HC Deb 20 May 1930 vol 239 cc220-1W

asked the Financial Secretary to the Treasury whether, in view of the fact that brokers and dealers in stocks and shares are permitted by the Revenue Department to issue vouchers for reclaim of tax deducted at source to buyers of stocks and shares cum dividend, and that the sellers of the same stocks or shares receiving the company's dividend warrant with voucher attached for reclaim of tax deducted at source are able without encumbrance to present such voucher for reclaim of the same tax deducted at source, thus duplicating the claims made upon the Revenue Department, he will consider instructing the Revenue Department to cancel the arrangement for brokers and dealers to issue such vouchers and authorise them to demand the original company's voucher issued to the seller and authorise brokers and dealers to endorse such company's vouchers for reclaim of tax in favour of the buyer, thereby eliminating the possibility of fraud on the Revenue Department?


I fear that my hon. Friend's suggestion is not practicable.