HC Deb 26 April 1927 vol 205 c690

18. "That where a trade, profession, or vocation has been set up and commenced, or income first became chargeable under Case V of Schedule D, within the period of two years immediately preceding the year next before the year of assessment, Income Tax under Schedule D shall be computed on the full amount of the profits or gains or income of the year preceding the year of assessment.

And it is declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1913."

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