§ Mr. HINDSasked the Chancellor of the Exchequer the date from which interest is charged on unpaid Excess Profits Duty; and what amount has been received on that account on the last available date?
§ Mr. BALDWINIn accordance with the provisions of Section 34 of the Finance Act, 1922, interest on unpaid Excess Profits Duty is charged as from the date on which duty becomes payable, or in the case of duty which became payable on or before the 1st January, 1922, as from that date. For this purpose duty is regarded as becoming payable three months after it is assessed. The amount received up to the 4th instant on account of interest is approximately £175,000.