§ Mr. CLOUGHasked the Chancellor of the Exchequer what will be the detail and total amounts of assessment for Income Tax under the new financial proposals for a tenant farmer with a wife and three children, paying £500 a year for rent, assuming that he returns his profits at £500 under Schedule D and that he has no other sources of income; and will he state the detail and total amounts, assuming that he has no other sources of income, which an owner, with a wife and three children, agricultural land of the rental value of £500 a year was assessed for Income Tax under Schedule B by the Finance Acts, 1913, 1914, 1915, 1916, and 1917; and also at what he will be assessed by the new financial proposals?
§ Mr. BONAR LAWThe proposed taxation in the first-mentioned case is as follows:
£ s. d. Total Income 500 0 0 £ Allowances— Abatement 100 Wife 25 Three Children 75 200 0 0 Residue of Income charged to Income Tax at 2s. 3d. in the £ 300 0 0 Amount of tax payable 33 15 0 In the last-mentioned case, the owner will, of course, only be liable under Schedule B if he also occupies the land. His liability in that case would be as follows under Schedule B:
£ s. d. 1913–14 … … … … 3 12 6 1914–15 … … … … 4 16 8 1915–16 … … … … 45 0 0 1916–17 … … … … 62 10 0 1917–18 … … … … 62 10 0 1918–19 … … … … 187 10 0 For the details I would refer the hon. Member to my reply of the 1st inst. to his question regarding the liability under Schedule A and Schedule B of a taxpayer of the same means and circumstances.