payments required to be made by this sub-paragraph, the said payments shall be reduced so that the net amount thereof is equal to the capital of the said fund or funds as so reduced.

(2) In this paragraph, the expression " loss " means a loss computed in the manner in which the profits or gains of the business of the underwriting year in question would fall to be computed under sub-paragraph (3) of the last preceding paragraph:

Provided that where, under any arrangement between the underwriter and another person which provides for the sharing of losses, any amount is paid to the underwriter by that person as that person's share of a loss for that year, the loss, as computed for the purposes of this paragraph, shall be reduced by that amount.

(3) In this paragraph, the expression " certified " means certified by a certificate of the surveyor:

Provided that—

(a) no certificate shall be given by the surveyor until twenty-eight days have elapsed from the date on which he has given to the underwriter or his personal representatives notice in writing stating his intention to give a certificate and stating the amount which he proposes to specify therein as the amount of the loss;

(b) the underwriter or his personal representatives may, on giving notice in writing to the surveyor within the said twenty-eight days, appeal to the Special Commissioners ;

(c) where notice is so given by the underwriter or his personal representatives, the surveyor shall not without the consent of the underwriter or his personal representatives give any certificate until after the hearing of the appeal; and

(d) on the hearing of the appeal, the Special Commissioners may direct the surveyor not to give a certificate or to give it with such an amount specified therein as the amount of the loss as may be specified in the direction.

8 The arrangements must provide that, on the underwriter ceasing to carry on his business, the capital of his special reserve fund or funds, so far as not required for giving effect to the requirements of the last preceding paragraph, shall be paid over to the underwriter or his personal representatives or assigns.

Income tax consequences

9 (1) Where such a payment as is mentioned in sub-paragraph (1) of paragraph 6 of this Schedule is made into a special reserve fund of an underwriter by reason of the making by him of a profit for an underwriting year—

(a) the payment shall be deemed for all the purposes of the Income Tax Acts to be an annual payment chargeable to income tax by way of deduction and payable and paid in the year of assessment corresponding to that underwriting year; and

(b) the sum actually paid shall be deemed for the purposes of this Schedule and for all the purposes of the Income Tax Acts to be a net amount corresponding to a gross amount from which income tax has been duly deducted at the standard rate for that year of assessment.

(2) Where such a payment as is mentioned in sub-paragraph (1) of paragraph 7 of this Schedule is made out of a special reserve fund of an underwriter into a premiums trust fund of his by reason that he has sustained a loss for an underwriting year—

(a) the payment shall be deemed for all the purposes of the Income Tax Acts—

(i) to be an annual payment chargeable to income tax by way of deduction and paid out of profits or gains brought into charge to tax ; and

(ii) to have been payable and paid to the underwriter; and

(iii) to have been payable and paid to him on the last day of the year of assessment which immediately preceded the year of assessment corresponding to that underwriting year or, if he ceased to carry on his business before that day, on the last day on which he carried on his business ; and

(b) the sum actually paid shall be deemed for the purposes of this Schedule and for all the purposes of the Income Tax Acts to be a net amount corresponding to a gross amount from which income tax has been duly deducted at the standard rate for the year of assessment in which the payment is deemed as aforesaid to have been payable and paid.

(3) Where the underwriter ceases to carry on his business before his death and, under so much of the arrangements as gives effect to paragraph 8 of this Schedule, a sum is paid to him or his personal representatives or assigns—

(a) the payment shall be deemed for all the purposes of the Income Tax Acts—

(i) to be an annual payment chargeable to income tax by way of deduction and paid out of profits or gains brought into charge to tax ;

(ii) to have been payable and paid to the underwriter ; and

(iii) to have been payable and paid to him on the last day on which he carried on his business ; and

(b) the sum actually paid shall be deemed for the purposes of this Schedule and for all the purposes of the Income Tax Acts to be a net amount corresponding to a gross amount from which income tax has been duly deducted at the standard rate for the year of assessment in which the payment is deemed as aforesaid to have been payable and paid.

(4) Neither the arrangements, nor any disposition, trust, covenant, agreement or arrangement entered into for the purposes thereof, shall be treated as included in the expression " settlement " for the purposes of Part IV of the Finance Act, 1938, or section twenty-eight of the Finance Act, 1946, and nothing in section, thirty-four of the Finance Act, 1927, shall be construed as applying to the payments referred to in sub-paragraphs (2) and (3) of this paragraph.

Profits tax consequences

10 (1) Section thirty-one of the Finance Act, 1947 (which exempts individuals from the profits tax) shall not apply in relation to the business of the underwriter carried on in, or in any part of, an underwriting year which ends in any such year of assessment as is hereafter referred to in this sub-paragraph, and, accordingly, any accounting periods of that business which consist of or fall within any such underwriting year as aforesaid, (hereafter in this paragraph referred to as " chargeable accounting periods to which this paragraph applies ") shall be chargeable accounting periods.

