HC Deb 22 May 1911 vol 26 c28

asked the Chancellor of the Exchequer whether he is aware that it is customary amongst a certain class of solicitors and moneylenders in South Wales to compel mortgagees to pay Income Tax on their mortgage, and to threaten to foreclose the bond unless they do so; and what steps he proposes taking to put an end to this practice?

The CHANCELLOR of the EXCHEQUER (Mr. Lloyd George)

I assume the word mortgagee is a misprint. I beg. to refer the hon. Member to Section 103 of the Income Tax Act, 1842, and to Section 40 of the Income Tax Act, 1853, which provide for the payment of tax by the mortgagee through the instrumentality of a deduction of the amount by the mortgagor from the interest which he pays.


The misprint was due to my bad handwriting.