Towns > Edinburgh > 1846-1975 - Post Office Edinburgh and Leith directory > 1892-1893

PROPERTY AND INCOME TAX.
PROPERTY AND INCOME TAX.
[Acts 5 & 6 Vict. c. 35 ; 14 and 15 Vict. c. 12 ; 16 & 17 Vict. c. 34 ; 17 and 18 Vict. c. 10 and c. 24 ;
18 and 19 Vict. c. 20 ; 19 and 20 Vict. c. 80 ; 20 Vict. c. 6 ; 22 and 23 Vict. c. 18 ; 23 Vict. c. 14 ; 24
Vict. c. 20 ; 25 Vict. c. 22 ; 26 Vict. c. 22 ; 26 and 27 Vict. c. 33 ; 27 Vict. c. 18 ; 28 Vict. c. 30 ; 29
Vict. c. 36 ; 30 Vict. c. 23 ; 31 Vict. c. 2 ; 31 and 32 Vict. c. 28 ; 32 and 33 Vict. c. 14; 33 and 34 Vict.
c. 32; 34 and 35 Vict. c. 21; 35 and 36 Vict. c. 20; 36 Vict. c. 18; 37 Vict. c. 16; 38 Vict. c. 23;
39 Vict. c. 16; 40 Vict. c. 13; 41 Vict. c. 15; 42 and 43 Vict. c. 21 ; 43 Vict. c. 14; 43 and 44 Vict,
c. 20 ; 44 Vict. c. 12 ; 45 and 46 Vict. c. 41 ; 46 Vict. c. 10 ; 47 and 48 Vict. c. 25 ; 48 and 49 Vict.
c. 51; 49 Vict. c. 18; 50 and 51 Vict. c. 15'; 51 Vict. c. 8 ; 52 Vict. c. 7 ; 53 Vict. c. 8; and 54 and 55
Vict. c. 25.]
Schedule A— (Real Property.") On each 20s. of
annual value of lands, tenements, and heri-
tages, in respect of the property, 6d.
Schedule B. — (Occupancy of Real Property.") On
each 20s. of annual value of lands, tenements,
and heritages (other than a dwelling-house
separate from a farm), in Scotland, in respect
of the occupancy, 2^d.
Schedule C. — (Public Funds.) On each 20s. of
annual amount of profits from interest, an-
nuities, dividends, and shares of annuities,
payable out of the public revenue, 6d. .
Schedule D. — (Trades and Professions.) On each
20s. of annual amount of gains, profits, or re-
turns, from trades, professions, employments,
or vocations, or from personal or other property
not included in schedules A, B, 0, or E, 6d.
Schedule E. — (Public Salaries.) On each 20s. of
annual amount of salaries, pensions, or an-
nuities paid out of the public revenue, or for
public offices or employments, 6d.
Exemption and Abatement. — Under the Act 39
Vict. c. 16. § 8, persons whose whole incomes
from every source are less than £150 a year are
exempted. Persons whose incomes amount to
£150 a year, but to less than £400 a year, are
entitled to an abatement equal to the duty
upon £120 of their income.
Deductions. — Deduction is allowed, when
claimed, of any annual premium (not exceeding
one-sixth part of the claimant's income from
every source) paid for insurance, or deferred
annuity, on the claimant's own or his wife's
life, to any insurance company in existence on
1st November 1844, or registered pursuant to
Act 7 and 8 Vict. c. 110 ; or of any annual pay-
ment made under Act of Parliament to a
widows' or children's fund.
By 41 Vict. c. 15, § 12, provision is made for
deduction for diminished value by wear and
tear of machinery or plant used in any trade,
manufacture, adventure, etc., the profits or
gains of which are chargeable under the rules
of schedule D.
By the Act 19 and 20 Vict. c. 80, landlords in
Scotland are entitled to relief (either by abate-
ment or by repayment) from any amount of
income tax which may be assessed upon them
in respect of the annual value of such rates,
taxes, assessments, and public burdens, as may
be charged upon them and not charged upon
landlords in England.
Occupiers of lands for the purposes of husbandry
only are entitled, on proof to the satisfaction
of the commissioners, to an abatement of duty
proportionate to the deficiency of their profits
or gains. (13 and 14 Vict. c. 12; 16 and
17 Vict. c. 34, § 46 ; 43 and 44 Vict. c. 20,
§52.)
Person sustaining loss in any trade or pro-
fession carried on by him, either solely or in
partnership, or in farming of lands, may, on '
application to the commissioners through the
district surveyor of taxes within six months
after the year of assessment, obtain repayment
of so much of the Income Tax on his aggregate
income as represents the tax on income equal
to his loss. (53 Vict. c. 8, § 23.)
Bates of Property and Income Tax per £
on Incomes of £150 and upwards.
Abatement of £120 on Incomes under £400.
Year ending
Under Schedules
Under Schedule
5th April.
A, C, D, & E.
B (Scotland).
1881
6d.
2£d.
1882
5d.
lfd.
1883
6,Jd;
2|d.
1884
5d.
lfd.
1885
6d.
2 T Vd.
1886
8d.
3d.
1887
8d.
3d.
1888
7d.
2id.
1889
6d.
24d.
1890
6d.
2Jd.
1891
6d.
2Jd.
1892
Gd.
2Jd.
DEDUCTION OF INCOME TAX.
1. Dividends and interest from the public funds,
foreign loans, foreign or colonial companies, in-
terest of money borrowed ou the security of rates,
and official salaries and pensions, are subject to
deduction of Income Tax at the rate in force at
the date of payment.
2. Mortgage interest, feu-duties, and ground
annuals are subject to deduction of Income Tax
at the rate or rates in force during the period in
which they have been accruing.
Note. — No. 2 forms a guide for the deduction of
Income Tax from dividends or interest payable
out of the profits or gains of public companies in
the United Kingdom.