HC Deb 23 June 1931 vol 254 cc225-6
50. Mr. ALBERY

asked the Chancellor of the Exchequer whether he will issue instructions that notices containing threats should not be sent out to Income Tax payers in cases where reasonable time has not been allowed for preparing accounts?


If the hon. Member has in mind a particular case in which he thinks that there is ground for complaint, and will send me particulars, I will have inquiry made.


Is the Financial Secretary not aware that taxpayers are being threatened with assessments, without any claims for exemption, unless they provide accounts in circumstances with which it is not possible to comply?


I am not aware of that fact, but, if the hon. Member will furnish me with particulars of eases, I will have inquiries made.

48. Mr. P. OLIVER

(for Mr. Mander) asked the Chancellor of the Exchequer to what extent is has been the practice in the past for the Inland Revenue to accept stocks and shares in settlement of Income Tax and Estate Duties owing, and the total amount of the sums so dealt with since 1920?


Where the circumstances make such a course unavoidable the Commissioners of Inland Revenue accept stocks or shares in settlement of Income Tax liabilities, e.g., in cases where the income chargeable to tax has been paid in stocks or shares or where shares which are not presently realisable are the only assets available to meet a liability to tax. As regards Estate Duty, the Commissioners do not accept stocks or shares except certain Government stocks which by their terms of issue are required to be accepted in certain circumstances. The nominal value of shares so accepted since 1920 in respect of Income Tax is approximately £635,000.


Are we to understand that this is a further piece of information in regard to the inevitable collapse of capitalism?