10. Mr. F. HALL (Dulwich)
asked if the expenditure entailed by bankers, trustees, limited liability companies, and 193 others in refunding the excess amount deducted for Income Tax on the 1s. 4d. rate will be met by the Government?
§ The CHANCELLOR of the EXCHEQUER (Mr. Lloyd George)
I would refer the hon. Member to the reply which I gave yesterday to the hon. and learned Member for York.
§ 12. Mr. CASSEL
asked the Chancellor of the Exchequer if he will state why, in spite of repeated pledges given by him, no provision is made in either the Finance Bill or the Revenue Bill for amending the law relating to the collection and assessment of Income Tax on the incomes of husband and wife; why the necessary Resolutions for this purpose were not obtained, notwithstanding that it was pointed out on the 4th May, 1914, that such Resolutions were necessary; when he proposes to move the Resolutions for this purpose; and whether, in considering this, he will bear in mind that he specifically promised to deal with this matter early during the present Session?
§ Mr. LLOYD GEORGE
I would refer the hon. and learned Member to the statement on this subject which I made yesterday.
§ Mr. CASSEL
Will the right hon Gentleman see his way to table the Resolution a few days before it is taken, as the subject is one raising certain questions of difficulty?
§ Mr. LLOYD GEORGE
Yes; I do not see any reason why that should not be done. I will consult my advisers on the subject. I think it might be desirable.
§ 35. Mr. GODFREY LOCKER-LAMPSON
asked the Secretary to the Treasury whether he can give any estimate of the cost to the Exchequer of the relief from Income Tax to persons in respect of the deduction in each year in arriving at the balance of his profits or gains for the purpose of assessment under Schedule D of a sum proportionate to the cost of, or to the premium paid for, any lease of premises used solely for the carrying on of any trade, business, or profession?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Montagu)
I understand the hon. Member to ask for an estimate of the cost of allowing a trader who holds his business premises on lease to deduct, in arriving at his assessable profits, a part (proportionate to the length of the lease) 194 of the capital cost of the lease. I fear it is impossible to give any estimate of the cost of allowance on these lines.