HC Deb 09 December 1947 vol 445 cc848-9
56 and 57. Sir Frank Sanderson

asked the Chancellor of the Exchequer (1) the total net amount of Income Tax, Surtax, National Defence Contributions and Excess Profits Tax outstanding where agreement has been reached between the Inland Revenue authorities and the companies or individuals concerned, also what is the amount paid on account of such outstanding taxation by way of Tax Reserve Certificates;

(2) the total net amount of Income Tax, Profits Tax and Excess Profits Tax due and outstanding where the assessment or direction has become final and conclusive and after deducting the amount of Tax Reserve Certificates paid for.

Sir S. Cripps

I cannot give current figures of tax outstanding but of the £780 million Inland Revenue duties outstanding at the end of the accounting year 1945–6, it is estimated that £191 million was due and payable at that date and £589 million not due and payable by reason of the fact that the assessments were not finally determined. The total amount of Tax Reserve Certificates outstanding on 31st March, 1946, was £648 million; but it must be borne in mind that these may have been held not only against payment of arrears but also by other taxpayers not in arrear against payment of their current and future liabilities.

Sir F. Sanderson

Will the Chancellor agree that the estimated amount of tax payable for the year 1947–8 being £1,430 million reflects great credit on industry, and their determination to pay their taxes at the earliest possible moment?

Sir S. Cripps

We shall always be glad if they will pay a little quicker.

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