HC Deb 08 May 1918 vol 105 c2170W

asked the Chancellor of the Exchequer what the effect of the Budget Resolutions with regard to Income Tax and Super-tax will be in the cases of existing plantations and new plantations on ground at present occupied as rough grazing, respectively?


The provisions of Section 22 (4) of the Finance (No. 2) Act, 1915, and Section 38 of the Finance Act (1916) are in no way affected by the Budget Resolutions. Under those provisions it is competent to the occupier of woodlands to elect for assessment to Income Tax under Schedule D by reference to his actual profits, provided that the woodlands are, managed on a commercial basis and with a view to the realisation of profits, and subject to the conditions prescribed in the Sections he may so elect in the case of either existing woodlands, or newly planted or replanted woodlands.