HC Deb 18 February 1918 vol 103 cc463-4
59. Mr. G. TERRELL

asked the Chancellor of the Exchequer if he can furnish a schedule of the rates of depreciation for Income Tax purposes allowed in the engineering, textile, and printing trades by the Commissioners of Inland Revenue on plant, machinery, tools, buildings, and other wearing-out and wasting assets'?

Mr. BONAR LAW

The Income Tax allowances in respect of the depreciation of machinery and plant fall to be determined not by the Commissioners of Inland Revenue, but by the respective bodies of Income Tax Commissioners, upon whom it devolves to allow such deduction as they may think just and reasonable

Mr. TERRELL

Cannot the right hon. Gentleman see his way to have a list of the different rates published; and is he not aware that different rates are allowed in different parts of the country by the same Commissioners; and, in view of the Budget, is it not most important that the House should be in possession of the information at the earliest stage?

Mr. BONAR LAW

My hon. Friend knows the exact conditions under which the work has to be done by the Inland Revenue Commissioners. They have done their utmost in the past to secure uniformity, and they can do nothing more than that.

Mr. TERRELL

Will the right hon. Gentleman answer that part of the question which relates to publication and furnishing Members of the House with a list of the rates?

Mr. BONAR LAW

That is quite impossible. It cannot be done absolutely uniformly in regard to any of these things, and there are other circumstances that have to be taken into account.

Mr. CHAMBERLAIN

Will my right hon. Friend be good enough to consider whether it would be possible to collect in one Paper such rules as are of general application; for instance, the rules relating to depreciation of shipping, the rules relating to depreciation of machinery, and any others which are of general application?

Mr. BONAR LAW

I will certainly consider whether that can be done. In the case of shipping I believe there is a uniform scale, and I will see whether there are any other interests that can be put in a White Paper.