§ 54. Mr. Lipsonasked the Chancellor of the Exchequer if he will take steps to give to the private trader who is in business on his own account a remission of Income Tax liability equivalent to that allowed to the employed person under the Pay-as-you-earn scheme.
§ Sir J. AndersonI would remind my hon. Friend that the discharge of tax in the case of employees is given only where it is necessary in order to prevent overlapping payments of tax on the transfer to "Pay-as-you-earn." No question of overlap arises for the private trader.
§ Mr. LipsonIs my right hon. Friend aware that persons trading on their own account feel that they are being treated unjustly when they are denied a remission of tax liability which is granted to employees whose income may actually be greater in some instances than theirs, and will he give the matter further consideration?
§ Sir J. AndersonIf my hon. Friend was present during the recent Debate on Pay-as-you-earn he will recall that definite notice was taken of that position by speakers on this bench and speakers in other parts of the House.