§ 24. Mr. HOAREasked the Chancellor of the Exchequer whether certain insurance companies are allowed to pay annuities without deducting Income Tax, whilst other insurance companies are compelled to deduct Income Tax; and, if so, what is the reason for this differentiation, and which are the companies that are allowed to pay the annuities without the deduction?
§ The CHANCELLOR of the EXCHEQUER (Mr. Lloyd George)The matter referred to by the hon. Member is being considered with a view to discontinuing the practice by which certain American companies have been allowed to pay annuities in full, tax being subsequently assessed direct on liable recipients.
§ Mr. HOAREWill the right hon. Gentleman give me the names of the com-panics that have this privilege?
§ Mr. LLOYD GEORGEIf the hon. Gentleman puts that question down I shall see if it can be done.