HC Deb 09 May 1918 vol 105 cc2337-8W

asked the Chancellor of the Exchequer whether his attention has been called to the fact that only 2½per cent, discount is allowed on prepayments of Income Tax and Super tax in advance, whilst the rate fixed in the Income Tax Act, 1842, was 4 per cent., and this was reduced to 2½by the Revenue Act, 1889; and whether, in the forthcoming Finance Bill, he will raise the rate again to 4 per cent, so as to give some reasonable inducements to taxpayers to pay in advance?


The question raised by my hon. Friend has already received careful consideration, and the conclusion reached is that there would be no public advantage in amending the law which governs the rate of discount now allowed.