§ MR. HUBBARD (Lambeth, Brixton)
I beg to ask Mr. Chancellor of the Exchequer whether, in the event of the income tax being raised to 1s. in the £ as from 1st April next, the rate of tax payable upon interest or dividends which have accrued for the year ending 31st March, 1900, but are not actually paid out till after that date, remains at 8d. in the £ and whether the tax payable upon interest or dividends accrued for the first six months of 1900 will be at the rate of 8d. for the first three months, and 1s. for the second three months, and for other periods in proportion.
§ SIR M. HICKS BEACH
Assuming that the question relates to the dividends of English companies, the answer to both paragraphs is in the affirmative (but the date on which the alteration of the rate will take effect is April 6th, not the 1st). The Inland Revenue will in a few days issue full instructions explaining the rules to be followed in deducting income tax in all cases.