§ Mr. HARRISasked the Chancellor of the Exchequer whether he intends to deal with the situation disclosed by the Royal Commission on Income Tax, 1920, whereby a taxpayer receiving income from a decontrolled house in excess of the Schedule A assessment does not have to pay tax on the excess; and whether he will consider bringing under Schedule D these excess rents, as recommended in Part V, Section three, paragraph 434 (b), of the Royal Commission's Report?
§ Mr. McNEILLI can assure the hon. Member that the matter to which he refers has not escaped my right hon. Friend's attention; but he is not at present in a position to indicate what decision will ultimately be reached.
§ Lieut.-Colonel ACLAND - TROYTEasked the Chancellor of the Exchequer whether, seeing that it is the custom to charge Income Tax on war stock for a year after it has been sold and dividends have ceased, on the assumption that tax was not paid during the first year of possession, he will state why war stock should be singled out for this special treatment?
§ Mr. McNEILLMy hon. and gallant Friend is, I think, under a misapprehension. It is not the custom to charge Income Tax on war stock for a year after it has been sold and dividends have ceased.