§ 56 and 57. Mr. LUNNasked the Chancellor of the Exchequer (1) whether a number of armament companies have not yet paid Excess Profits Tax in respect of the years up to 1918 owing to delay in adjusting accounts; if so, what is the estimated amount so outstanding in respect of these armament companies;
(2) what is the estimated total amount outstanding of unpaid Excess Profits Tax for the years preceding 1918; whether interest is charged on the Excess Profits Tax which has not been paid promptly owing to the difficulties of adjusting accounts; and, if not, whether he will consider the advisabiblity of charging interest on un paid Excess Profits Tax, from the continued possession of which certain companies derive considerable profit?
Mr. CHAMBERLAINThe estimated amount of Excess Profits Duty and Munitions Levy in assessment, but unpaid, in respect of accounting periods ending prior to the 1st January, 1918, is £58,000,000. Payment of a considerable portion of this amount is, however, suspended pending the settlement of appeals arid other questions which cannot yet be determined, and it may be anticipated that upon the final adjustment of liabilities the total figure in assessment will be substantially reduced. A separate figure for armament firms is not available. Interest is not chargeable upon Excese Profits Duty in arrear, but in this connection I would refer to my statement in the course of the-Debate on the financial position on the 29th October.