§ Mr. COXasked the Chancellor of the Exchequer whether he was aware that difficulties had arisen with regard to the interpretation of section 24, sub-section (3), of the Customs and Inland Revenue Act of 1888 with regard to the deduction of Income Tax from dividends and interest; and if he could state whether on dividends for the half-year ending 30th June Income Tax should be deducted at the rate of 1s. 2d. or at the rate of 1s. 1d.?
§ Mr. HOBHOUSEMy right hon. Friend is not aware that difficulties have arisen in this connection. I propose, for the convenience of my hon. Friend, to send him a copy of a Memorandum in regard to the deduction of Income Tax, which will, I think, remove any doubts which he may feel on the subject.
Captain CRAIGIs the right hon. Gentleman aware that the Bank of England have sent out dividend warrants calculated at varying rates? Could not a universal rate be settled by the Treasury?
§ Mr. HOBHOUSEIf the hon. Gentleman puts a question on the Paper I will make inquiry.