§ Mr. MadelTo ask the Chancellor of the Exchequer what is the annual interest paid by the Exchequer caused by delay in making refunds on excessive assessments made by the Inland Revenue; and if he will make a statement.
§ Mr. DorrellThe Inland Revenue aims to make repayments promptly as it recognises that hardship can occur if repayment is delayed whatever the reason. Interest on delayed repayments of overpaid tax—called repayment supplement—is added automatically where appropriate.
The total amount of repayment supplement paid for 1991–92 was £76,116,026.51.