§ GENERAL SIR GEORGE BALFOUR (Kincardine)asked the Secretary to the Treasury Where information can be found, in the Finance Accounts or elsewhere, as to the amounts of the several classes of the Terminable Annuities subject to the Income Tax on capital and interest, and not subject thereto; also the annuities of the several classes held by the public, by the National Debt Commissioners, and by others; and, if the information is not available will he supply it?
§ THE SECRETARY (Mr. JACKSON) (Leeds, N.)Income Tax is only payable in respect of Terminable Annuities held by the public, not in respect of Terminable Annuities in the hands of the National Debt Commissioners. The Annuities held by the public at March 31, 1887, comprise Life Annuities, Annuities for terms of years, and Exchequer or Tontine Annuities, and amount to £1,082,780. The several amounts are stated in the Finance Accounts for 1886–7 at page 44. Income Tax is also paid on £1,200,000 a-year of the Chancery Fund Annuity, stated at page 45 of the Finance Accounts, £1,200,000 a-year being the interest on the £40,000,000 cancelled in exchange for the Annuity, and being paid over for distribution among the persons to whom the stock belonged.