The years of assessment hereinbefore referred to are those which respectively correspond to an underwriting year as to which the following conditions are fulfilled, that is to say—

(a) that the underwriter was carrying on his business therein ; and

(b) that either—

(i) by reason of making a profit therefor, he had a right to make a payment or payments into his special reserve fund or funds; or

(ii) he would have had such a right if he had made such a profit,

(2) In computing for profits tax purposes the profits of the business of the underwriter for a chargeable accounting period to which this paragraph applies, a deduction shall be made (as if for the remuneration of a person employed for the purposes of the business) of two thousand five hundred pounds or fifteen per cent. of the profits of the business computed apart from the deduction, whichever is the greater, so, however, that the deduction shall not exceed fifteen thousand pounds :

Provided that in relation to a chargeable accounting period of less than twelve months any reference in this sub-paragraph to two thousand five hundred pounds or fifteen thousand pounds shall be construed as a reference to a sum which bears the same proportion to two thousand five hundred pounds or fifteen thousand pounds, as the case may be, as the length of the period bears to twelve months.

(3) The reference to income from investments or other property in the opening words of sub-paragraph (1) of paragraph 7 of the Fourth Schedule to the Finance Act, 1937 (as amended by section thirty-two of the Finance Act, 1947) shall, in relation to the business of the underwriter for a chargeable accounting period to which this paragraph applies, be construed as a reference to the income arising from investments in his premiums trust fund, his special reserve fund or funds and any other fund required or authorised by the rules of Lloyd's or the association in question, or required by the underwriting agent through whom the business or any part thereof is carried on, to be kept in connection with the business, and paragraph (c) of that sub-paragraph shall not apply to any such income.

(4) Notwithstanding anything in paragraph (b) of sub-paragraph (3) of paragraph 2 of the said Fourth Schedule, the expression relevant accounting period" in sub-paragraph (2) of that paragraph shall, in relation to the business of the underwriter for any chargeable accounting period to which this paragraph applies, mean any chargeable accounting period to which this paragraph applies.

(5) Subject to the provisions of this sub-paragraph, the references in section thirty of the Finance Act, 1947, to the net relevant distributions to proprietors shall, in relation to the business of the underwriter for a chargeable accounting period to which this paragraph applies, be -construed as if—

(a) the references in section thirty-four of that Act to any body corporate, unincorporated society or other body included references to the underwriter; but

(b) the reference in the said section thirty-four to the gross relevant distributions to proprietors (as defined by section thirty-five of that Act) were a reference to the amount of the profits for that chargeable accounting period, computed without abatement and including franked investment income, less the profits tax payable for that period, and less also the gross amount of any payment into a special reserve fund made by reason of a profit for that period:

Provided that where there has been a loss for any previous chargeable accounting period to which this paragraph applies, the reference in paragraph (b) of this sub-paragraph to the amount of the profits computed without abatement and including franked investment income shall be construed as a reference to what that amount would have been if sub-paragraph (2) of paragraph 2 of the Fourth Schedule to the Finance Act, 1937 (which authorises losses to be carried forward and deducted from profits for subsequent chargeable accounting periods) had applied only to losses if and in so far as they exceeded the aggregate of the gross amounts of the payments, if any, made out of special reserve funds into premiums trust funds as the result of losses sustained in the business for the years in question.

(6) Nothing in paragraph 9 of this Schedule shall be construed as requiring or authorising any payment into or out of a special reserve fund to be taken into account in computing for profits tax purposes the profits for a chargeable accounting period to which this paragraph applies.

Supplemental

11 The arrangements may from time to time be varied with the consent of the Commissioners of Inland Revenue and the Board of Trade.

12 If, after giving notice in writing of their intention so to do to the Committee of Lloyd's or the managing body of whatever other association of underwriters is in question, the Commissioners of Inland Revenue or the Board of Trade cancel the approval or certificate which they have given with respect to the arrangements—

(a) no underwriting member may give a notice of adherence to the arrangements after the date of the cancellation ; and

(b) paragraph 6 of this Schedule shall not apply, in the case of any underwriter, to any year of assessment after the year of assessment in which the approval or certificate is cancelled.

13 (1) In this Schedule—

• " business ", in relation to the underwriter, means his underwriting business as a member of Lloyd's or of whatever other association of underwriters is in question, whether carried on personally or through an underwriting agent, and does not include any other business carried on by him, and in particular, where he is himself an underwriting agent, does not include his business as such an agent;

• " net amount " and " gross amount ", in relation to any payment, mean respectively the sum actually paid and the sum which, after deduction of income tax, is equal to the sum actually paid ;

• " premiums trust fund " means such a trust fund as is referred to in paragraph 1 of the Eighth Schedule to the Assurance Companies Act, 1909, as amended by paragraph 3 of Part II of the Second Schedule to the Assurance Companies Act, 1946;

• " underwriting year " means, in relation to the business of the underwriter as a member of Lloyd's, the calendar year, and, in relation to the business of the underwriter as a member of any other association of underwriters, the period of twelve months for which, under the rules or practice of that association, the accounts of the business of the underwriter fall to be made up.

(2) For the purpose of construing any reference in this Schedule to the year of assessment which corresponds to an underwriting year or to the underwriting year which corresponds to a year of assessment, an underwriting year and a year of assessment shall be deemed to correspond to each other in the case of an underwriter if, assuming that there were no question arising in connection with the commencement or cessation of the business of that underwriter, that underwriting year is the period on the profits or gains of which income tax for that year of assessment would fall to be computed under Case I of Schedule D in respect of that business.

