LegalizeFINANCE ACT, 1964
This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.
14 amending acts · 2008-03-13, Finance Act 2008
- (2)
- (a) The enactment specified in column (2) of Part II of the Fifth Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.
- (b) Paragraph (a) of this subsection shall be deemed to have come into operation on the 15th day of April, 1964.
- (3) Each enactment specified in column (2) of Part III of the Fifth Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.
- (4)
- (a) Each enactment specified in column (2) of Part IV of the Fifth Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.
- (b) Paragraph (a) of this subsection shall come into operation on the 1st day of August, 1964, or the date of the passing of this Act, whichever is the later.
34 Care and management of taxes and duties.
34.—All taxes and duties imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.
35 Short title, construction and commencement.
35.—(1) This Act may be cited as the Finance Act, 1964.
- (2) Part I and (so far as relating to income tax, including surtax) sections 30 and 31 of this Act and the First Schedule to this Act shall be construed together with the Income Tax Acts.
- (3) Part II of this Act, so far as it relates to duties of customs, shall be construed together with the Customs Acts and, so far as it relates to duties of excise, shall be construed together with the Statute which relates to the duties of excise and the management of those duties.
- (4) Part IV of this Act shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.
- (5) Part V and (so far as relating to corporation profits tax) sections 30 and 31 of this Act shall be construed together with Part V of the Finance Act, 1920, and the enactments amending or extending that Part.
- (6) Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment, including this Act.
- (7) Part I of this Act shall be deemed to have come into force and shall take effect as on and from the 6th day of April, 1964.
- (8) Section 28 of this Act shall come into operation on such day as the Minister for Finance appoints by order.
FIRST SCHEDULE Reliefs in respect of Tax under Section 8.
Preliminary.
The reference to relief in section 17 of the Income Tax Act, 1918, shall be construed as including a reference to relief under this Schedule.
Relief by reduction of sums chargeable.
In computing the charge to tax in respect of a payment chargeable to tax under section 8 of this Act, not being a payment of compensation for loss of office, there shall be deducted from the payment a sum equal to the amount (if any) by which the standard capital superannuation benefit for the office or employment in respect of which the payment is made exceeds three thousand pounds.
In this Schedule “the standard capital superannuation benefit”, in relation to an office or employment, means a sum arrived at as follows, that is to say—
- (a) there shall be ascertained the average for one year of the holder's emoluments of the office or employment for the last three years of his service before the relevant date (or for the whole period of his service if less than three years);
- (b) one-twentieth of the amount ascertained at (a) shall be multiplied by the whole number of complete years of the service of the holder in the office or employment; and
- (c) there shall be deducted from the product at (b) a sum equal to the amount, or, as the case may be, to the value at the relevant date, of any lump sum (not chargeable to tax) received or receivable by the holder in respect of the office or employment in pursuance of any such scheme or fund as is referred to in paragraph (d) of subsection (1) of section 9 of this Act:
Provided that no account shall be taken for the purposes of this paragraph of the service of any person as an officer or employee of a body corporate at any time while he was a proprietary director or proprietary employee (as defined by section 31 of the Finance Act, 1958) of that body.
Where tax is chargeable under section 8 of this Act in respect of two or more payments to which paragraph 3 of this Schedule applies, being payments made to or in respect of the same person in respect of the same office or employment or in respect of different offices or employments held under the same employer or under associated employers, then—
- (a) the said paragraph 3 shall apply as if those payments were a single payment of an amount equal to their aggregate amount and, where they are made in respect of different offices or employments, as if the standard capital superannuation benefit were an amount equal to the sum of the standard capital superannuation benefits for those offices or employments;
- (b) where the payments are treated as income of different years of assessment, the relief to be granted under that paragraph in respect of a payment chargeable for any year of assessment shall be the amount by which the relief computed in accordance with the foregoing provision in respect of that payment and any payments chargeable for previous years of assessment exceeds the relief in respect of the last-mentioned payments;
and where the standard capital superannuation benefit for an office or employment in respect of which two or more of the payments are made is not the same in relation to each of those payments, it shall be treated for the purposes of this paragraph as equal to the higher or highest of those benefits.
