{
  "url": "https://openlegislation.uk/finance-act-1940/schedule-Sixth./paragraph-4",
  "json_url": "https://openlegislation.uk/finance-act-1940/schedule-Sixth./paragraph-4.json",
  "legislation": "ukpga/Geo6/3-4/29",
  "legislation_title": "Finance Act 1940",
  "legislation_url": "https://openlegislation.uk/finance-act-1940",
  "path": "schedule/Sixth./paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "Where, for any period, excess profits tax would be assessable if there were no national defence contribution assessable and the national defence contribution would be assessable if there were no excess profits tax assessable, the Commissioners may, notwithstanding anything in section nineteen of the Finance (No. 2) Act, 1939, make an assessment either to excess profits tax or to the national defence contribution, or assessments both to excess profits tax and to the national defence contribution; and where the Commissionrs make an assessment by virtue of this paragraph, they may, if they think fit, discharge the whole or any part of any assessment already made for that period (whether or not confirmed on appeal) and, to the extent that any tax so discharged has already been paid, shall treat the amount of that tax as paid on the new assessment:\nProvided that nothing in this paragraph shall authorise the making of any assessment to excess profits tax or to the national defence contribution so that the amount thereof, together with the amount of any subsisting assessment for the period (whether to excess profits tax or the national defence contribution) exceeds—\n(i) the amount of excess profits tax which would be assessable for that period if no national defence contribution were assessable therefor; or\n(ii) the amount of the national defence contribution which would be assessable for that period, if no excess profits tax were assessable therefor,\nwhichever is the higher.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/Geo6/3-4/29/schedule/Sixth./paragraph/4",
    "retrieved_at": "2026-10-29T11:31:12.189827+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}