HC Deb 24 April 1923 vol 163 cc274-5
56. Mr. HANNON

asked the Chancellor of the Exchequer whether he can have a statement prepared showing the arrears in Income Tax, Super-tax, Corporation Profits Tax, and Excess Profits Tax as at the 31st March, 1922, and the 31st March, 1923?

Mr. BALDWIN

As the answer contains a number of figures, I will, with my hon. Friend's permission, circulate it in the OFFICIAL REPORT.

Following are the figures referred to:

The approximate amounts of Income Tax and Super-tax estimated to be due to be paid, but not paid by the 31st March, 1922, and 31st March, 1923, respectively, were as follows:

Income Tax, excluding the instalment due on 1st July:
£
31st March, 1922 99,000,000
31st March, 1923 68,000,000
Super-tax:
£
31st March, 1922 23,500,000
31st March, 1923 23,000,000
The difference of £3,000,000 in these figures, compared with the figures given in my speech in the House on the 18th April, arises on Super-tax, and represents arrears of 1922–23 liabilities which were not assessed at 31st March last, but will be assessed in the early months of the current financial year.

Analogous figures are not available for the other duties mentioned, but the approximate amounts in assessment, but unpaid (less sums shown due to be remitted), were as shown below. It will be understood that these arrears do not represent finally ascertained liabilities. In the case of Excess Profits Duty especially, large sums are subject to adjustment on appeal or otherwise, and the duty to be ultimately received by the Exchequer will fall far short of the amount stated.

Excess Profits Duty:
£
31st March, 1922 294,000,000
31st March, 1923 213,000,000