§ 50. Mr. HERBERT WILLIAMSasked the Chancellor of the Exchequer the present amount of the unpaid assessed arrears of Corporation Profits Tax and the estimated amount of this duty still to be assessed?
§ The CHANCELLOR of the EXCHEQUER (Mr. Churchill)The approximate amount of Corporation Profits Tax in assessment (less arrears shown due to be remitted) at the end of February, 1925, was £15,500,000. It is thought that the amount of this duty still to be assessed may approximate to £10,000,000. In regard to both these figures it should be explained that considerable reductions will fall to be made as the result of objections and appeals, and the sum to be received by the Exchequer is likely to fall substantially short of the aggregate assessment stated.