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Hong Kong Tax Rebate

Treasury written question – answered on 10th October 2005.

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Photo of Boris Johnson Boris Johnson Conservative, Henley

To ask the Chancellor of the Exchequer why HM Revenue and Customs is unable to waive interest penalties with regard to the Hong Kong tax rebate.

Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury)

Because of tax rebates made by the Hong Kong Government, some people found that they had additional income chargeable to tax in the UK. Under the normal tax legislation, interest (but not penalties) is chargeable on the UK tax paid after the statutory due date. There is no provision in the interest legislation to allow that charge to be waived.

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