§ Mr. TIMOTHY DAVIESasked whether it is the practice, in cases of persons of small means whose income is partly derived from property and partly earned, to 2109 assess the whole less the statutory deduction at 1s. 2d. in the £, or on the same basis as if it was all unearned?
§ Mr. HOBHOUSEUnder the provisions of Section 19 (2) of the Finance Act, 1907, and Section 68 (3) of the Finance (1909–10) Act, 1910, the statutory allowances to which a person may be entitled are in the first instance to be deducted, so far as is possible, from such person's earned income. If the earned income is exhausted by the deduction of these allowances, the remainder of the income, being unearned, is chargeable at 1s. 2d. in the £, but if there is any balance of earned income it is chargeable at 9d. in the £, provided a claim to the lower rate has been duly made and allowed.
§ Mr. TIMOTHY DAVIESasked, in the case of a person whose entire income is £250 per annum, of which £100 is derived from property and £150 earned, what proportion should be charged 9d. in the £ and what proportion 1s. 2d.?
§ Mr. HOBHOUSEAfter allowance of the statutory abatement of £160, the amount chargeable at 9d. in the £ would be nil, and the amount chargeable at 1s. 2d. would be £90.
§ Mr. CHARLES BATHURSTasked what were the realised amounts during the last completed financial year of the additional burdens thrown upon agricultural landowners by way of Super-tax and increases of Income Tax and Death Duties by the Finance (1909–10) Act, 1910?
§ Mr. LLOYD GEORGEAs regards Super-tax, Income Tax, and Succession Duty the information asked for with regard to agricultural landowners is not available. The additional Estate Duty chargeable under the Finance (1909–10) Act, 1910, on agricultural land for the year 1910-11 amounts approximately to £125,000.
§ Mr. C. BATHURSTMay I ask whether the right hon. Gentleman remembers that ho carefully estimated those increased burdens at an aggregate amount of £880,000, and whether in view of that estimate, the amount has been exceeded or not?
§ Mr. LLOYD GEORGEI have no recollection of that Estimate. I think it was an Estimate made before the concession on Schedule A.
§ Mr. CHARLES BATHURSTIs the right hon. Gentleman aware that it has nothing whatever to do with the concession under Schedule A? He carefully estimated this on the Second Reading of the Finance Bill in 1909?
§ Mr. LLOYD GEORGEI agree. The hon. Gentleman is confirming what I said. I said that the statement was made before the concession under Schedule A, which I made in Committee on the Bill, and which amounts to some hundreds of thousands of pounds a year. That would reduce the amount very considerably.