HC Deb 23 February 1978 vol 944 c781W
17. Mr. Fletcher-Cooke

asked 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 Sheldon

I 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.