HC Deb 27 February 1917 vol 90 c1858W

asked the Chancellor of the Exchequer to whom holders of Colonial stock and shares entitled to the rebate of 1s. 6d. of the 5s. Income Tax must apply for such rebate; is it to the local assessor where the holder resides or to the head offices at Somerset House?


Section 43 of the Finance Act, 1916, provides for the relief in respect of Colonial Income Tax being afforded by way of repayment, and the official form of claim for this purpose is obtainable upon application to the local Surveyors of Taxes. To avoid, so far as possible, the inconvenience of repayment claims, the Commissioners of Inland Revenue have made arrangements under which agents in this country entrusted with the payment of dividends on Colonial shares, etc., are permitted upon affording the necessary proof, to account to the Revenue in the first instance for the net amount of Income Tax after deducting the allowance due under Section 43, and the relief is passed on to the shareholders by way of a reduced deduction of British Income Tax from their dividends. Similarly, in cases where shareholders are assessed individually for Colonial dividends receivable by them without the intervention of a paying agent in this country, the Commissioners have authorised their Surveyors of Taxes to arrange for any allowance due to be made by a deduction from the Income Tax payable locally wherever the adoption of this course is possible.

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