§ 83. Mr. H. WILLIAMS
asked the Chancellor of the Exchequer if he will state for the latest year for which the figures are available how much of the total net income assessed to Income Tax was earned income and investment income, 38 respectively; and how much of the latter consisted of undistributed profits of limited companies?
§ Mr. McNEILL
The total amount of actual income assessed to Income Tax for the year 1925–26 is estimated at £2,375 million, of which about £1,300 million is earned income and about £1,075 million investment income. No information is available as to the undistributed profits of limited companies included in the latter figure. For the year 1923–24, however, a special inquiry was made into the amount of these undistributed profits and they were estimated for that year at £217frac12; million. My hon. Friend will find this figure in the Report of the Colwyn Committee on National, Debt and Taxation.
§ Mr. MACQUISTEN
Has the Financial Secretary any figures of the income derived from investments abroad and the Colonies?