§ Mr. Fauldsasked the Chancellor of the Exchequer whether the statutory interest charge referred to in his answer to the hon. Member for Warley, East on 27 June is an interest charge which the commissioners are required by statute to impose, or whether the statute empowers them to impose it at their discretion, with an option of waiving it whenever such a course is in their opinion warranted by the particular circumstances.
§ Mr. Peter ReesSubject to the general responsibility of the Board of Inland Revenue for the administration of capital transfer tax, paragraph 19 of schedule 4 to the Finance Act 1975 requires interest to be charged in all cases where tax is overdue.