The New Income Tax in Relation to the War & Businesss

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Newberry and Pickering, 1915 - Great Britain - 32 pages
 

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Page 9 - It is not enough that the disbursement is made in the course of, or arises out of, or is connected with, the trade or is made out of the profits of the trade. It must be made for the purpose of earning the profits.
Page 12 - ... from any other specific cause be deprived of or lose the profits or gains on which the computation of duty charged in such assessment was made, it shall be lawful for such person, or his executors or administrators, to make application to the Commissioners for general purposes of the district within three calendar months after the end of such year, and on due proof thereof to their satisfaction the said Commissioners shall cause the assessment to be amended, as the case may require, and give...
Page 13 - Acts relating to income tax for an adjustment of his liability by reference to the loss and to the aggregate amount of his income for that year estimated according to the several rules and directions of the said Acts (w).
Page 17 - ... Acts relating to income tax that the actual income from all sources of any individual charged to super-tax for the current income tax year is or will be less than two-thirds of the income on which he is liable to be so charged, he shall be entitled to postpone the payment of so much of the super-tax payable by him as represents the difference between the tax payable on the income on which he is liable to be assessed and the tax which would have been payable by him if he had been assessed on his...
Page 15 - ... shall be entitled to be charged on the actual amount of the profits or gains arising from the profession, trade, or vocation in that year, and shall also, if he proves to the satisfaction of the Commissioners, by whom the assessment has been or could have been made, that the total amount of the income tax paid during the three previous years in respect of that profession, trade, or vocation, exceeds the total amount which would have been paid if he had been assessed in each of those years on...
Page 15 - ... profession, trade, or vocation which has been set up or commenced within the period of three years upon the average of which the profits or gains are to be taken...
Page 18 - ... contained in Schedule (D.), whether he shall have computed his profits or gains arising as last aforesaid on the amount thereof in the preceding or current year, or on an average of years, shall find, and shall prove to the...
Page 17 - ... military or naval forces of the Crown, or in any work abroad of the British Red Cross Society, or the St. John Ambulance Association, or any other body with similar objects...
Page 12 - And be it enacted, that in case any person charged to the said duties under Schedule D, whether the computation thereon shall have been made on the profits of one year or on an average, as herein allowed, shall cease to...
Page 18 - average of years, shall find and shall prove to the satisfaction "• of the Commissioners...

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