HC Deb 19 January 1943 vol 386 cc86-8W
Viscount Hinchingbrooke

asked the Chancellor of the Exchequer whether, in the matter of Income Tax post-war credits, any concession is made to individuals of advanced age to enable them to enjoy the use of taxed income at the present time; and, if so, what is the nature of these concessions?

Sir K. Wood

It is of the essence of the scheme for Income Tax post-war credits that the tax put to the post-war credit should not be made available to the taxpayer until after the war, and I could not agree to make an exception to this rule for a particular class of taxpayers.

Colonel Macnamara

asked the Chancellor of the Exchequer whether, in view of the response of women to the appeal for the maximum of war effort, he will consider revising in the next Budget those sections of the Income Tax Acts which debar working wives at present from receiving post-war credits for the money they have actually earned and on which tax has been paid?

Sir K. Wood

My hon. Friend is under a misapprehension in thinking that a wife with income of her own is debarred from receiving a post-war credit. I am sending him a copy of an answer given to my hon. Friend the Member for Chislehurst (Sir Waldron Smithers) on the 10th November last, in which I explained the

Class of Estate. 1939–40. 1940–41. 1941–42.
Small Estates not exceeding £500 gross. 61,334 64,039 63,275
exceeding £ net but not exceeding £ net
100 1,000 38,768 42,419 45,419
1,000 5,000 37,915 41,318 44,053
5,000 10,000 8,307 8,842 9,379
10,000 20,000 4,806 4,708 5,211
20,000 50,000 2,867 2,870 3,239
50,000 100,000 775 765 838
100,000 250,000 332 344 360
over 250,000 111 108 99
Totals 155,215 165,413 171,873

Mr. Tinker

asked the Chancellor of the Exchequer the number of estates of over £20,000 that have paid Death Duties during the years 1938, 1939, 1940, 1941 and 1942?

Sir K. Wood

In reply to the hon. Member for Lewisham (Mr. Brooke) I have given a table which contains the information asked for by my hon. Friend.

Mr. Parker

asked the Chancellor of the Exchequer whether he has considered issuing a loan at a very low rate of interest under par, definitely surrenderable at par against Death Duties, any amount

wife's right to claim a division of the post-war credit, and I would add that where the post-war credit is divided the wife receives a separate certificate for her share.

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