Interest (Tax Relief)

HC Deb 16 June 1971 vol 819 cc110-1W

Mr. Costain

asked the Chancellor of the Exchequer how much tax was collected during 1969–70 and 1970–71, respectively, by the application of the 1969 Finance Act provisions prohibiting tax relief on interest.

Mr. Patrick Jenkin

This information is not available but the yield is estimated as £6 million in 1969–70 and about £20 million in 1970–71.