§ 2. Mr. Houghtonasked the Chancellor of the Exchequer how increased rents proposed under the conditions outlined in Command Paper No. 8996 will be dealt with for the purposes of Income Tax, Schedule A.
§ Mr. Boyd-CarpenterIf Parliament approves my right hon. Friend's proposals the tax position will be governed by the ordinary law under which, where a rent exceeds the Schedule A assessment, the excess is taxable, subject to due allowance for repairs, under Schedule D.
§ Mr. HoughtonIs the hon. Gentleman aware that to follow that practice would throw a very heavy additional burden of work on the Inland Revenue Department and create many additional perplexities for taxpayers? Will he consider the matter and see whether he can remove the troublesome excess rent provisions under Schedule D and try to get the whole of the income on property assessable under Schedule A?
§ Mr. Boyd-CarpenterI appreciate and share the concern of the hon. Gentleman that we should not overburden the very efficient Revenue machine, but perhaps consideration of the application of this branch of the existing law to this subject-matter had better await discussion of the Bill.