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Finance (Post-War Refunds Of Income Tax)

Volume 526: debated on Wednesday 14 April 1954

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Resolution reported,

That, for the purposes of any Act of the present Session relating to finance, it is expedient to authorise—
  • (a) the issue out of the Consolidated Fund of any sums required for paying any postwar credit for income tax of which a person would be entitled but for his death or bankruptcy to claim payment under section twenty-six of the Finance Act, 1946, as amended, to the person for the time being entitled to the credit (but so that payment shall not be made to a person whose title depends on an assignment or charge made after the sixth day of April, nineteen hundred and fifty-four, and not made either to give effect to an agreement entered into before that date or in favour of a person taking property or an interest in property under the will or intestacy, or a creditor of the estate, of the person whose personal representatives make it);
  • (b) the borrowing of money under the National Loans Act, 1939, for the purpose of providing the sums so issued.
  • Resolution agreed to.