HC Deb 08 November 1976 vol 919 cc71-2W
Mr. Adley

asked the Chancellor of the Exchequer if, in order to avoid unnecessary financial hardship to those who obtain employment after lengthy periods raised under the exchange cover scheme amounts in total to £4.1 billion. The sterling equivalent on 1st November was £5.6 billion.

Mr. David Howell

asked the Chancellor of the Exchequer if he will list the total loans outstanding in foreign currencies at the most recent convenient date, incurred on public sector account but excluding the nationalised industries.

Mr. Robert Sheldon

The information requested is as follows:

of unemployment, he will make arrangements for them to be reinstated on the tax code pertaining to them when they last worked, rather than putting them in an emergency code category often resulting in a high tax liability on their first week's work after lengthy unemployment.

Mr. Robert Sheldon

When employment is resumed within the same tax year the production of a Form P45 to the new employer should ensure the correct tax deductions forthwith. Where a period of unemployment continues beyond the end of the tax year the use of the most recent tax code, which would usually be that of the previous year, could well result in incorrect tax deductions. The Inland Revenue seeks to ensure that in such a case the correct code number for the current year is provided as quickly as possible.

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