Colonel Sir J. HOPEasked the Chancellor of the Exchequer whether under the Budget proposals a farmer whose farming year ends on the Scottish November term day and who, before 31st December, 1918, produces his farming accounts for the year ending 15th November, 1918, will be allowed to pay the first instalment of his Income Tax in January, 1919, under Schedule D on the profits shown in these accounts for the year 1918, or whether all farmers who have not kept accounts for all the three years 1916, 1917, and 1918 must, in the first instance, pay their Income Tax under Schedule B?
§ Mr. BONAR LAWIn the case suggested by my hon. and gallant Friend, if the farmer proves before the 1st January, 1919, that his actual profits for the farming year ending in November, 1918, are-less than the amount of the Schedule B assessment he will be allowed to pay the 983W January instalment of duty on the basis of the reduced assessment, and no repayment claim will be necessary. There would be no question of an assessment wider Schedule D in such a case. The assessment would remain under Schedule B, but would be reduced to the amount of the profits proved to have been made for the farming year ending in November, 1918.