HC Deb 07 April 1971 vol 815 c196W
Mr. John Page

asked the Chancellor of the Exchequer what expenses for time and travel may be set against income from property investment by a property owner who manages his own property personally.

Mr. Patrick Jenkin

A deduction is allowable for expenditure on travel which is undertaken in the course of managing the property but not for the notional cost of the owner's time; to allow the latter would involve the artificial concept of a man paying himself.