Section 52.

ELEVENTH SCHEDULE

PART I Repeals of Provisions as to Appraisers etc.

Session and Chapter	Short Title	Extent of Repeal
46 Geo. 3. c. 43	The Appraisers Licences Act, 1806.	The whole Act.
6 Geo. 4. c. 81	The Excise Licences Act, 1825.	In section seven the words " (except in the case of auctioneers)" and the words from " save" onwards; and in section ten the words " auctioneers and ".
10 Geo. 4. c. 50	The Crown Lands Act, 1829.	Section seventy-eight.
7 Will. 4 and 1 Vict. c. 41.	The Small Debt (Scotland) Act, 1837.	In section twenty the words from " arid no officer " to " notwithstanding ".
8 & 9 Vict. c. 15.	The Auctioneers Act, 1845.	Sections two to six and section eight.
8 & 9 Vict. c. 76.	The Revenue Act, 1845.	Section one.
24 & 25 Vict. c. 21.	The Revenue (No. 1) Act, 1861.	The whole Act.
27 & 28 Vict. c. 56.	The Revenue (No. 2) Act, 1864.	In section six the words " Appraisers " and " House agents" and in section fourteen the words from the beginning to " Provided that ", the words " such licensed ", the words " provided also that" and the word " licensed" where last occurring.
30 & 31 Vict. c. 90.	The Revenue Act, 1867.	Sections one to six.
33 & 34 Vict. c. 32.	The Customs and Inland Revenue Act, 1870.	The whole Act.
51 & 52 Vict. c. 8.	The Customs and Inland Revenue Act. 1888.	Subsection (2) of section nine.
51 & 52 Vict. c. 41.	The Local Government Act, 1888.	In the First Schedule the words " Appraisers " " Auctioneers " " House agents" and "Plate dealers ".
53 & 54 Vict. c. 8.	The Customs and Inland Revenue Act, 1890.	In section nine the words " appraiser, auctioneer or ".
15 & 16 Geo. 5. c. 49.	The Supreme Court of Judicature (Consolidation) Act, 1925.	Section two hundred and twenty-one.
12 & 13 Geo. 6. c. 21.	The Solicitors, Public Notaries, etc. Act, 1949.	So much of the First Schedule as relates to the Revenue (No. 1) Act, 1861.

PART II Repeals as to transferred Excise Licences

Session and Chapter	Short Title	Extent of Repeal
Saving The repeal of any enactment by this Part of this Schedule shall not affect its operation as respects licences of any description for a period before the date of the transfer of the duties on those licences under section fifteen of this Act.
23 & 24 Vict. c. 27.	The Refreshment Houses Act, 1860.	In section ten the words from the first " by" to "behalf".
24 & 25 Vict. c. 91.	The Revenue (No. 2) Act, 1861.	In section nine the words from " the following duties" to " upwards " where next occurring, and the scale of abatements.
35 & 36 Vict. c. 93.	The Pawnbrokers Act, 1872	In section thirty-seven the words " and shall determine on the thirty-first day of July ".
39 & 40 Vict. c. 16.	The Customs and Inland Revenue Act, 1876.	The whole Act.
51 & 52 Vict. c. 33.	The Hawkers Act, 1888.	In subsection (2) of section three the words " and shall expire on the thirty-first day of March in each year ".
51 & 52, Vict. c. 41.	The Local Government Act, 1888.	In the First Schedule the words " Refreshment house keepers ", " Hawkers " and " Pawnbrokers ".
17 & 18 Geo. 5. c. 21.	The Moneylenders Act, 1927.	In section one, in subsection (2) the words from the first " by " to " them ".

PART III Miscellaneous Customs and Excise Repeals

Session and Chapter	Short Title	Extent of Repeal
Saving The repeal of any enactment by this Part of this Schedule shall not affect its operation as respects any drawback of duty, where it is shown to the satisfaction of the Commissioners of Customs and Excise that the duty was paid at the rate in force at the beginning of the sixth day of April, nineteen hundred and forty-nine.
30 & 31 Vict. c. 5.	The Dog Licences Act, 1867	Section five, from the second " and," onwards.
22 & 23 Geo. 5. c. 53.	The Ottawa Agreements Act, 1932.	Section three.
26 Geo. 5 and 1 Edw. 8. c. 34.	The Finance Act, 1936	Sections one and four.
1 & 2 Geo 6. c. 46.	The Finance Act, 1938	Section five.
2 & 3 Geo. 6. c. 109.	The Finance (No. 2) Act, 1939.	Section three; in section six, in subsection (1) the words " sugar, molasses, glucose and" and paragraph (b), and subsection (2); the Third Schedule; the Fifth Schedule except the entries as to saccharin in Parts I and III.
3 & 4 Geo. 6. c. 29.	The Finance Act, 1940	Sections four and five and the Fourth Schedule.
6 & 7 Geo. 6. c. 28.	The Finance Act, 1943	Subsection (2) of section ten.
8 & 9 Geo. 6. c. 24.	The Finance Act, 1945	Section one.
11 & 12 Geo. 6. c. 49.	The Finance Act, 1948	Section two; subsections (1) and (2) of section four; subsection (1) of section five; the Second, Fourth and Fifth Schedules.

