§ Mr. CLOUGHasked the Chancellor of the Exchequer whether, under the Budget proposals, an owner who is also the occupier of agricultural land of the rental value of £3,000 a year will be subjected to an Income Tax of 6s. 5d. in the £l on £3,000 or £926 10s. as owner, and also to an Income Tax of 6s. 5d. in the £l on £6,000 or £1,925 as occupier, or a grand total of £2,887 10s.?
§ Mr. BONAR LAWIn the case stated the total income for the purpose of assessment would in 1919–20 and subsequent years be computed at £3,000, less the repairs allowance of at least one-eighth under Schedule A plus £6,000 under Schedule B for the farming profits, or £8,625 in all. If the taxpayer has no other income the combined Income Tax and Super-tax payable would be £3,500. If, however, the profits fall short of the sum assessed, he would be entitled to he assessed by reference to the actual profits earned and no more. For the current year he would be charged Income Tax on £8,625 and Super-tax on £5,625 only (Super-tax being charged by reference to the statutory income of the preceding year), and his total liability (subject to adjustment if the profits are less than the sum assessed) would be £2,968 15s.