HC Deb 18 June 1941 vol 372 c710

In Sub-section (1) of Section one hundred and forty-one of the Supreme Court of Judicature (Consolidation) Act, 1925 (which provides that certain funds in court shall bear interest at the rate of two per cent, per annum together with any Income Tax chargeable thereon), the words "together with any Income Tax chargeable thereon" are hereby repealed as from the first day of October, nineteen hundred and forty-one. — [Captain Crook-shank.]

Brought up, and read the First time.

Captain Crookshank

I beg to move, "That the Clause be read a Second time."

The position is that on securities lodged in court by suitors at present 2 per cent, free of tax is payable. That provision was made as long ago as 1872, when Income Tax was 4d. in the pound. It seems no longer defensible that this advantage should be enjoyed by suitors whose money it is, and in order to bring it into line roughly with the Clauses we have passed, I move this new Clause.

Question put, and agreed to.

Clause read a Second time, and added to the Bill.