§ 17. Mr. Fletcher-Cookeasked the Chancellor of the Exchequer what plans he has to change the situation whereby the amount assessed under Schedule D can, over the life of a business, exceed the amount of profits earned.
§ Mr. Robert SheldonI recognise that this can happen under the existing "preceding year" basis of assessment for Schedule D. The Inland Revenue is currently studying the implications and feasibility of moving to a form of current year basis of assessment.