HC Deb 24 February 1927 vol 202 c1928W

asked the Chancellor of the Exchequer under what Section of a Finance Act he has demanded the payment of Income Tax in the hank interest on the funds of a railway employés sick and dividend club?


Income Tax is chargeable upon all 'rank interest subject to the title of the recipient to any exception provided by the Income Tax Acts. I am not aware of fie demand to which my hon. Friend refers, but if he will give me particulars of the club I will gladly have inquiry made into its title to any exemption.