§ Mr. SANDERSasked the Chancellor of the Exchequer whether county councils are allowed,, in accounting for the Income Tax deducted by them from interest paid to their lenders on general county account, to take credit for all Schedule A Tax which they have been called upon to pay in respect of small holdings, both as regards lands rented (when the tax paid exceeds that which can be deducted from rent paid to the landowner) and lands purchased out of loans advanced by the Public Works Loan Commissioners'?
§ Mr. LLOYD GEORGEAll interest paid to the Public Works Loan Commissioners is allowed as a set-off against any assessable income of the council. Whether the tax payable under Schedule A should be set off against the tax deducted from interest depends on the circumstances of each case.