HC Deb 18 February 1964 vol 689 cc175-6W
56. Sir G. Nabarro

asked the Chancellor of the Exchequer whether he is aware that, notwithstanding the double taxation agreement between Great Britain and New Zealand, under New Zealand taxation laws interest accrued on National Savings Certificates bought in Great Britain by persons who subsequently emigrate to New Zealand is taxable; and if he will make representations to the New Zealand Government with a view to remedying this.

Mr. Green

I understand that this is so and I do not think I could reasonably ask the New Zealand Government to grant exemption.

57. Sir G. Nabarro

asked the Chancellor of the Exchequer what countries, Commonwealth or foreign, in addition to New Zealand, assess to taxation the interest accrued on National Savings Certificates bought interest tax free in Great Britain by persons subsequently emigrating; and why buyers of National Savings Certificates in Great Britain are not forewarned of this on propaganda and literature for the 11th and earlier issues of National Savings Certificates.

Mr. Green

The only specific exemption for such interest that I am aware of is in Jersey, though some countries do not tax income from any overseas source. In official National Savings literature references to tax exemption are specifically to United Kingdom Income Tax or Surtax. It would be difficult to deal in general literature with all the problems that may arise in special cases.