§ Mr. Brocklebank-Fowlerasked the Chancellor of the Exchequer if he will make a statement on the assurances he has given to the National Farmers' Union that sole traders and partnerships will be given two years' paper profits tax relief in 1976, and that where farmers are in real cash difficulties, collectors will take as broad a line as they can.
§ Dr. Gilbert,pursuant to his reply [Official Report, 20th February 1975; Vol. 886, c. 447], gave the following information:
My right hon. Friend wrote to the President of the NFU on 27th November and repeated the assurance which he gave to the House in his Budget Statement, that those businesses which do not qualify for the relief in the current Finance Bill 541W for increases in the value of stocks will, in the second year, get relief for two years' trading. He pointed out that collectors of taxes are authorised to allow a reasonable period of deferment of tax where a taxpayer has demonstrated that he is in genuine difficulties, and that he had been assured that collectors are, in fact, taking as broad a line as is consistent with their basic duty to collect tax.