§ MR. BILLSON (Staffordshire, N.W.)
To ask Mr. Chancellor of the Exchequer, if he can give the amount of fines on renewal of leases assessed to Income Tax in the Metropolis during the years 277 1900–1905 respectively, under The Income Tax Act, 1842 (Schedule A, No. II., 5); and if he can say what portion, if any, of such fines have been discharged say the Commissioners from the profits liable to assessment, on the ground that they have been applied as productive capital.
(Answered by Mr. Asquith.) There are no statistics of the amounts of fines levied on renewal of leases in the Metropolis. It may, however, be stated that the amounts of such fines are almost invariably applied as productive capital and therefore obtain exemption from Income Tax under the proviso to Rule No. II., 5, of Schedule A in the Act of 1842.