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Income Tax (Interest On Dues)

Volume 867: debated on Wednesday 16 January 1974

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asked the Chancellor of the Exchequer what is the amount of money received in each of the last three years in interest on outstanding income tax ; how much of this was collected in this period on amounts between £1,000–£2,000, £2,000–£3,000 and over £3,000 ; and what was the administrative expense involved in each category.

Gross receipts of interest on overdue income tax in the last three accounting periods—ended on the last Friday in October—for which figures have so far been extracted were:—

£000
A/C 703,604
A/C 714,356
A/C 725,004
These figures largely exclude interest on under-assessed income tax, the great bulk of which is not recorded separately. The further information requested is not available.