PART IV Death Duty Repeals

Session and Chapter	Short Title	Extent of Repeal
Saving The repeal of any enactment by this Part of this Schedule shall not affect its operation in relation to estate duty leviable on or by reference to a death occurring before the commencement of this Act, or in relation to any legacy duty, succession duty or temporary estate duty under section six of the Customs and Inland Revenue Act, 1889, to which section twenty-seven of this Act does not apply.
36 Geo. 3. c. 52.	The Legacy Duty Act, 1796.	The whole Act, except section thirty-seven.
39 Geo. 3. c. 73.	The Legacy Duty Act, 1799.	The whole Act.
45 Geo. 3. c. 28.	The Legacy Duty Act, 1805.	The whole Act.
48 Geo. 3. c. 149.	The Probate and Legacy Duties Act, 1808.	Section forty-four.
55 Geo. 3. c. 184.	The Stamp Act, 1815.	Section two, so far as relates to legacy duty; Part III of the Schedule from the beginning of the heading " Legacies and Successions " onwards.
8 & 9 Vict. c. 76.	The Revenue Act, 1845.	Section four.
16 & 17 Vict. c. 51.	The Succession Duty Act, 1853.	The whole Act except sections forty-seven, forty-nine and fifty-three.
24 & 25 Vict. c. 92.	The Probate Duty Act, 1861.	Section one.
26 & 27 Vict. c. 87.	The Trustee Savings Banks Act, 1863.	In section forty-one, the words from " nor upon any legacy " to " administration " where next occurring.
31 & 32 Vict. c. 124.	The Inland Revenue Act, 1868.	Section nine.
43 Vict. c. 14.	The Customs and Inland Revenue Act, 1880.	Sections eleven to thirteen.
44 & 45 Vict. c. 12.	The Customs and Inland Revenue Act, 1881.	Sections forty-one to forty-three.
46 & 47 Vict. c. 47.	The Provident Nominations and Small Intestacies Act, 1883.	Subsection (1) of section ten.
51 & 52 Vict. c. 8.	The Customs and Inland Revenue Act, 1888.	Sections twenty-one and twenty-two.
52 & 53 Vict. c. 7.	The Customs and Inland Revenue Act, 1889.	Section six; in section seven, the words "or in respect of the value of any succession upon the death of any person so dying "; section ten.
57 & 58 Vict. c. 30.	The Finance Act, 1894.	Subsection (2) of section two; subsection (5) of section five; in subsection (3) of section thirteen, the words " and the legacy and succession duties"; subsection (4) of section fifteen from " which " onwards; section eighteen; paragraphs 3 and 5 of the First Schedule and in paragraph 4 of that Schedule the words " and 6 ".
59 & 60 Vict. c. 25.	The Friendly Societies Act, 1896.	Subsections (3) and (4) of section fifty-seven.
10 Edw. 7 & 1 Geo. 5. c. 8.	The Finance (1909-10) Act, 1910.	In subsection (1) of section fifty-six, the words " or succession duty in respect of any real (including leasehold) property "; section fifty-eight; subsection (5) of section sixty-one from " This subsection shall apply " onwards.
3 & 4 Geo. 5. c. 31.	The Industrial and Provident Societies (Amendment) Act, 1913.	In section six, the words " and a duly stamped receipt for the succession or legacy duty " and the words " succession or legacy " where last occurring.
4 & 5 Geo. 5. c. 10.	The Finance Act, 1914.	Subsection (2) of section thirteen.
5 & 6 Geo. 5. c. 89.	The Finance (No. 2) Act, 1915.	Section forty-six.
7 & 8 Geo. 5. c. 31.	The Finance Act, 1917.	In section twenty-nine, the words " and section forty-six of the Finance (No. 2) Act, 1915 ".
12 & 13 Geo. 5. c. 17.	The Finance Act, 1922.	Section forty-four.
13 & 14 Geo. 5. c. 14.	The Finance Act, 1923.	Section thirty-seven.
15 & 16 Geo. 5. c. 18.	The Settled Land Act, 1925.	In the definition of " death duty " in subsection (1) of section one hundred and seventeen, the words " succession duty, legacy duty ".
15 & 16 Geo. 5. c. 20.	The Law of Property Act, 1925.	In the definition of " death duty " in subsection (1) of section two hundred and five, the words "Succession duty, legacy duty ".
15 & 16 Geo. 5. c. 21.	The Land Registration Act, 1925.	In the definition of " death duty " in section three, the words " succession duty, legacy duty ".
15 & 16 Geo.5. c. 36.	The Finance Act, 1925.	Section twenty-four.
16 & 17 Geo. 5. c. 29.	The Adoption of Children Act, 1926.	In subsection (3) of section five, the words " succession, legacy or other ".
16 & 17 Geo. 5. c. 60.	The Legitimacy Act, 1926.	In section seven, the words " succession, legacy or other "
17 & 18 Geo. 5. c. 10.	The Finance Act, 1927.	Section fifty-two.
20 & 21 Geo. 5. c. 28.	The Finance Act, 1930.	Section forty, except as respects estate duty.
20 & 21 Geo. 5. c. 37.	The Adoption of Children (Scotland) Act, 1930.	In subsection (4) of section five the words " succession, legacy or other ".
26 Geo. 5 & 1 Edw. 8. c. 34.	The Finance Act, 1936.	Section twenty-four.
1 Edw. 8 & 1 Geo. 6. c. 54.	The Finance Act, 1937.	Subsection (4) of section thirty-one.
1 & 2 Geo. 6. c. 45.	The Inheritance (Family Provision) Act, 1938.	In subsection (1) of section five, the words " succession duty, legacy duty "
7 & 8 Geo. 6. c. 23.	The Finance Act, 1944.	Section forty-three; in the Fourth Schedule, Part III and paragraph 3 of Part IV from the first" and" onwards.
9 & 10 Geo. 6. c. 13.	The Finance (No. 2) Act, 1945.	Subsection (4) of section fifty-seven.
9 & 10 Geo. 6. c. 64.	The Finance Act, 1946.	In section forty-six, paragraphs (a) and (b); section forty-nine, except the words " in subsection (1) of the said section fifty-six " and the words following the last " and"; in the Tenth Schedule, Parts I and II, and in Part III paragraph 3 from " and the legacy" onwards.
10 & 11 Geo. 6. c. 35.	The Finance Act, 1947.	Section forty-nine; in section fifty, paragraph (b) of subsection (1), and the words from "and accordingly " in that subsection to the end of the section.
11 & 12 Geo. 6. c. 39.	The Industrial Assurance and Friendly Societies Act, 1948.	In subsection (3) of section eighteen, paragraphs (a) and (c).

