§ Mr. Andrew Bowdenasked the Chancellor of the Exchequer if he will make a statement on the method of assessing changes in tax due on untaxed interest from investment income after the capital has been reduced.
§ Mr. MooreThe general position at present is that tax is assessed on the interest arising in the year preceding the year of assessment, except for the opening and closing years of a source of interest when the charge is on the interest arising in the year of assessment. If my hon. Friend has a particular case about which he is concerned I will be glad to look into it if he will write to me with the details.