§ 57. Mr. W. W. Astor
asked the Chancellor of the Exchequer whether he will allow depreciation to be charged on part ownership of stallions in a similar manner as it is allowed on full ownership.
§ Mr. R. A. Butler
I assume that my hon. Friend has in mind the question whether shares in a stallion should be dealt with as stock-in-trade for taxation purposes. This is a difficult question which is at present under consideration by the Inland Revenue.