SEVENTY-FIRST REPORT.

TO THE LORDS COMMISSIONERS OF HIS MAJESTY'S TREASURY.

MAY IT PLEASE YOUR LORDSHIPS,

1. We have the honour to submit our Report on the Revenue under our management for the year ended the 31st March, 1928.

2. Table 1 shows particulars of the Inland Revenue receipts and of their actual disposal within the year 1927-28, ended 31st March, 1928. The gross amount of Inland Revenue duties, &c., collected, including amounts collected by other Departments on our behalf, was £472,639,788. The cost of collection of these duties, including amounts borne on the votes of other Departments, such as the Customs and Excise, the Post Office, the Office of Works, and the Stationery Office, was £7,312,935 or 1.55 per cent.

TABLE 1.-Gross Receipts, &c., 1927-28.

3. As respects Inland Revenue duties, amounting in all to £5,449,060, the process of collection, as distinguished from the

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A 3

prior stages of assessment, adjustment and agreement of liabilities, was carried out on our behalf by other Departments as follows:

Post Office

Customs and Excise

£. 5,150,926

298,134

Stamps and Income Tax.
Stamp Duties.

4. The details of the amount of Duties, &c., viz., £4,624,969, collected or received by the Inland Revenue on behalf of other Departments are as follow:-

In addition to the collection of these monies, the Inland Revenue rendered further services, principally in connection with Valuation and Currency Notes, to other Departments. The cost of all services to other Departments charged on the Inland Revenue Vote amounted to £523,448.

5. In this Report, the "Gross Receipt of any tax or duty for any given financial year means the aggregate amount of tax actually collected and brought into our accounts within that year, no matter for what year the tax or duty may have been assessed or charged. It thus includes arrears of previous years. The "Net Receipt" is the " Gross Receipt "after deduction of "Repayments" made within the same year. These Repayments may similarly relate to tax repayable in respect of previous years. "Exchequer Receipt" is the amount paid into the Exchequer within the year, and necessarily differs somewhat from the "Net Receipt" of that year, owing to the time required to realise

The

remittances. This difference approximately represents the variation between the amount of unrealised remittances brought forward from the previous year and that carried forward to the following year.

TOTAL INLAND REVENUE DUTIES.

TABLE 2.-Budget Estimate, Exchequer Receipt, and
Net Receipt, 1927-28.

TABLE 3.-Budget Estimate, Exchequer Receipt, and

* Excluding receipts from Estate Duties and Stamp Duties in Northern Ireland after 21st November, 1921, ↑ Reserved Taxes in Northern Ireland.

Great Britain and Northern Ireland (Reserved Taxes).

TABLE 4.-Net Receipt, all Inland Revenue Duties, 1917-18 to 1927-28.

£
£
25,143,566
25,742,554

£
36,637,708

£
40,613,627

£

£
45,145,725 48,463,487 49,804,961

£

£
50,514,243

£

£

£

52,861,205

59,086,239

68,621,349

Succession

5,992,944

..

8,553,824

5,656,455
12,417,021

682,737

642,760

6,122,269
22,891,467
671,200

6,567,454
26,540,814
649,816
1,955,686
- 307,897
650,596
317,029,475 340,665,338
42,404,597 55,668,985
289,208,046 218,099,128
701,177

334,933,650 314,374,524 271,433,127 275,456,264 258,064,955 230,135,868 253,495,368
63,910,222
61,351,366
61,746,785 62,989,313
66,295,611
67,833,068
29,670,692 1,122,546 1,867,540 2,758,238 2,382,849 4,583,561 295,029
17,704,395 18,814,570 23,451,273 18,005,102 11,704,657 3,875,096 1,789,139

60,052,833

TOTAL

504,816,147

623,673,938 717,550,771 691,154,128 518,728,696 479,503,503 486,716,591 442,349,586 427,408,361 398,048,110 419,866,233

Excluding Transferred Taxes in Northern Ireland after 21st November, 1921.