72. Mr. T. WILSON
asked the Chancellor of the Exchequer whether he is 173 aware that, under a recommendation of the Coal Industry Commission, miners received during April last arrears of pay for work done in the previous financial year; whether this sum will be reckoned as part of this year's income; and whether, in view of the fact that to reckon it as part of this year's income in the case of a man whose income last year was under the Income Tax limit will work hardship, ho will give instructions that this particular sum shall be regarded as income for the previous year?
The arrears of pay to which the hon. Member refers are regarded for Income Tax purposes as earnings of the quarter in respect of which they accrued —i.e., the quarter ended 5th April last —and will not be reckoned as part of this year's income.
§ 73. Mr. MURCHISON
asked the Chancellor of the Exchequer whether any stops can be taken to prevent the loss of revenue to the Treasury caused by a large number of people who are not ordinarily resident in this country investing their money in War Loan for the sole purpose of avoiding the payment of Income Tax?
The exemption in question is one of the privileges given under the terms of certain war issues, and there can, of course, be no question of depriving holdersof such issues of their prospectus rights.