HC Deb 03 July 1928 vol 219 c1229

Section two hundred and eleven, Subsection (2) of the Income Tax Act, 1918, which provides that a person liable to pay any rent, interest, or annuity, or to make other annual payment, who has not made a sufficient deduction of Income Tax, may make up the deficiency on the occasion of the next payment, shall apply equally in the case of dividends paid by limited liability companies.

In the event of there being no distribution on the date upon which the next dividend would normally have become due, the adjustment shall, nevertheless, be made on that date.

The Section shall be extended to enable such person or company in like manner to adjust any excess of deduction.

The CHAIRMAN (Mr. James Hope)

This new Clause, would, in certain circumstances, involve a charge, and is, therefore, out of order.