Mr. PIKE PEASEasked the Chancellor of the Exchequer whether he would state the reason why some half-yearly dividends on inscribed stocks payable at this period of the year are debited with Income Tax at 1s. 2d. in the £, and other stocks, on which dividends are payable at the same time and for the same period, are debited at 1s. Id. only in the £ in respect of Income Tax; and would he state in what way the amounts which have been received in excess of the legal rate are dealt with?
§ Mr. HOBHOUSEThe difference in the rate may be due to the different nature of the stock. I will forward to the hon. Member a copy of the printed Memorandum on the subject issued by the Board of Inland Revenue, which will, I think, make the matter clear to him.