§ Mr. Evelyn Kingasked the Chancellor of the Exchequer why the Inland Revenue is asking for details of cost and date of acquisition of private residencies, in view of the fact that they are exempt from the Capital Gains Tax.
§ Mr. Harold LeverBecause in certain circumstances (e.g. where it is let for substantial periods) a part of a gain on a private residence would be chargeable to Capital Gains Tax.