Finance (No. 2) Act 1931 (1931 c. 49)

1—4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F1] Ss. 1–4 repealed by Customs and Excise Act 1952 (c. 44), s. 320, Sch. 12 Pt. I

5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F2] S. 5 repealed by Finance (No. 2) Act 1940 (c. 48), s. 42(8), Sch. 10

6—10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F3] Ss. 6–10 repealed (with savings) by Income Tax Act 1952 (c. 10), s. 527, Sch. 25

11—19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F4] Pt. III (ss. 11–19) repealed by Statute Law Revision Act 1950

Part IV Miscellaneous and General

20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F5] S. 20 repealed by Finance Act 1936 (c. 34), s. 33, Sch. 3 Pt. II

21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F6] S. 21 repealed by Statute Law Revision Act 1959

22 Provisions in cases where Treasury has power to borrow money.

(1) Any securities issued by the Treasury under any Act may be issued with the condition that—

(a) so long as the securities are in the beneficial ownership of persons who are not ... resident in the United Kingdom, the interest thereon shall be exempt from income tax: and

[F7] Word in s. 22(1)(a)(b) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 114(1) (with Sch. 46 para. 114(2)-(6))

(b) so long as the securities are in the beneficial ownership of persons who are not ... resident in the United Kingdom, neither the capital thereof nor the interest thereon shall be liable to any taxation present or future.

[F8] Word in s. 22(1)(b) substituted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2025 (c. 8), s. 40(4), Sch. 9 para. 24(1) (with Sch. 9 para. 24(3)(4))

[F7] Word in s. 22(1)(a)(b) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 114(1) (with Sch. 46 para. 114(2)-(6))

(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F10] Ss. 22(2), 23 repealed (with saving) by Income Tax Act 1952 (c. 10), s. 527, Sch. 25

24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F11] S. 24 repealed by Statute Law Revision Act 1950

25 †Construction; short title and repeal.

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F12] S. 25(1) repealed by Finance Act 1964 (c. 49), s. 26(7), Sch. 9

(2) This Act, so far as it relates to income tax, shall be construed as one with the Income Tax Acts.

(3) Any reference in this Act to any enactment shall be construed as a reference to that enactment as amended by any subsequent enactment including (save where the context otherwise requires) this Act.

(4) This Act may be cited as the Finance (No. 2) Act, 1931.

(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F13] S. 25(5) repealed by Statute Law Revision Act 1950 (14 Geo. 6 c. 6)

SCHEDULE 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F14] Schedule 1 repealed by Finance Act 1964 (c. 49), s. 26(7), Sch. 9

SCHEDULE 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F15] Schedule 2 repealed by Finance (No. 2) Act 1940 (c. 48), s. 42(8), Sch. 10

SCHEDULES 3, 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F16] Schedules 3, 4 repealed (with savings) by Income Tax Act 1952 (c. 10), s. 527, Sch. 25

SCHEDULE 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F17] Schedule 5 repealed by Statute Law Revision Act 1950 (14 Geo. 6 c. 6)