HC Deb 17 November 1911 vol 31 cc789-90W

asked the Chancellor of the Exchequer whether his attention has been called to the hardship inflicted upon commercial concerns by the fact that no allowance is made in the assessment for Income Tax for depreciation of building used for trade purposes, and that the allowance for depreciation of machinery is altogether inadequate; and whether he will take an early opportunity of dealing with the matter?


The questions of depreciation of buildings and machinery were considered by the Departmental Committee on Income Tax in 1905, and I would refer my hon. Friend to Part V. of the Committee's Report. Certain aspects of these questions are also now under consideration by the Board of Inland Revenue in connection with memorials received from a number of Chambers of Commerce.