§ Mr. HILLSasked the Chancellor of the Exchequer whether the Income Tax rate of 9d. in the £ on earned income does or does not apply when the total income earned and unearned exceeds £1,500 a year?
§ Mr. LLOYD GEORGEWhere the total income of a taxpayer from all sources exceeds £1,500 a year and does not exceed £2,000, it is provided by Clause 4 of the Finance Bill that the amount payable on the earned part shall be reduced to the amount which would be payable if the tax were charged on that part at 1s.
§ Sir WILLIAM BULLasked the Chancellor of the Exchequer, whether a man who resides for six months in the year in this country and pays Income Tax on his income in this country will be liable under Clause 5 of the Finance Bill to pay Income Tax on his income derived from foreign sources for which he pays foreign Income Tax, and which is not remitted to this country but is reinvested abroad?
§ Mr. LLOYD GEORGEAccording to the proviso to Clause 5 of the Finance Bill, as amended in Committee, the answer is in the affirmative, unless the taxpayer satisfies the Commissioners of Inland Revenue that he is not domiciled in the United Kingdom.