§ 31. Mr. WINDSORasked the Chancellor of the Exchequer whether his attention has been drawn to the action of landed proprietors in turning their estates into companies; and whether, seeing that such companies will result in a loss of revenue to the country in Income Tax and Death Duties, it is proposed to take any action to prevent such loss?
34. Mr. ROBINSONasked the Chancellor of the Exchequer whether his attention has been drawn to the increasing number of landed proprietors who are forming their estates into limited companies for the purpose of avoiding Income Tax and Death Duties; and whether it is proposed to take any action to prevent the loss of revenue that follows the formation of these companies?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Ronald McNeill)My right hon. Friend's attention has been drawn to cases of the type alluded to. The effect of such action on the revenue will be carefully watched.