PART V Stamp Duty Repeals

Session and Chapter	Short Title	Extent of Repeal
42 Geo. 3. c. 116.	The Land Tax Redemption Act, 1802.	In section one hundred and seventy-three, the words from the last " nor" to the last " Act".
48 Geo. 3. c. 149.	The Probate and Legacy Duties Act, 1808.	In section thirty-eight, the words " and which oath or affirmation shall not be chargeable with any stamp duty ".
53 Geo. 3. c. 123.	The Land Tax Redemption Act, 1813.	Section thirty from " and no " onwards.
55 Geo. 3. c. 184.	The Stamp Act, 1815	Sections twenty-one and twenty-two.
7 Geo. 4. c. 16	The Chelsea and Kilmainham Hospitals Act, 1826.	In section thirty-nine, the words " and affidavits ".
6 & 7 Will. 4. c. 86.	The Births and Deaths Registration Act, 1836.	In section thirteen, the words " and certified copies of registers ".
8 & 9 Vict. c. 118.	The Inclosure Act, 1845	In section one hundred and sixty-three, the word " award ".
17 & 18 Vict. c. 80.	The Registration of Births, Deaths and Marriages (Scotland) Act, 1854.	In section sixteen, the words from " and the " to " herein mentioned."
20 & 21 Vict. c. 71.	The Lunacy (Scotland) Act, 1857.	In section twenty-eight, the words " and shall bear a stamp denoting a duty of ten shillings ", the words " exclusive of the sum to be paid for the stamp " and the words in the proviso from " and the said duty " to " stamp duties ".
26 & 27 Vict. c. 87.	The Trustee Savings Banks Act, 1863.	Section forty-two.
28 & 29 Vict. c. 111.	The Navy and Marines (Property of Deceased) Act, 1865.	In section fifteen, the words from the second " where" to the second " exempt".
31 & 32 Vict. c. 89.	The Inclosure, etc., Expenses Act, 1868.	Section two.
35 & 36 Vict. c. 24.	The Charitable Trustees Incorporation Act, 1872.	Section nine.
35 & 36 Vict. c. 26.	The Review of Justices' Decisions Act, 1872.	In section two, the words " or any stamp duty thereupon ".
42 & 43 Vict. c. 19.	The Habitual Drunkards Act, 1879.	In section fourteen, the words from the beginning to " accordingly " and the words " stamp and ".
45 & 46 Vict. c. 50.	The Municipal Corporations Act, 1882.	Subsection (9) of section forty-five.
46 & 47 Vict. c. 47.	The Provident Nominations and Small Intestacies Act, 1883.	In section three, the word " forty-two ".
47 & 48 Vict. c. 55.	The Pensions and Yeomanry Pay Act, 1884.	In section five, the word " affidavit."
52 & 53 Vict. c. 7.	The Customs and Inland Revenue Act, 1889.	In subsection (1) of section thirteen the words " (which shall be exempt from stamp duty)".
53 & 54 Vict. c. 5.	The Lunacy Act, 1890	In section two hundred and sixteen, the words " shall be stamped with a ten shilling stamp and ", and in subsections (1) and (4) of section two hundred and seventeen the words " (exclusive of the stamp) ".
54 & 55 Vict. c. 39.	The Stamp Act, 1891	Sections eighteen, nineteen, twenty-four, twenty-seven, forty and forty-two; subsection (2) of section forty-nine; sections fifty and fifty-one; paragraphs (a) and (b) of subsection (1) of section sixty-one ; sections sixty-three to sixty-eight, seventy-nine and eighty; subsections (4) and (5) of section eighty-seven ; sections ninety and one hundred and ten and subsections (2) and (3) of section one hundred and eleven; in the First Schedule, the heading Bond given pursuant to the directions of any Act from the word "Where" onwards: in the heading Bond on obtaining letters of administration the figures in the second column and the exemptions: in the headings Letter of Allotment and Letter of Renunciation, and Scrip Certificate, Scrip or other document the figures in the second column: in paragraph (1) of the heading Letter or Power of Attorney the