HC Deb 17 May 1966 vol 728 cc1108-9
26. Mr. David Mitchell

asked the Chancellor of the Exchequer whether, in assessing the taxpayer's liability to pay Schedule E tax under Section 47 of the Finance Act 1963, the notional income on which tax is levied will be limited to the difference between the rent paid and the rent which would be applicable when fixed by a local rent officer for a regulated tenancy under the terms of the Rent Act, 1965.

Mr. Diamond

No, Sir. This is not the measure of liability prescribed by Section 47.

Mr. Mitchell

I cannot see any logic in the position that the Chancellor of the Exchequer is taking up. If one is levying a tax on the difference between—

Hon. Members

Question.

Mr. Mitchell

If one is levying a tax on the difference between an assumed rent and the rent actually paid, there must be some fair and external way of arriving at the figure of the fair rent.

Mr. Speaker

Questions must be put in the form of questions.