HC Deb 23 November 1939 vol 353 cc1429-30W
Mr. Boothby

asked the Chancellor of the Exchequer whether he can give an assurance that Income Tax and Surtax will not be charged on sums of money received in the United Kingdom by persons ordinarily resident here if such sums are the proceeds of the compulsory sale under the Defence (Finance) Regulations of securities bought out of income which was not liable to Income Tax under the law in force in the year in which that income accrued to the present owner; and whether he will include provisions in the next Finance Bill to ensure that the Defence (Finance) Regulations do not operate to levy retrospective taxation?

Sir J. Simon

As I informed my hon. Friend on 16th November, I am giving consideration to the operation of the Regulations in their relation to the taxation position in certain cases. I regret I am not yet able to make a further statement on the matter.

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