HC Deb 26 June 1916 vol 83 c659

Section thirty-five of the principal Act (which relates to the computation of profits and gains for the purpose of Income Tax in relation to Excess Profits Duty) shall apply to sums actually paid in respect of munitions Exchequer payments as it applies to Excess Profits Duty, except that the relief to the taxpayer under Subsection (2) of that Section shall in all cases be given by means of repayment and not by deduction.


I propose that Clause 35 be left out.


We are now on Clause 36. We have passed Clause 35.

The following Clauses were also ordered to stand part of the Bill: CLAUSE 37 (Definition—5 and 6 Geo. V., c. 54); Part IV.— NATIONAL DEBT AND LOANS—CLAUSE 38 (Limited Power to Borrow on Exchequer Bonds for Ways and Means Purposes); CLAUSE 39 (Suspension of New Sinking Fund); CLAUSE 40 (Arrangements for Exchange of Securities Issued under War Loan Acts); CLAUSE 41 (Repeal of 29 and 30 Vic, c. 25, Section 4) and CLAUSE 42 (Lost or Destroyed Exchequer Bonds).