§ 3. Mr. Pageasked the Chancellor of the Exchequer what comparison he has made between the total annual sum estimated to be payable as rent in the United Kingdom and the combined total of the annual value of property, not owner-occupied, for the purpose of Schedule A tax and the amount of excess rents declared for tax purposes; and what steps he is taking to ensure that the requirements for disclosure of rents received in excess of annual value are brought to the notice of the general public.
§ The Financial Secretary to the Treasury (Mr. J. E. S. Simon)Figures are not available which would enable such a comparison to be made. As regards the second part of my hon. Friend's Question, the Income Tax return forms and the accompanying notes make it clear that excess rents must be returned, and inspectors of taxes make suitable inquiries where necessary.
§ Mr. PageMay I ask two supplementary questions on that? Is not it a fact that the collector of taxes has a fair certainty of collecting the owner-occupier into his net on notional income, whereas the person who is receiving cash income from excess rents so frequently escapes through the mesh, and is not it unfair to the owner-occupier? Secondly, is my hon. and learned Friend aware that, although I do not aspire to the heights of my hon. Friend the Member for Kidderminster (Mr. Nabarro) in the impressive quantity of Questions, I trust that the pertinent quality of my Questions over the past few months will get its reward on Tuesday week?
§ Mr. SimonIn regard to the first part of my hon. Friend's supplementary question, I have no reason to think that any substantial amount of excess rents escapes taxation. In regard to the second part, I congratulate my hon. Friend.