figures in the second column: the whole of the headings mentioned in Part I of the Eighth Schedule to this Act except those mentioned in the exemptions in paragraphs 8, 17, 18 and 27 : and the following headings, namely, Allotment, Appointment of a Gamekeeper, Attested Copy, Constat, Cost Book Mines, Customary Estates, Declaration (Statutory), Decreet Arbitral, Dock Warrant, Extract, Letters Patent, Marriage Licence, Renunciation, letter of, Scrip Certificate or Scrip and Valuation: and in the heading Surrender the words " of copyholds, see Copyhold " and the word " other ".
57 & 58 Vict. c. 60.	The Merchant Shipping Act, 1894.	In subsection (1) of section one hundred and eight, the words " and shall be exempt from stamp duty "; in subsection (7) of section three hundred and ninety-five the words " indentures and ".
62 & 63 Vict. c. 9.	The Finance Act, 1899	Section nine.
2 Edw. 7. c. 8	The Cremation Act 1902.	Section seven from " and the Stamp Act, 1891," onwards.
5 Edw. 7. c. 4	The Finance Act, 1905	Subsection (1) of section five.
6 Edw. 7.c. 20	The Revenue Act, 1906	Section nine.
7 Edw. 7. c 13	The Finance Act, 1907	Section nine.
3 & 4 Geo. 5. c. 20.	The Bankruptcy (Scotland) Act, 1913.	In section one hundred and eighty-nine, the words " oaths, affidavits" and the words " decrees arbitral".
4 & 5 Geo. 5. c. 47.	The Deeds of Arrangement Act, 1914.	In section two, the words " ordinary and ad valorem "; in subsection (2) of section five the words from " and " to " payable under the deed ".
4 & 5 Geo. 5. c. 59.	The Bankruptcy Act, 1914.	In section one hundred and forty-eight, the word " affidavit ".
8 & 9 Geo. 5. c. 40.	The Income Tax Act, 1918.	In section two hundred and seventeen, the words from " affidavit " to " made " except the word " given ".
10 & 11 Geo. 5. c. 18.	The Finance Act, 1920	Section thirty-five.
19 & 20 Geo. 5. c. 29.	The Government Annuities Act, 1929.	In subsection (1) of section twenty-two, the words " declaration or affidavit " and the words " or taken "; in section fifty-eight, paragraph (a) and in paragraph (b) the words " or declaration ".
20 & 21 Geo. 5. c. 28.	The Finance Act, 1930	Section forty-three.
23 & 24 Geo. 5. c. 51.	The Local Government Act, 1933.	Section two hundred and sixty-five.
9 & 10 Geo. 6. c. 62.	The National Insurance (Industrial Injuries) Act, 1946.	In the Sixth Schedule, the words " including a statutory declaration " in paragraph 4.
9 & 10 Geo. 6. c. 67.	The National Insurance Act, 1946.	In the Seventh Schedule, the words " including a statutory declaration " in paragraph 4.
10 & 11 Geo. 6. c. 27.	The National Health Service (Scotland) Act, 1947.	In the Ninth Schedule, in the proviso inserted in section twenty-eight of the Lunacy (Scotland) Act, 1857, the words " to the said duty of ten shillings or ".
10 & 11 Geo. 6. c. 35.	The Finance Act, 1947	In section fifty-two, sub-paragraph (v) of paragraph (a) of subsection (2) and subsection (3); in subsection (2) of section fifty-five, the words from the first " under " to " or " and from the beginning of paragraph (a) to " any duty " in paragraph (b); subsection (2) of section fifty-six; section fifty-eight from the second " and " in subsection (1) onwards; and sections sixty to sixty-two except as mentioned in section thirty-four of this Act.
11 & 12 Geo. 6. c. 38.	The Companies Act, 1948.	In section three hundred and thirty-nine, in subsection (1) the word " affidavit" and in subsection (2) the words " oath, affidavit " and the words " decree arbitral".
11 & 12 Geo. 6. c. 65	The Representation of the People Act, 1948	In the Eighth Schedule, the words from " exempting " to " and " in sub-paragraph (2) of paragraph 5.

