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Taxation (Arrears)

Volume 154: debated on Tuesday 23 May 1922

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asked the Chancellor of the Exchequer what proportion, if any, of the sums outstanding on 31st March last as due under arrears of Income Tax and Excess Profits Duty he estimates he will not eventually recover?

The amount of Income Tax stated in my reply of the 1st. May to the hon. Member for Midlothian and Peebles (Sir D. Maclean) as unpaid on the 31st March, 1922, represented an estimate of the amount which will be actually paid after that date. The amount of Income Tax which, having been assessed, is subsequently discharged on the ground of non liability or lost as irrecoverable is never large. The arrears of Excess Profits Duty include large amounts which will be discharged on the settlement of pending objections and appeals, but I am unable at present to estimate the net amount which will ultimately be paid.