§ 57. Mr. ERNEST BROWNasked the Financial Secretary to the Treasury whether the Income Tax authorities will be prohibited from referring to the new assessments now being made under the Rating and Valuation Act, 1925, in their assessment for Income Tax purposes?
§ Mr. CHURCHILLThe valuation lists made for rating purposes are available under statute for the Income Tax authorities. But the rating values (except in the metropolis) are not necessarily taken as fixing the Schedule A valuations, though they no doubt afford useful evidence in determining them. Except in the metropolis the Schedule A valuations are separate and distinct, and made by separate and independent authorities, and no general 769 revision of them can be made until Parliament has given specific authority for it. In the meantime the Revenue has no power to apply for an increased valuation, if there has been no alteration of the premises, although it is open to the taxpayer at any time to seek a reduction if he can show that the value of his premises has fallen.
§ Mr. BROWNHas the right hon. Gentleman's attention been called to a leaflet circulated by the Conservative Party in Devonshire purporting to give a statement by the Financial Secretary in precisely opposite terms?
§ Mr. CHURCHILLNo, and I should think it very unlikely that any such statement has been circulated.
§ Mr. CHURCHILLCertainly.