Income Tax Act 1842

Income Tax Act 1842[a]
Act of Parliament
Parliament of the United Kingdom
Long titleAn Act for granting to Her Majesty Duties on Profits arising from Property, Professions, Trades and Offices, until the Sixth Day of April, One thousand eight hundred and forty-five.
Citation5 & 6 Vict. c. 35
Territorial extent United Kingdom
Dates
Royal assent22 June 1842
Commencement5 April 1842[b]
Repealed6 April 1919
Other legislation
Amended by
Repealed byIncome Tax Act 1918
Relates to
  • Income Tax Act 1803
Status: Repealed
Text of statute as originally enacted

The Income Tax Act 1842[a] (5 & 6 Vict. c. 35) was an act of the Parliament of the United Kingdom, passed under the government of Robert Peel, which re-introduced an income tax in Britain, at the rate of 7 pence (2.9%, there then being 240 pence in the pound) in the pound on all annual incomes greater than £150. It was the first imposition of income tax in Britain outside of wartime. Although promoted as a temporary measure, income tax has been levied continually in Britain ever since. In its detail, the 1842 act was substantially similar to the Income Tax Act 1803 (43 Geo. 3. c. 122) introduced by Henry Addington during the Napoleonic Wars.

Subsequent developments

The whole act was repealed by section 238 of, and the seventh schedule to, the Income Tax Act 1918 (8 & 9 Geo. 5. c. 40), which came into force on 6 April 1919.[1]

See also

Notes

  1. ^ a b The citation of this act by this short title was authorised by section 1 of, and the first schedule to, the Short Titles Act 1896. Due to the repeal of those provisions it is now authorised by section 19(2) of the Interpretation Act 1978.
  2. ^ Section 1.

References

  1. ^ "Income Tax Act 1918", legislation.gov.uk, The National Archives, Geo5/8-9 c. 40


This article is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.