§ 39. Captain Pluggeasked the Chancellor of the Exchequer whether, in cases where British subjects formerly living abroad in what is now enemy-occupied territory have succeeded in bringing with them a certain proportion of the income which they earned in that country, this money is treated as earned income and is subject to Income Tax in this country?
§ The Chancellor of the Exchequer (Sir Kingsley Wood)The general rule is that a person resident in the United Kingdom is liable to Income Tax in respect of income arising abroad. The application of the rule depends on the facts of the particular case, and perhaps my hon. and gallant Friend will let me have the facts of any case he may have in mind.
§ 40. Dr. Littleasked the Chancellor of the Exchequer whether, in the case of Northern Ireland, farmers whose Poor Law valuation does not exceed £100, assessed under Schedule B, the assessment for Income Tax under the present Budget, will be as hitherto on the Poor Law valuation, rent, or annuity payable to the Ministry of Finance, whichever is least?
§ Sir K. WoodThe present Finance Bill does not alter the provision under which the annual value of lands in Northern Ireland for the purposes of Schedule B is taken to be the Poor Law valuation or the purchase annuity payable under the Land Purchase Acts, whichever is the smaller. Under Sub-section (2) of Clause 28 of the Finance Bill, where a farmer is chargeable under Schedule B, the charge will be on three times the annual value.