§ 70. Squadron-Leader Segalasked the Chancellor of the Exchequer what percentage depreciation has been assessed by his Department for Income Tax allowances on a new motorcar purchased in 1939, for the years 1940, 1942, 1944 and 1946, respectively.
§ The Financial Secretary to the Treasury (Mr. Glenvil Hall)From 1940 to 1945 wear and tear allowances for Income Tax on motorcars have normally been computed at 20 per cent. of the written down value with an additional allowance equal to one-fifth of that amount. For 1946 the normal rate will be 25 per cent. of the written down value with no additional allowance.