HC Deb 27 January 1949 vol 460 cc162-3W
56. Mr. Hurd

asked the Chancellor of the Exchequer how many assessments for Special Contribution under the 1948 Finance Act had been issued by 31st December; and how many remain to be issued.

Mr. Glenvil Hall

About 36,500 notices of assessment to Special Contribution were issued up to 31st December, 1948, and about a further 7,000 up to date. It is estimated that about 125,000 individuals are liable to the Contribution.

57. Mr. Hurd

asked the Chancellor of the Exchequer if his regulations prescribe that a taxpayer who has made a covenant. approved by the Inland Revenue, in favour of the widow and children of his son who was killed in the late war, is liable for assessment to the Special Contribution as if the covenant had not been made.

Mr. Glenvil Hall

The position is governed by Section 52 of the Finance Act, 1948, which provides in effect that periodical payments under voluntary covenants are to be treated for purposes of the Special Contribution as the income of the payer. If the payer's income for 1947–48, including such payments, exceeded £2,000 and more than £250 of this was investment income, he will be liable to the Contribution.