# Finance (No. 2) Act 1945, Section 48: Payment of refunds out of Consolidated Fund.


(1) Such sums as are required by the Commissioners of Inland Revenue for the purpose of making payments of, or on account of, post-war refunds shall be issued to the Commissioners out of the Consolidated Fund of the United Kingdom . . . .
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) Notwithstanding anything in sub-paragraph (2) of paragraph 1 of Part II of the Seventh Schedule to the Finance (No. 2) Act, 1939, in computing the amount of the capital employed in a trade or business for the purposes of excess profits tax no deduction shall be made from the price of any asset on the ground that it was acquired wholly or partly out of a sum paid for or on account of a post-war refund and that that sum was, by virtue of this section, contributed out of the Consolidated Fund.

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Source: https://www.legislation.gov.uk/ukpga/Geo6/9-10/13/section/48 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-1945/section-48
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.