Mr. HUTCHISONasked the Financial Secretary to the Treasury whether any attempt is made by his Department to 958W estimate the annual amount which may be claimed in the form of refunds by Income Tax payers; and, if so, what were the estimated amounts allowed for during each of the past five years, together with the amounts actually claimed?
§ Major ELLIOTNo estimate is made of the Income Tax that may ultimately prove to be repayable in respect of any year of Income Tax assessment. Repayment may be claimed within varying time limits after the end of a year of assessment, and the bulk of the repayment made in any financial year relates in fact to previous years of assessment. The amounts of Income Tax repaid in the last five years are as follow:
£ In 1926–27 … … 43,777,048 In 1927–28 … … 48,813,467 In 1928–29 … … 43,394,549 In 1929–30 … … 45,523,622 In 1930–31 … … 48,502,037