§ 48. Mr. LIDDALLasked the Chancellor of the Exchequer whether he will consider amending the Income Tax law so as to abolish the existing situation where mortgagees in possession of land, by reason of the mortgagor's bankruptcy are rendered liable for Income Tax upon an annual value which in fact they have never received owing to their inability to let the said land?
Mr. CHAMBERLAINFor the purposes of the Income Tax Acts there is no distinction between the case where land is in the possession of a mortgagee and that where it is in the occupation of the owner, nor do I see any reason for seeking to draw any such distinction. If, however, my hon. Friend will furnish me with particulars of any case in which he considers that the present law creates serious hardship, I will inquire into the matter.
§ Mr. LOUIS SMITHIs the Chancellor of the Exchequer aware that, owing to the very distressing position of many farmers, particularly in the barley growing districts, this is becoming a most important matter?
§ Mr. LIDDALLIs the right hon. Gentleman aware that the point is of much wider application than by reason of the mortgagor's bankruptcy, and that a certain rectory in Lincolnshire is at the moment—
§ Mr. SPEAKERThe hon. Member can impart that information to the Minister by letter.