HC Deb 15 November 1917 vol 99 c572
68. Mr. JOWETT

asked the Chancellor of the Exchequer if his attention has been drawn to the proceedings of a number of speculators in real estate consisting of farm lands who for the last few years have realised profits by making private purchases from owners and afterwards offering the properties for public sale by auction and presenting the tenants with the alternatives of either giving enhanced prices for their farms or being turned out of their holdings; if the speculators in question are liable to pay Excess Profits Tax; and, if not, whether he will take steps to make them liable to pay on their excess profits as early as possible?

Mr. BONAR LAW

If the transactions to which the hon. Member refers amount to the carrying on of a business, the profits thence arising would be within the scope of the Excess Profits Duty; and should the hon. Member care to draw my attention to any particular cases which he has [...] mind I shall be glad to have inquiry made.