PART VI Land Tax Repeals

Session and Chapter	Title or Short Title	Extent of Repeal
Saving The repeal of any enactment by this Part of this Schedule shall not affect its operation in relation to the assessment or appeals from the assessment of land tax for the land tax year 1948-9 or any earlier year or in relation to the collection or recovery of any such tax, or affect the area for which any land tax commissioners are to have jurisdiction.
38 Geo. 3. c. 5	The Land Tax Act, 1797.	Sections one, two and four; in section seven the words from "and shall ascertain" to " hereby appointed commissioners "; section eight; section eighteen from " and in case " onwards; sections twenty-five to twenty-nine, thirty-four, thirty-six to thirty-eight, forty and fifty-three; in section fifty-seven the words from " and they" to " such salaries and pensions"; sections seventy and seventy-one, seventy-seven to eighty, eighty-four, one hundred and twenty-four, one hundred and twenty-eight and one hundred and twenty-nine.
38 Geo. 3. c. 60	The Land Tax Perpetuation Act, 1798.	The whole Act.
42 Geo. 3. c. 116.	The Land Tax Redemption Act, 1802.	Sections thirty-five and thirty-six, except as respects contracts for redemption entered into before the first day of April, nineteen hundred and fifty; sections one hundred and twenty-nine and one hundred and thirty; in section one hundred and sixty-seven the words from " and immediately " to "into; and"; sections one hundred and eighty to one hundred and eighty-two.
48 Geo. 3. c. 141.	An Act to amend the Acts relating to the duties of assessed taxes and of the tax upon profits of property, professions, trades and offices, and to regulate the assessment and collection of the same.	The whole Act.
53 Geo. 3. c. 123.	The Land Tax Redemption Act, 1813.	In Schedule E, the third rule from " and if" onwards.
53 Geo. 3. c. 142.	The Land Tax Act, 1813.	The whole Act.
1 & 2 Will. 4. c. 21.	The Land Tax Act, 1831.	The whole Act.
4 & 5 Will. 4. c. 60.	The Land Tax Act, 1834.	The whole Act.
1 & 2 Vict. c. 58.	The Land Tax Redemption Act. 1838.	Sections two, three and four.
5 & 6 Vict. c 37.	The Land Tax Act, 1842	The whole Act.
8 & 9 Vict. c. 18.	The Lands Clauses Consolidation Act, 1845.	In section one hundred and thirty-three, the words " charged with the land tax or ", the words " land tax or", the words " land tax and " and the words from " nevertheless " onwards.
8 & 9 Vict. c. 19.	The Lands Clauses Consolidation (Scotland) Act, 1845.	In section one hundred and twenty-seven, the words, " charged with the land tax or ", the words " land tax and " in both places and the words from " nevertheless " onwards.
41 & 42 Vict. c. 15.	The Customs and Inland Revenue Act, 1878.	Section sixteen.
43 & 44 Vict. c. 19.	The Taxes Management Act, 1880.	Section thirty-three; in section thirty-six, in subsection (1) the words " together with the quota of land tax payable by it at the time of such transfer " and in subsection (3) the words " together with the quotas to be assessed and levied on the parishes so transferred "; subsection (4) of section thirty-seven ; sections sixty-one, seventy and eighty-three; subsection (1) of section eighty-five; in section one hundred and three, paragraph (c); sections one hundred and twelve and one hundred and fourteen; in the Second Schedule, forms 18, 19 and 20.
59 & 60 Vict. c. 28.	The Finance Act, 1896	Section thirty-one; in section thirty-two, in subsection (1) the words from " equal" to " section " and subsections (2) and (3); in section thirty-five, the definitions of " land subject to land tax " and of " annual value ".
61 & 62 Vict, c. 10.	The Finance Act, 1898	Subsection (1) of section twelve from the last " and " onwards.
11 & 12 Geo. 5. c. 32.	The Finance Act, 1921	In section sixty-four, subsection (1) to the word " and" and subsection (2).
1 & 2 Geo. 6. c. 46.	The Finance Act, 1938	In section fifty-two the words " for which that tax is assessed."
5 & 6 Geo. 6. c. 21.	The Finance Act, 1942	Section forty-three, except as to the sum payable for redemption in the case of a contract entered into before the first day of April, nineteen hundred and fifty; in Part II of the Tenth Schedule, paragraphs 1, 2 and 3 and in paragraph 4 the words " or return of arrears ", and the words from " and in" onwards except the words " shall not have effect ".

PART VII National Debt Repeals

Session and Chapter	Short Title	Extent of Repeal
33 & 34 Vict. c. 71.	The National Debt Act, 1870.	In section fifty-four, the words from " be from time to time " to the word " to " where next occurring, and the words " and the stock arising from the investment thereof"; in section sixty, the words " or from the sale of stock purchased with such dividends or accumulations "; in section sixty-one, the words " investment and ".
11 & 12 Geo. 5. c. 32.	The Finance Act, 1921	Subsection (1) of section forty-nine.

