HC Deb 07 July 1914 vol 64 cc871-3
20. Mr. DOUGLAS HALL

asked whether interest will be paid on the excess of Income Tax paid under the original proposals of the Budget as compared with the new rate of Income Tax, or whether he is prepared to allow any sum as interest to those persons who are willing that the excess payments should be treated as payment in advance for next year?

Mr. LLOYD GEORGE

The answer to both parts of the question is in the negative.

21. Mr. GODFREY LOCKER-LAMPSON

asked whether there will be any opportunity of discussing the present injustice of only allowing two-thirds of the rent or annual value when the proprietor resides on the premises when calculating the liability to Income Tax, Schedule D?

Mr. LLOYD GEORGE

I fear I can add nothing to the reply which I gave yesterday in answer to a similar question by the hon. Member.

Mr. G. LOCKER-LAMPSON

Has the right hon. Gentleman received any representations as to the great dissatisfaction caused by the present system?

Mr. LLOYD GEORGE

I do not know that I have received any representations recently.

22. Mr. G. LOCKER-LAMPSON

asked the Chancellor of the Exchequer if he will say what arrangements will be made to repay the excess Income Tax in cases where interim dividends have been received from which tax at 1s. 4d. in the £ has been deducted, having regard to the fact that the company will not pay the tax to the Inland Revenue authorities for the year 1914–15 until early in 1915?

Mr. LLOYD GEORGE

The question of adjustment is one for settlement between the company and its shareholders, but suggestions for dealing with it are contained in the circular letter now issued by the Board of Inland Revenue.

Mr. G. LOCKER-LAMPSON

Will the right hon. Gentleman say whether the Board of Inland Revenue will repay the excess before they receive the tax from the company?

Mr. LLOYD GEORGE

No, not until they have paid the amount over.

Mr. G. LOCKER-LAMPSON

Will not the taxpayer very often be out of his money until the early part of next year?

Mr. LLOYD GEORGE

I do not think so.

27. Mr. G. LOCKER-LAMPSON

asked the Financial Secretary to the Treasury whether he can give any estimate of the cost to the Exchequer if the exemption from Income Tax in respect of rents and profits of lands, etc., belonging to any charity were extended to apply to any property in the occupation of a charity?

The FINANCIAL SECRETARY to the TREASURY (Mr. Montagu)

I regret that I am unable to give any definite estimate of the cost of an extension of the exemption on the lines indicated.

Mr. G. LOCKER-LAMPSON

Cannot the Inland Revenue authorities very easily get figures from the claims for repayment?

Mr. MONTAGU

I consulted the Inland Revenue authorities before giving the reply, which I felt sure the hon. Member would find unsatisfactory, and that is all the information I can give.