SIR UGHTRED KAY-SHUTTLEWORTH (Lancashire, N.E.,) ClitheroI beg to ask the Chancellor of the Exchequer whether it is the fact that, under the provisions of the Act passed in 1855, surveyors of taxes are justified in refusing to allow a deduction from the payment of Income Tax in respect of 991 insurance premiums which are paid at shorter periods than every three months; and if, considering the number of persons in humble circumstances who effect their life insurances on the condition of weekly premiums, he will consider whether there is any good reason for maintaining this disability, and insisting on quarterly, half-yearly, or yearly payments of premiums as a condition of their deduction from Income Tax?
§ * THE CHANCELLOR OF THE EXCHEQUER (Mr. GOSCHEN,) St. George's, Hanover SquareSurveyors of Income Tax are justified by law in refusing deductions in respect of insurance premiums paid at shorter periods than every three months. It is doubtful whether persons in "humble circumstances" are affected by this restriction at all, as the hon. Member will recollect that no Income Tax is paid on incomes under £150 per annum. I am informed, moreover, that it would be very difficult to check claims for allowances in respect of "weekly premiums."