In computing the charge to tax in respect of a payment chargeable to tax under section 8 of this Act, being a payment made in respect of an office or employment in which the service of the holder includes foreign service and not being a payment of compensation for loss of office, there shall be deducted from the payment (in addition to any deduction allowed under the foregoing provisions of this Schedule) a sum which bears to the amount which would be chargeable to tax apart from this paragraph the same proportion as the length of the foreign service bears to the length of the service before the relevant date.
Relief by reduction of tax.
In the case of any payment in respect of which tax is chargeable under section 8 of this Act, the following relief shall be allowed by way of deduction from the tax chargeable by virtue of that section, that is to say, there shall be ascertained—
- (a) the amount of tax which would be chargeable apart from this paragraph in respect of the income of the holder or past holder of the office or employment for the year of assessment of which the payment is treated as income;
- (b) the amount of tax which would be so chargeable if the payment had not been made;
- (c) the difference between the respective amounts of tax which would be so chargeable on the assumptions—
- (i) that the appropriate fraction only of the payment (after deducting any relief applicable thereto under the foregoing provisions of this Schedule) had been made; and
- (ii) that no part of the payment had been made; and disregarding, in each case, any other emoluments of the office or employment;
and the amount to be deducted shall be the difference between the amount ascertained at (a) and the sum of the amount ascertained at (b) and the appropriate multiple of the difference ascertained at (c).
Where the income of the holder or past holder of the office or employment for the year of assessment of which the payment is treated as income includes income, tax on which he is entitled to charge against any other person, or to deduct, retain or satisfy out of any payment which he is liable to make to any other person, the amounts referred to in subparagraphs (a) to (c) of paragraph 7 of this Schedule shall be calculated as if that tax were not chargeable in respect of that income.
In this Schedule “the appropriate fraction” and “the appropriate multiple”, in relation to any payment, mean respectively—
- (a) where the payment is not a payment of compensation for loss of office, one-sixth and six;
- (b) where the payment is a payment of compensation for loss of office, one divided by the relevant number of years of unexpired service, and that number of years;
and for the purposes of this paragraph “the relevant number of years of unexpired service” means the number of complete years taken into account in calculating the amount of the payment, being years for which the holder of the office or employment would have been entitled (otherwise than by virtue of arrangements made in contemplation of his retirement or removal or of any relevant change in the functions or emoluments of the office or employment) to retain the office or employment or its full emoluments, and where the period taken into account as aforesaid is less than one complete year or exceeds an exact number of years, it shall be treated for the purposes of this paragraph as one complete year or as the next higher number of complete years, as the case may be.
Where tax is chargeable under section 8 of this Act in respect of two or more payments to or in respect of the same person in respect of the same office or employment and is so chargeable for the same year of assessment, those payments shall be treated for the purposes of paragraph 7 of this Schedule as a single payment of an amount equal to their aggregate amount:
Provided that where the appropriate fraction and appropriate multiple are not the same for each of the payments, the calculations of relief under the said paragraph 7 shall be made separately in relation to each payment or payments having a different appropriate fraction and multiple, and in any such calculation—
- (a) any payment for which the appropriate multiple is lower shall be left out of account for all the purposes, of the said paragraph 7; and
- (b) in ascertaining the difference at (c) of that paragraph, it shall be assumed that the appropriate fraction only of any payment for which the appropriate multiple is higher has been made;
and the relief to be allowed shall be the sum of the reliefs so calculated in respect of the payments respectively.
Where tax is chargeable under section 8 of this Act in respect of two or more payments to or in respect of the same person in respect of different offices or employments, and is so chargeable for the same year of assessment, paragraphs 7 to 10 of this Schedule shall apply as if those payments were made in respect of the same office or employment and as if any emoluments of any of those offices or employments were emoluments of the same office or employment.
Supplemental.
In this Schedule “payment of compensation for loss of office” means a payment made—
- (a) in pursuance of an order of a court in proceedings for wrongful dismissal or otherwise for breach of a contract of employment, or by way of settlement of such proceedings or of a claim in respect of which such proceedings could have been brought; or
- (b) by way of compensation for the extinguishment of any right the infringement of which would be actionable in such proceedings;
and any question whether, and to what extent, a payment is or is not a payment of compensation for loss of office shall be determined according to all the circumstances and not (or not exclusively) by reference to the terms on which it is expressed to be made.
