§ 3. Mr. Stevensasked the Chancellor of the Exchequer what would be the cost to the Inland Revenue of abolishing the provisions of Section 350 (1) (a) of the Income Tax Act, 1952.
§ Mr. P. ThorneycroftFigures on which to base an estimate are not readily available but the cost would probably be about £1 million.
§ Mr. StevensDoes my right hon. Friend realise that the main burden of this restriction falls chiefly upon the small Income Tax payer, and has he considered what would be the effect of Clause 25 of the Finance Bill on Section 350?
§ Mr. ThorneycroftI do not think that Clause 25 would have any effect upon the Section at all, but, if we did, in fact, refund these payments of Income Tax, we should be refunding tax which we had never collected.