§ 56. Mr. Donovan
asked the Chancellor of the Exchequer whether he will extend the terms of reference of the Millard Tucker Committee so that it may consider the computations for Income Tax purposes of professional profits, since these are calculated for such purposes in the same way as trade profits.142W
§ Sir S. Cripps
I do not propose to extend the terms of reference of the Committee which, as indicated in my Budget speech, were directed to industry. But as Cases I and II of Schedule D have the same Rules in common and the line between trades and professions is not clearly defined, the Committee would be justified in interpreting their present terms of reference as covering professional profits charged under Case II of Schedule D.