Post-War Credits

HC Deb 14 June 1951 vol 488 c200W

58. Sir I. Fraser

asked the Chancellor of the Exchequer if he will allow postwar credits to be set off against income tax.

Mr. Jay

Arrears of Income Tax on salaries and wages for 1945–46 and earlier years are set off against the post-war credit for 1945–46. That was a special arrangement made to meet exceptional circumstances, and I cannot extend it to allow other post-war credits not yet due for payment to be set off against tax arrears now due.