§ 65. Sir J. D. REESasked the Chancellor of the Exchequer whether donations for patriotic purposes are allowed as deductions in excess profits; and whether Excess Profits Tax can be exacted in the case of a company which is wound-up in order to escape payment thereof?
§ The CHANCELLOR of the EXCHEQUER (Mr. McKenna)The answer to the first part of the question is in the negative. As regards the second part, I would refer the hon. Member to the provisions of Section 44 (2) and Section 45 (4) of the Finance (No. 2) Act, 1915.