HC Deb 05 July 1917 vol 95 c1291
65. Mr. FELL

asked at what rate interest is to be calculated for the purposes of Super-tax on the Four per Cent. War Loan issued free of Income Tax; and, as an example, what will be the return for Super-tax purposes of the income from an investment of £10,000 in this loan yielding an income of £400 free of Income Tax?


As stated in the War Loan prospectus, income derived from dividends on the £4 per Cent. War Loan, 1929–1942, will be treated, for the purposes of Super-tax, "as if the amount received represented the net income after deduction of Income Tax at the full n9rmal rate." For the present year the full normal rate of Income Tax is 5s. in the £ and, therefore, a net dividend of £400 should be returned for purposes of assessment to Super-tax at £533 6s. 8d.