Special Contribution

55.

Mr. Keeling
asked the Chancellor of the Exchequer whether his regulations provide for the Treasury to pay interest on any sum of Special Contribution paid on or after 1st January, 1949, but before assessment, in excess of the amount which turns out to be due.

Mr. Glenvil Hall
No.

Mr. Keeling
As a special contributor who wishes to avoid interest has to guess the amount due, does the reply mean that if he guesses "tails," he loses, and if he guesses "heads," the Chancellor wins?

Lieut.-Commander Braithwaite
That is exactly what it does mean.

Mr. Glenvil Hall
It means that we must comply with the law.

Viscount Hinchingbrooke
Is Income Tax repayable on interest charged by the Treasury on overdue contributions?