HC Deb 09 May 1923 vol 163 cc2354-5
95. Captain FOXCROFT

asked the Minister of Health whether the increase of rent allowed under the Rent Restriction Act was permitted largely in consideration of the increased cost of maintenance of buildings, etc.; and, if so, whether increased rent, in so far as it represents the increased cost of maintenance, will be exempted from an increase of assessment?

Major BOYD-CARPENTER

I have been asked by my right hon. Friend to answer this question. As I have stated in reply to other hon. Members, the present re-assessment for Income Tax purposes records, as on previous occasions, the annual value of property, or, broadly speaking, the annual rent which is paid under an ordinary tenancy, and the law makes provision whereby the owner can obtain allowance (apart from the flat-rate deductions for repairs), in respect of expenditure on repairs and maintenance upon a five-year average, so that in the result he will bear tax solely on the income which he enjoys.