Any reference in this Schedule to the emoluments of an office or employment is a reference to those emoluments exclusive of any payment chargeable to tax under section 8 of this Act; and in calculating for any purpose of this Schedule the amount of such emoluments—
- (a) there shall be included any balancing charge to which the holder of the office or employment is liable under section 34 of the Finance Act, 1959;
- (b) there shall be deducted any allowances under Rule 6 of the Rules applicable to Cases I and II of Schedule D or section 34 of the Finance Act, 1959, and any allowance under Rule 9 of the Rules applicable to Schedule E, section 32 of the Finance Act, 1921, or section 38 of the Finance Act, 1958, to which he is entitled;
and any such charges or allowances as aforesaid for a year of assessment shall, for the purposes of ascertaining the amount of the emoluments for any year of service, be treated as accruing from day to day, and shall be apportioned in respect of time accordingly.
In this Schedule “the relevant date” means, in relation to a payment not being a payment in commutation of annual or other periodical payments, the date of the termination or change in respect of which it is made and, in relation to a payment in commutation of annual or other periodical payments, the date of the termination or change in respect of which those payments would have been made.
In this Schedule “foreign service”, in relation to an office or employment, means service such that—
- (a) tax was not chargeable in respect of the emoluments of the office or employment, or
- (b) the office or employment being an office or employment within Schedule E, tax under that Schedule was not chargeable in respect of the whole of the emoluments thereof, or
- (c) the office or employment being regarded as a possession in a place out of the State within the meaning of Case III of Schedule D, tax in respect of the income arising therefrom did not fall to be computed in accordance with Rule (1) of the Rules contained in Part II of the First Schedule to the Finance Act, 1929.
Any reference in this Schedule to the amount of tax to which a person is or would be chargeable is a reference to the amount of tax to which he is or would be chargeable either by assessment or by deduction.
SECOND SCHEDULE. Spirits (Rates of Ordinary Customs Duty).
| Description of Spirits | Preferential Rates | Preferential Rates | Preferential Rates | Full Rates | Full Rates | Full Rates |
| (1) | (2) | (2) | (2) | (3) | (3) | (3) |
| £ | s. | d. | £ | s. | d. | |
| For every gallon of Perfumed Spirits | 17 | 13 | 10 | 17 | 17 | 10 |
| For every gallon of liqueurs, cordials, mixtures and other preparations in bottle entered in such manner as to indicate that the strength is not to be tested | 14 | 18 | 7 | 15 | 1 | 11 |
| For every gallon computed at proof of spirits of any description not heretofore mentioned and mixtures and preparations containing spirit | 11 | 1 | 2 | 11 | 3 | 8 |
THIRD SCHEDULE. Duties on Tobacco.
Part I.
Customs.
| £ | s. | d. | |||||
| Unmanufactured:— | Unmanufactured:— | Unmanufactured:— | Unmanufactured:— | ||||
| if stripped or stemmed:— | if stripped or stemmed:— | if stripped or stemmed:— | if stripped or stemmed:— | ||||
| containing 10 per cent or more by weight of moisture | containing 10 per cent or more by weight of moisture | containing 10 per cent or more by weight of moisture | the lb. | the lb. | 3 | 0 | 0½ |
| containing less than 10 per cent by weight of moisture | containing less than 10 per cent by weight of moisture | containing less than 10 per cent by weight of moisture | ” | ” | 3 | 6 | 8½ |
| if unstripped or unstemmed:— | if unstripped or unstemmed:— | if unstripped or unstemmed:— | |||||
| containing 10 per cent or more by weight of moisture | containing 10 per cent or more by weight of moisture | containing 10 per cent or more by weight of moisture | ” | ” | 3 | 0 | 0 |
| containing less than 10 per cent by weight of moisture | containing less than 10 per cent by weight of moisture | containing less than 10 per cent by weight of moisture | ” | ” | 3 | 6 | 8 |
| Full | Full | Full | Preferential | Preferential | Preferential | ||
| Manufactured:— | £ | s. | d. | £ | s. | d. | |
| Cigars | the lb. | 3 | 16 | 0 | 3 | 3 | 4 |
| Cigarettes | ” | 3 | 13 | 6 | 3 | 1 | 3 |
| Cavendish or Negrohead | ” | 3 | 15 | 0 | 3 | 2 | 6 |
| Cavendish or Negrohead manufactured in bond | ” | 3 | 14 | 6 | 3 | 2 | 1 |
| other manufactured tobacco | ” | 3 | 13 | 0 | 3 | 0 | 10 |
| snuff containing more than 13 per cent by weight of moisture | 3 | 13 | 0 | 3 | 0 | 10 | |
| snuff not containing more than 13 per cent by weight of moisture | ” | 3 | 15 | 0 | 3 | 2 | 6 |
Part II.
