§ 34. Mr. Stokesasked the Chancellor of the Exchequer whether he will make arrangements whereby payments of Schedule E tax can be made under discount, as is now the case with payments under Schedule D?
§ The Financial Secretary to the Treasury (Captain Crookshank)As stated in an answer given on 21st August to a Question by my hon. Friend the Member for Cheltenham (Mr. Lipson), it would not be to the Exchequer's advantage, in view of the prevailing short-term rates of interest, to extend the conditions 480 on which discount is allowable on prepayment of Income Tax. I may add that many taxpayers have made advance payments, without asking for interest or discount, in respect of forthcoming liabilities to direct taxation.
§ Mr. StokesIs there any reason why Schedule D taxpayers should have this advantage?
§ Captain CrookshankThese matters have been very carefully considered. We consider that the course at present taken is to the best advantage of the Exchequer, which must be the main consideration.