§ Mr. Chris Smithasked the Chancellor of the Exchequer what is the policy of the Inland Revenue on the taxation for income tax purposes of the following activities: (a) prostitution, (b) traffic in illegal drugs and (c) robbery.
§ Mr. Moore[pursuant to his reply, 2 April 1984, c. 372]: Profits or gains from activities which amount to the carrying on of a trade or profession are taxable notwithstanding that they may be unlawful. The precise tax treatment of the activities referred to by the hon. Member would depend on a full examination of all the relevant facts.