Excise.
| £ | s. | d. | ||
| Unmanufactured:— | ||||
| containing 10 per cent or more by weight of moisture | the lb. | 2 | 18 | 11 |
| containing less than 10 per cent by weight of moisture | ” | 3 | 5 | 5½ |
| Manufactured:— | ||||
| Cavendish or Negrohead manufactured in bond | ” | 3 | 0 | 11 |
FOURTH SCHEDULE. Rates of Firearm Certificate Duty.
| £ | s. | d. | |
| 1. For a firearm certificate for a pistol, including an air pistol, or revolver | 10 | 0 | |
| 2. For a firearm certificate for a rifle, including a miniature rifle | 1 | 0 | 0 |
| 3. For a firearm certificate for an airgun, including an air rifle | 1 | 0 | 0 |
| 4. For a firearm certificate for a prohibited weapon | 10 | 0 | |
| 5. For a firearm certificate for a shot-gun to which the provisions of section 12 of the Firearms Act, 1964, apply | 10 | 0 | |
| 6. For any other firearm certificate— | |||
| For one such certificate | 2 | 5 | 0 |
| Where two or more such certificates are granted to the same person (not necessarily at the same time) and expire on the same date— | |||
| For the first such certificate | 2 | 5 | 0 |
| For the second and every subsequent such certificate | 10 | 0 |
FIFTH SCHEDULE. Enactments Repealed.
Part I.
| (1) | (2) | (3) |
| Number and Year | Short Title | Extent of Repeal |
| No. 15 of 1951. | Finance Act, 1951. | Section 4. |
Part II.
| (1) | (2) | (3) |
| Number and Year | Short Title | Extent of Repeal |
| No. 14 of 1940. | Finance Act, 1940. | Subsection (4) of section 17. |
Part III.
| (1) | (2) | (3) |
| Session and Chapter or Number and Year | Short Title | Extent of Repeal |
| 26 & 27 Vict., c. 7. | Manufactured Tobacco Act, 1863. | In section 4: the words “whether imported and warehoused as such or”, conditions 1 to 4, the words “, wrapping, and labelling” in condition 6 and the words “, wrapped, labelled,” in condition 8; sections 6, 7 and 8; in section 9, the words “nor shall any cavendish or negrohead tobacco be imported into Great Britain and Ireland, except to be warehoused in the first instance in some warehouse approved by the Commissioners of Customs for security of duties of customs on tobacco;” and the words “, or being imported shall not be forthwith duly entered and warehoused,”. |
| No. 28 of 1935. | Finance Act, 1935. | Paragraph (c) of subsection (8) of section 21. |
| No. 23 of 1963. | Finance Act, 1963. | Section 45. |
Part IV.
| (1) | (2) | (3) |
| Session and Chapter | Short Title | Extent of Repeal |
| 54 & 55 Vict., c. 39. | Stamp Act, 1891. | Sections 79, 80 and 90. |
| 62 & 63 Vict., c. 9. | Finance Act, 1899. | Section 9. |
| 7 Edw. 7, c. 13. | Finance Act, 1907. | Section 9. |
| 9 Edw. 7, c. 43. | Revenue Act, 1909. | Section 9. |
| 10 & 11 Geo. 5, c. 18. | Finance Act, 1920. | Section 35. |
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