HC Deb 04 August 1906 vol 162 c1802

I beg to ask Mr. Chancellor of the Exchequer whether his attention has been drawn to a decision of the House of Lords to the effect that companies whoso office is in the United Kingdom, and whose property is situated in foreign countries or in other parts of the British Empire, are liable to pay Income Tax in this country as well as where their property is situated; whether he has considered the probable loss of business to this country which this decision may entail; and whether he proposes to take any steps in the matter.


The decision in question laid down no new principle, and was in accordance with the current of authority for the last thirty years. The Question which arose, and which was anwered in the affirmative, was, whether, upon the facts stated, the company was "resident" within the United Kingdom for the purposes of the Income Tax Acts. I see no reason to think that this judgment, which involved no alteration in the existing law and practice, will produce injurious effects; and I do not propose to take any steps in the matter.