§ 72. Lieut. - Commander FLETCHER
asked the Chancellor of the Exchequer what has been the total amount of the claims of the Inland Revenue authorities in respect of Income Tax in cases of bankruptcy since 1918, and the total amount recovered in respect of these claims from the earnings of the bankrupts subsequent to their bankruptcy; and what is the total Income Tax due between 1932 and 1934 but not collected owing to bankruptcy or liquidation?
I regret I am unable to furnish the information asked for relating to the amounts of Income Tax claimed and recovered in bankruptcy cases, but the hon. and gallant Member will find particulars of the amounts remitted as not collectible owing to bankruptcy and liquidation in the annual 2311 reports of the Comptroller and Auditor-General, which come under the consideration of the Public Accounts Committee. For the years 1932, 1933, and 1934 the total amounts of Income Tax (including Sur-tax) remitted in respect of bankruptcy and liquidation were, in round figures, £890,000, £1,220,000 and £760,000 respectively. The total collection of Income Tax and Sur-tax for those years, before allowing for repayments, amounted to £367,000,000, £336,000,000 and £334,000,00 respectively, so that the remission in respect of bankruptcy for the years in question was approximately one quarter of 1 per cent.