Ed Davies said:
> Yes, I think that's right. And, as I understand it, we still keep
> that change of year in mid-month but now it's on April 5th for the
> change of tax year. When we switched from the Julian to the Gregorian
> calendar the tax year was kept the same length so its date changed.
That was another requirement of the legislation:
====
Provided also, and it is hereby further declared and enacted,
That nothing in this present Act contained shall extend, or be construed to
extend, to accelerate or anticipate the Time of Payment of any Rent or
Rents, Annuity or Annuities, or Sum or Sums of Money whatsoever, which
shall become payable by Virtue or in Consequence of any Custom, Usage,
Lease, Deed, Writing, Bond, Note, Contract or other Agreement whatsoever,
now subsisting, or which shall be made, signed, sealed or entred into, at
any Time before the said 14th Day of September, or which shall become
payable by virtue of any Act or Acts of Parliament now in Force, or which
shall be made before the Said 14th Day of September, or the Time of doing
any Matter or Thing directed or required by any such Act or Acts of
Parliament to be done in relation thereto;
or to accelerate the Payment of, or increase the Interest of, any such Sum
of Money which shall become payable as aforesaid;
or to accelerate the Time of the Delivery of any Goods, Chattles, Wares,
Merchandize or other Things whatsoever;
or the Time of the Commencement, Expiration or Determination of any Lease
or Demise of any Lands, Tenements or Hereditaments, or of any other
Contract or Agreement whatsoever; or of the accepting, surrendering or
delivering up the Possession of any such Lands, Tenements or Hereditaments;
or the Commencement, Expiration or Determination of any Annuity or Rent; or
of any Grant for any Term of Years, of what Nature or Kind soever, by
Virtue or in Consequence of any such Deed, Writing, Contract or Agreement;
[...]
but that
all and every such Rent and Rents, Annuity and Annuities, Sum and Sums of
Money, and the Interest thereof, shall remain and continue to be due and
payable;
and the Delivery of such Goods and Chattles, Wares and Merchandize, shall
be made;
and the said Leases and Demises of all such Lands, Tenements and
Hereditaments, and the said Contracts and Agreements, shall be deemed to
commence, expire and determine;
and the said Lands, Tenements and Hereditaments shall be accepted,
surrendered and delivered up;
and the said Rents and Annuities, and Grants for any Term of Years, shall
commence, cease and determine,
at and upon the same respective natural Days and Times, as the same should
and ought to have been payable or made, or would have happened, in case
this Act had not been made;
and that no further or other Sum shall be paid or payable for the Interest
of any Sum of Money whatsoever, than such Interest shall amount unto, for
the true Number of natural Days for which the principal Sum bearing such
Interest shall continue due and unpaid;
====
In other words, all financial matters are to be done by day count and not
by calendar date.
--
Clive D.W. Feather | Work: <clive_at_demon.net> | Tel: +44 20 8495 6138
Internet Expert | Home: <clive_at_davros.org> | Fax: +44 870 051 9937
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THUS plc | |
Received on Thu Jun 08 2006 - 01:18:22 PDT