HC Deb 03 August 1943 vol 391 cc2087-8
60. Sir J. Mellor

asked the Chancellor of the Exchequer whether premiums, paid by a company to insure the life of a director or employee in the company's interest, are admitted by the Inland Revenue as a trading expense in the company's accounts; and whether, when the policies mature by death, the sums assured are treated as capital or income in the tax assessment?

Sir K. Wood

The answers to the points raised by my hon. Friend depend on the facts of the case, and if he will give me information of any particular case he has in mind, I will be glad to look into it.

Sir J. Mellor

Is my right hon. Friend aware that the Inland Revenue were asked for a ruling about a particular case over four months ago, and may I ask when that decision will be given?

Sir K. Wood

Perhaps my hon. Friend will send particulars of the case to me, and I will see what can be done about it.