Finance Act 1962
|Publication Date:||January 01, 1962|
Finance Act, 1962
(10 & 11 Eliz. 2) CHAPTER 44
An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.
Most Gracious Sovereign,
We, Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards raising the necessary supplies to defray Your Majesty's public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
Customs, Excise and Purchase Tax
1 Surcharge under Finance Act, 1961, s. 9, and relatedchanges in rates of revenue duties.
(1) As from the tenth day of April, nineteen hundred and sixty-two,—
(a ) the adjustment of ten per cent. which had effect immedately before that day under subsection (2) of section nine of the Finance Act, 1961, shall not have effect in the case of any duty or tax to which the section applies or of any drawback, rebate, allowance or other payment in connection with such a duty or tax; but
(b ) subsection (2) below shall have effect in the case of the articles and duties there mentioned with a view to making an equivalent increase (that is to say, an increase of ten per cent. or as near thereto as is convenient) in the rates of those duties or, as the case may be, making an equivalent increase in one or more of the duties or rates applying to the articles and such related increases in others of them as will take account of existing preferences and other matters or will tend to simplify the duty.
(2) The customs and excise duties to be so increased and the amounts of the increases, together with the increase in the rates of any drawback where those rates are not under the enactments relating to the duty fixed by the rates of duty, shall be as appears from the following paragraphs, that is to say:—
(a ) in the case of spirits other than imported perfumed spirits, beer (but not black beer), wine and British wine the equivalent increase shall be made—
(i) in the rate of the excise duty on spirits not chargeable with additional duty as immature spirits and
(ii) in the rate of the excise duty on beer; and
(iii) in the Commonwealth rates of the customs duty on still wines and in the excise duty on still British wine
and the full and Commonwealth rates of duty, the rates of excise duty, and in the case of beer the corresponding rates of drawback, shall be as respectively shown in the relevant columns in the First, Second and Third Schedules to this Act (where the First Schedule also sets out in Table II the existing rates of customs duty on imported perfumed spirits);
(b ) in the case of tobacco the equivalent increase shall be made in the rates of duty on unmanufactured tobacco and the full and Commonwealth rates of customs duty the rates of excise duty and the corresponding rates of drawback, shall be as respectively shown in the relevant columns in the Fourth Schedule to this Act;
(c ) in the case of hydrocarbon oils, power methylated spirits and petrol substitutes, the equivalent increase shall be made in the rate of the customs duty on hydrocarbon oils (that rate accordingly becoming two shillings and ninepence a gallon), and the enactments fixing by reference to the rate of that duty the rates of excise duty on those articles and the rates of rebate on heavy oils shall have effect accordingly;
(d ) in the case of the pool betting duty, the equivalent increase shall be made in the rate of the duty applicable to bets other than bets made by means of a totalisator set up on a licensed dog racecourse, with effect for bets made at any time by reference to an event taking place on or after the said tenth day of April, and that rate shall accordingly become thirty-three per cent.;
(e ) in the case of the television advertisement duty, the equivalent increase shall be made in the rate of the duty, with effect for programmes broadcast on or after the said tenth day of April, and that rate shall accordingly become eleven per cent.
The supplementary provisions contained in the First, Second, Third and Fourth Schedules to this Act shall have effect for adapting, with regard to the rates of duty and drawback there provided, the existing enactments concerning the duties in question.
(3) Orders of the Treasury under section nine of the Finance Act, 1961, may, notwithstanding the proviso to subsection (1) of that section, be made or continue in force after the thirty-first day of August, nineteen hundred and sixty-two, but not after the thirty-first day of August, nineteen hundred and sixty-three, or such later date as Parliament may hereafter determine.
(4) For the purposes of this section—
(a ) ‘black beer’ means black beer of an original gravity of 1200 degrees or more; and
(b ) ‘British wine’ means any liquor heretofore comprised in the expression ‘sweets’; and
(c ) ‘Commonwealth rate’ means the rate applying to articles which qualify for Commonwealth preference; and
(d ) ‘licensed dog racecourse’ means a dog racecourse which is a track in respect of which a licence granted under Part I of the Betting and Lotteries Act, 1934, is for the time being in force, and ‘totalisator’ has the same meaning as in the said Part I;
and in the excise Acts for the expression ‘sweets’, wherever occurring, there shall be substituted the expression ‘British wine’.
2 Lower rates of customs duties on E.F.T.A. goods.
(1) In the case of goods of Convention area origin within the meaning of the European Free Trade Association Act, 1960,—
(a ) the duties of customs and drawbacks of those duties mentioned in Table I in the First Schedule and in the Second and Fourth Schedules to this Act, instead of being charged or allowed at the full rates there shown shall be charged or allowed at the Convention rates shown in the relevant columns of those Schedules; and
(b ) the duties of customs charged on matches by section four of the Finance Act, 1951, shall be charged at the rate of 19 s. 7 d. (instead of 19 s. 11 d. ) per 10,000 matches in containers in which there are not more than 30 matches, and at the rate of 14 s. 1 d. (instead of 14 s. 5 d. ) per 7,200 matches in containers in which there are more than 30 matches; and
(c ) the duty of customs charged on mechanical lighters by section six of the Finance Act, 1928, shall be charged at the rate of 6 s. 6 d. (instead of 7 s. 0 d. ) or, in the case of a gas lighter, at the rate of 4 s. 6 d. (instead of 5 s. 0 d. ).
(2) In the application to any of the said duties of any provision contained in the customs Acts and passed before this Act, any reference to a preferential rate shall be taken as referring only to a rate for goods qualifying for Commonwealth preference, and any reference to the full rate (where distinguished from a preferential rate) shall be taken as including any Convention rate of duty.
(3) This section shall have effect as from the tenth day of April, nineteen hundred and sixty-two.
3 Sugar, tea, coffee and cocoa chargeable withprotective instead of revenue duties.
(1) In respect of the following goods, that is to say,—
(a ) sugar, molasses, glucose and saccharin; and
(b ) tea; and
(c ) coffee, chicory and mixtures thereof, and preparations consisting wholly or partly of extracts, essences or other concentrations of coffee or chicory; and
(d ) cocoa, cocoa butter and cocoa husks and shells
there shall be charged under the Import Duties Act, 1958, such duties of customs (if any) as may be provided for in accordance with that Act by any order of the Treasury, and on the coming into force of such an order for goods within any paragraph of this subsection any duties of customs then chargeable under any other Act in respect of goods within that paragraph shall cease to be chargeable.
(2) The following duties of customs shall, until they cease under subsection (1) above to be chargeable, be charged in respect of sugar, invert sugar, glucose and saccharin imported into the United Kingdom, that is to say, in the case of sugar, invert sugar, glucose and saccharin not qualifying for Commonwealth preference, duties at the rates shown in Part I of the Fifth Schedule to this Act, and in the case of sugar qualifying for Commonwealth preference, being sugar of a polarisation exceeding 99, a duty at the rate of 12.8 d. per cwt., and as regards drawback of those duties the following provisions shall apply:—
(a ) drawback allowable in respect of sugar produced in the United Kingdom from dutiable materials shall be as follows:—
(ii) in any other case the drawback shall be of an amount equal to the duty chargeable on sugar of the like polarisation (and qualifying or not qualifying for Commonwealth preference as the materials did or did not so qualify on payment of the duty);
(b ) drawback shall not be allowable (except in the case of invert sugar)...
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