65. Mr. H. D. Hughes
asked the Chancellor of the Exchequer, in assessing net true income for the purposes of Income Tax, Schedule D, what were the total amounts paid to political parties, aims of industry and similar bodies, by individuals, firms and companies in each of the groups classified in the annual report of the Commissioners of Inland Revenue, which were allowed or disallowed, respectively, in computing tax in 1946–47; and whether he will arrange to include these figures in subsequent annual reports of the Commissioners.
§ Mr. Glenvil Hall
This information is not available nor do I think that the work involved in extracting the figures for future publication would be justified.
§ Mr. Pargiter
asked the Chancellor of the Exchequer whether he has any statement to make about the extra-statutory wartime concessions No. 6 (Income Tax) and No. 2 (i) (Death Duties) which his predecessor announced, on 16th May, 1947, were being continued as a purely temporary measure.
§ Sir S. Cripps
I have decided to withdraw concession No. 6 (Income Tax) under which collection of tax has been deferred in certain cases involving compulsory remittance of foreign currency.
In cases where consideration moneys, being the proceeds of such compulsory remittances, have been kept in a specified bank account or in identified investments and collection of tax has been deferred under the concession, I propose that the tax shall be regarded as becoming due and payable on 15th June, 1950, subject 292W to the proviso that if any part of the consideration moneys is remitted abroad before 15th June, 1950, it will be treated for tax purposes as not having been remitted to the United Kingdom and the amount of tax collectible will be reduced accordingly. The proviso will also apply in cases where moneys which have already been received have been kept in a specified bank account or in identified investments but have not yet been assessed to tax and in cases where moneys similarly identifiable are received between now and 15th June, 1950. With regard to consideration moneys received on or after 15th June, 1950, any part which is remitted abroad immediately will be treated, for tax purposes, as not having been remitted to the United Kingdom and will be excluded from assessment to tax. Remittances abroad other than to the Scheduled Territories require Exchange Control permission.
Regulation 1 of the Defence (Finance) Regulations with which the Death Duties concession is linked, does not expire until the end of 1950, and I therefore propose that concession No. 2 (i) shall continue for the time being.
§ Sir S. Cripps
There are no special Income Tax regulations in regard to members of the Women's Voluntary Service, whose taxation position falls to be determined in accordance with the general provisions of the Income Tax Acts.