HC Deb 01 March 1934 vol 286 c1258
36. Mr. BURNETT

asked the Chancellor of the Exchequer whether he can see his way to reconsider the rules as to the chargeability to Income Tax of terminable annuities purchased?

Mr. CHAMBERLAIN

I am afraid I cannot see any ground for proposing that the statutory provisions in this respect, which received the approval of the Royal Commission on the Income Tax, should be modified.

Mr. BURNETT

Is it not the case that savings which are invested in terminable annuities are, in fact, twice taxed?

Mr. CHAMBERLAIN

That is a matter which was all gone into very thoroughly by the Royal Commission.