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Post-war credits

07 November 2007 / John Jeffrey-cook
Issue: 4133 / Categories: Comment & Analysis , Income Tax
It could be worth checking in case your clients still have any post-war credits. JOHN JEFFREY-COOK explains


  • Forced savings to meet cost of war advocated by Keynes.
  • Promise to pay at end of war not kept.
  • Repayments made first to elderly and deserving cases.
  • Certificates found now are payable if claim not already made.

In the recent tax law history issue of British Tax Review Professor John Tiley regrets that much of our tax history is being forgotten and politicians may re-invent the wheel or just change it without the benefit of experience. He admits that 'post-war credits may not excite much enthusiasm' but this is surely true of all tax topics.

Wood Churchill's Chancellor

Nineteen months into the Second World War Sir Kingsley Wood the Chancellor appointed by Churchill opened his second Budget on 7 April 1941. He increased the standard rate of income...

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