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May's Trustees

Volume 155: debated on Thursday 29 June 1922

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45.

asked the Chancellor of the Exchequer whether his attention has been drawn to the evidence given before the official arbitrator on the 14th September, 1921, and 2nd May, 1922, and reported in the Press, in the case of May's Trustees v. London County Council, where the audited profits on a farm of 400 acres were proved at £39 per acre; whether he is aware that Income Tax, Schedule B, was paid on an assessment of about £2 an acre, and that the loss to the Exchequer since 1913, owing to the farmer in question being assessed under Schedule B, has amounted to £18,000; and whether he will state, for each year since September, 1913, the assessment under Schedule B, the actual profits, the amount of Income Tax paid under Schedule B, and the amount which would have been payable as Income Tax, Schedule D, and Super-tax, if such taxes had been chargeable in respect of the farm in question?

I had not previously seen any report of the proceedings to which the hon. Member refers. As he is doubtless aware, the Board of Inland Revenue are precluded from furnishing particulars regarding the affairs of individual taxpayers, and I am therefore unable to give the information for which he is asking.