§ 51. Mr. PETOasked the Chancellor of the Exchequer whether he will favourably consider the insertion in the Finance Bill of a provision rendering professional incomes, where increased emoluments have been earned during the War, liable to the operation of the Excess Profits Tax?
§ Mr. BONAR LAWThis is a matter which has been very carefully considered, but, having regard to the existing reliefs and allowances in the Excess Profits Duty, the extension of that duty to professions would produce but a small yield, while diverting the energies of surveyors of taxes from other and more profitable Revenue work.
§ 52. Mr. PETOasked the Chancellor of the Exchequer whether he will favourably consider the insertion in the Finance Bill of a provision exempting the income of members of the legal and other learned professions who have given up their practice in order to undertake military or naval duties from the operation of the rule of the three years' average?
§ Mr. BONAR LAWProvision already exists to meet the cases contemplated by my hon. Friend. In this connection I would invite his attention to Sections 11 and 12 of the Finance Act, 1917.