Income Tax.

Part of Oral Answers to Questions — National Finance. – in the House of Commons at on 18 June 1942.

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Photo of Sir Kingsley Wood Sir Kingsley Wood , Woolwich West

The present Finance Bill does not alter the provision under which the annual value of lands in Northern Ireland for the purposes of Schedule B is taken to be the Poor Law valuation or the purchase annuity payable under the Land Purchase Acts, whichever is the smaller. Under Sub-section (2) of Clause 28 of the Finance Bill, where a farmer is chargeable under Schedule B, the charge will be on three times the annual value.