HC Deb 17 June 1920 vol 130 cc1473-4W

asked the Chancellor of the Exchequer what was the total amount received for Income Tax (not including Super-tax) on all incomes exceeding £1,000 in the year 1918–19, the aggregate amount of net income (after all deductions and allowances had been made) chargeable for tax of all tax payers with incomes exceeding £1,000 in the same year, and the total number of such taxpayers?


The information is given in Command Paper No. 224. I am sending my hon. Friend a copy.


asked the Chancellor of the Exchequer if he is aware that the Board of Inland Revenue demands payment of Income Tax on amounts satisfied by credits to uncalled liability on shares of no marketable value; and if such payments of Income Tax should be deferred until such shares have an ascertainable market value and then be paid on such ascertained value, and not on the nominal amount credited to the uncalled liability?


In the absence of the full facts in a specific case I am unable to express an opinion upon the point raised by my hon. Friend. If he will furnish me with the necessary particulars I will look into the matter and communicate with him as soon as I am in a position to do so.


asked the Chancellor of the Exchequer whether he can give any estimate of the amount of income which is below the Income Tax limit and therefore not subject to tax?


I would refer my hon. Friend to the answer given on the 3rd instant to the hon. and gallant Member for Newcastle East (Major Barnes). I will send him a copy.