HOLDER AND ANOTHER versus INLAND REVENUE COMMISSIONERS
[To the Editor of the SPECTATOR.]
Sin, -I am obliged to Mr. Bakhurst for his corrections, which were only required because (by an unfortunate error) an unre- vised draft of my letter was sent to you. Nevertheless I do not understand the last paragraph of the letter. If the guarantor has to pay by reason of the principal debtor's default, how is the guarantor going to benefit by the " right to look to the principal debtor for refund of all that he has paid on his behalf " ?
Apart from this consideration, why should the Revenue inflict a double tax on the guarantor ? He has to pay addi- tional and unrecoverable tax out of taxed income which, in the end, works out at ten shillings in the pound. The Revenue Commissioners have become rather too fond of eating their cake and having it too.
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