HC Deb 08 May 1923 vol 163 c2151
54. Mr. BARNES

asked the Chancellor of the Exchequer whether he can submit a return to the House showing the number and amount of holdings of all British Government stocks of over £5,000, the dividends on which are exempted from taxation on the ground of the owner's residence being outside the United Kingdom?


As British Government stocks owned by persons resident outside the United Kingdom may be held in bearer form, and as a large volume of British Government stock carries interest paid without deduction of Income Tax at the source, holdings over £5,000 in the ownership of such persons could only partially be identified and any return would be of a very imperfect nature. Its value in these circumstances would not justify me in authorising the expenditure of time and labour necessary for its preparation.