HC Deb 23 February 1978 vol 944 c786W
Mr. Thompson

asked the Chancellor of the Exchequer under what statutory authority the Inland Revenue, having overestimated the first instalment of Schedule D income tax and having re-received the overestimated amount demanded, retains the balance without payment of interest to offset it against the July instalment.

Mr. Robert Sheldon

The overpaid tax is repaid to the taxpayer if he prefers not to have it set off against the July instalment. As a practical matter, the taxpayer is asked which course he wishes to have adopted where the overpayment is substantial, whilst in smaller cases the set-off is made unless he asks for repayment.

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