HC Deb 20 June 1921 vol 143 cc983-5

Notwithstanding anything to the contrary in the principal Act, repayments and adjustments of Excess Profits Duty, and assessments and additional assessments to Excess Profits Duty in respect of any accounting period, may be made at any time, as the case may require, unless and until Parliament otherwise determines.

Mr. GRATTAN DOYLE

I beg to move, after the word "Duty" ["adjustments of Excess Profits Duty"], to insert the words "may be obtained and made."

This is a purely formal Amendment, which I am moving on behalf of my hon. and gallant Friend (Colonel Gretton).

Mr. YOUNG

I accept this Amendment. Amendment agreed to.

Sir W. RAEBURN

I beg to move to leave out the words "unless and until Parliament otherwise determines," and to insert instead thereof the words "within three years."

The Clause contains the words Additional assessments to Excess Profits Duty in respect of any accounting period, may be made at any time, as the case may require, unless and until Parliament otherwise determines. That means that the question of account may go on for years. My Amendment, if carried, will provide that there should be a limit of three years from the passing of this Bill during which these assessments can be reopened or made. I hope the Chancellor of the Exchequer will agree to this, because it is just as well for his own Department as for those who have to be assessed that this limitation should be made.

Mr. YOUNG

I fear the Government cannot accept this Amendment. There are really several good practical reasons why it would be unsuitable. In the first place, the Amendment, as moved by my hon. Friend, has no date from which the three years would run. Therefore it would be imperfect in form. In substance, it would be undesirable and impracticable that the date for the making of assessments should be confined to three years. I know there is the analogy of the Income Tax in which the assessment is spread over three years, but the difficulties with regard to the Excess Profits Duty are so much greater that there is no real comparison between the two. Another great practical difficulty is that the stock allowances must of necessity be running for a much longer period than three years. Therefore to limit the period to three years would simply be to necessitate further legislation at the end of that time. In the second place, the Amendment would have an undesirable effect from the taxpayer's point of view, as it would limit his possibility of obtaining new assessments and rectifications in the future on further information, just as it would limit the authority of the Board of Inland Revenue. From the point of view of both it is impracticable, and especially in view of the longer period which must run before the completion of the stock assessments.

The CHAIRMAN

It now appears that this Amendment is not in order. It would limit the power of assessment and therefore cannot be put

Question, "That the Clause, as amended, stand part of the Bill," put, and agreed to.

Clauses 28 (Determination of excess mineral rights duty), 29 (Repeal of s. 55 of 6 & 7 Geo. 5, c. 24), 30 (Interpretation and saving), 31 (Extension of s. 14 of 63 & 64 Vict., c. 7 to persons killed during disorders in Ireland), 32 (Sinking Fund with respect to Conversion Loan), and 33 (Continuance during current financial year of s. 58 of 10 & 11 Geo. 5, c. 18, 38 & 39 Vict., c. 45), ordered to stand part of the Bill.