§ 34. Sir D. Walker-Smithasked the Chancellor of the Exchequer whether he will introduce legisation, or make administrative arrangements, as may be appropriate, to secure the payment of interest to taxpayers who become entitled to a rebate of tax overdeducted.
§ Mr. Robert SheldonThe Finance (No. 2) Act 1975 already provides for the payment of interest—described as "repayment supplement"—on delayed repayments of tax. Broadly speaking, repayment supplement is paid at 9 per cent. per annum free of tax on repayments of £25 or more for individuals and £100 or more for companies, made later than 12 months after the end of the tax year to which the tax related.