§ Mr. BRYCEasked the Chancellor of the Exchequer what were the amounts of income of charitable funds exempted from payment of Income Tax in the years 1880, 1890, 1900, and 1915, respectively?
§ Mr. McKENNAI fear the information is not available.
§ Mr. WATTasked the Chancellor of the Exchequer whether he is aware that many farmers who did not make the choice before 7th February of being taxed on their profits under Schedule D instead of on their rental are now anxious to be able to do so because of the increased taxation since February; and, if so, will he consent to extend that date so that farmers who have made no profits may not be taxed where they are not intended to be?
§ Mr. McKENNAThe limiting date mentioned by my hon. Friend has reference to the year ended the 5th April last, the Income Tax for which has remained unaffected since the Finance Act of last December. For the current year farmers had until the 5th June to give notice of election to be assessed under Schedule D. I may point out that in any case, where a farmer has been assessed under Schedule B for any year and his profits for that year are less than the amount of the Schedule B assessment, he can claim relief at the end of the year under Section 27 of the Finance Act, 1896.
EARL of RONALDSHAYasked the Chancellor of the Exchequer if he is aware that periods amounting to months elapse 1342W before small Income Tax payers receive the rebates due to them; if he is aware that hardship is thereby caused to many people; and can he devise measures for the purpose of expediting matters?
§ Mr. McKENNAI would refer the Noble Lord to the reply which the Secretary to the Treasury gave this afternoon to a similar question put by my right hon. Friend the Member for West Islington.