HC Deb 11 July 1910 vol 19 cc151-2W
Mr. EYRES-MONSELL

asked the Chancellor of the Exchequer whether, in determining the amount of income for the purpose of returns for Super-tax the allowance of one-sixth or one-eighth for repairs and of 5 per cent. for management may be deducted?

Mr. LLOYD GEORGE

If the return is based upon the net assessment under Schedule A of the Income Tax Acts, the allowance of one-sixth or one-eighth will have already been made and cannot therefore be claimed again. If, however, the return follows the gross rent, the allowance can be claimed. The additional allowance contemplated by Section 69 of the Finance Act will be administratively applied to the Super-tax year 1909–10 and will for that year be made by repayment and not at the time of assessment. Accordingly, no claim for such allowance should be inserted in the return for assessment for that year.