Table of Statutes referred to in this Act

Short Title	Session and Chapter
Legacy Duty Act, 1796	36 Geo. 3. c. 52.
Land Tax Perpetuation Act, 1798	38 Geo. 3. c. 60.
Land Tax Redemption Act, 1802	42 Geo. 3. c. 116.
Land Tax Redemption Act, 1813	53 Geo. 3. c. 123.
Stamp Act, 1815	55 Geo. 3. c. 184.
Succession Duty Act, 1853	16 & 17 Vict. c. 51.
Lunacy (Scotland) Act, 1857
Refreshment Houses Act, 1860	23 & 24 Vict. c. 27.
Revenue (No. 2) Act, 1861	24 &25 Vict. c. 91.
National Debt Reduction Act, 1866	29 & 30 Vict. c. 11.
Dog Licences Act, 1867	30 & 31 Vict. c. 5.
National Debt Act, 1870	33 & 34 Vict. c. 71.
Charitable Trustees Incorporation Act, 1872	35 & 36 Vict. c. 24.
Pawnbrokers Act, 1872	35 & 36 Vict. c. 93.
Sinking Fund Act, 1875	38 & 39 Vict. c. 45.
Habitual Drunkards Act, 1879	42 & 43 Vict. c. 19.
Tavern Management Act, 1880	43 & 44 Vict. c. 19.
Customs and Inland Revenue Act, 1885	48 & 49 Vict. c. 51.
Hawkers Act, 1888	51 & 52 Vict. c. 33.
Interpretation Act, 1889	52 & 53 Vict. c. 63.
Lunacy Act, 1890	53 & 54 Vict. c. 5.
Customs and Inland Revenue Act, 1890	53 & 54 Vict. c. 8.
Stamp Act, 1891	54 & 55 Vict. c. 39.
Savings Bank Act, 1893	56 & 57 Vict. c. 69.
Finance Act, 1894	57 & 58 Vict. c. 30.
Finance Act, 1895	58 & 59 Vict. c. 16.
Finance Act, 1896	59 & 60 Vict. c. 28.
Assurance Companies Act, 1909	9 Edw. 7. c. 49.
Finance (1909-10) Act, 1910	10 Edw. 7. & 1 Geo. 5. c. 8.
Deeds of Arrangement Act, 1914	4 & 5 Geo. 6. c. 47.
Finance (New Duties) Act, 1916	6 & 7 Geo. 5. c. 11.
Finance Act, 1919	9 & 10 Geo. 5. c. 32.
Acquisition of Land (Assessment of Compensation) Act, 1919	9 & 10 Geo. 5. c. 57.
Increase of Rent and Mortgage Interest (Restrictions) Act, 1920	10 & 11 Geo. 5. c. 17.
Government of Ireland Act, 1920	10 & 11 Geo. 5. c. 67.
Finance Act, 1921	11 & 12 Geo. 5. c. 32.
Safeguarding of Industries Act, 1921	11 & 12 Geo. 5. c. 47.
Finance Act, 1923	13 & 14 Geo. 5. c. 14.
Finance Act, 1924	14 & 15 Geo. 5. c. 21.
Settled Land Act, 1925	15 & 16 Geo. 5. c. 18.
Law of Property Act, 1925	15 & 16 Geo. 5. c. 20.
Land Registration Act, 1925	15 & 16 Geo. 5. c. 21.
Land Charges Act, 1925	15 & 16 Geo. 5. c. 22.
Finance Act, 1925	15 & 16 Geo. 5. c. 36.
Finance Act, 1926	16 & 17 Geo. 5. c. 22.
Finance Act, 1927	17 & 18 Geo. 5. c. 10.
Moneylenders Act, 1927	17 & 18 Geo. 5. c. 21.
Finance Act, 1928	18 & 19 Geo. 5. c. 17.
Finance Act, 1929	19 & 20 Geo. 5. c. 21.
Import Duties Act, 1932	22 & 23 Geo. 5. c. 8.
Ottawa Agreements Act, 1932	22 & 23 Geo. 5. c. 53.
Finance Act, 1932	22 & 23 Geo. 5. c. 25.
Protection of Animals (Cruelty to Dogs) Act, 1933	23 & 24 Geo. 5. c. 17.
Finance Act, 1933	23 & 24 Geo. 5. c. 19.
Protection of Animals (Cruelty to Dogs) (Scotland) Act, 1934	24 & 25 Geo. 5. c. 25.
Finance Act, 1934	24 & 25 Geo. 5. c. 32.
Finance Act, 1936	26 Geo. 5. & 1 Edw. 8. c. 34.
Finance Act, 1937	1 Edw. 8. & 1 Geo. 6. c. 54.
Finance Act, 1938	1 & 2 Geo. 6. c. 46.
Finance (No. 2) Act, 1939	2 & 3 Geo. 6. c. 109.
Finance Act, 1940	3 & 4 Geo. 6. c. 29.
Finance Act, 1942	5 & 6 Geo. 6. c. 21.
Finance Act, 1943	6 & 7 Geo. 6. c. 28.
Income Tax (Employments) Act, 1943	6 & 7 Geo. 6. c. 45.
Finance Act, 1944	7 & 8 Geo. 6. c. 23.
Finance Act, 1945	8 & 9 Geo. 6. c. 24.
Income Tax Act, 1945	8 & 9 Geo. 6. c. 32.
Finance (No. 2) Act, 1945	9 & 10 Geo. 6. c. 13.
Assurance Companies Act, 1946	9 & 10 Geo. 6. c. 28.
Finance Act, 1946	9 & 10 Geo. 6. c. 64.
Finance Act, 1947	10 & 11 Geo. 6. c. 35.
Local Government (Scotland) Act, 1947	10 & 11 Geo. 6.c. 43.
Town and Country Planning Act, 1947	10 & 11 Geo. 6. c. 51.
Town and Country Planning (Scotland) Act, 1947	10 & 11 Geo. 6. c. 53.
Finance Act, 1948	11 & 12 Geo. 6. c. 49.