§ Rule 1 of Rules applicable to Case V of Schedule D of the First Schedule to the Income Tax Act of 1918 shall be amended by the insertion after the words "as directed in Case I" of the words "subject to the provisions of Rules 1, 8 and 9 applicable to Cases I and II of Schedule D.—[Sir. A. Steel-Maitland.]
§ Brought up, and read the First time.
§ Sir A. STEEL-MAITLANDI beg to move, "That the Clause be read a Second time."
This deals with an intricate part of the law and where a certain amount of injustice in practice is at present thought to prevail. The Amendment does not make it absolutely clear upon the face of it. I will explain it if desired, but I understand that either the Chancellor of the Exchequer or the Financial Secretary is ready to consider whether the same object cannot he obtained by administrative means instead of having the Clause. If I get that assurance, I will not detain the Committee further.
Mr. GRAHAMI agree from an examination of the position of these businesses and the manner in which they are assessed, more particularly in their early years, that there is a case which could be considered here. I am under the impression at the moment that an administrative solution may be found, and with that assurance I have no doubt my right hon. Friend will withdraw the Clause. Between now and the Report stage we shall go into it from the administrative point of view along with him.
§ Motion and Clause, by leave, withdrawn.