HC Deb 23 June 1936 vol 313 c1589
49. Mr. MARCUS SAMUEL

asked the Chancellor of the Exchequer what was the additional amount of Income Tax paid by the co-operative societies under Schedule C for the past year, as compared with the year prior to the amendment of the Income Tax laws relating to co-operative societies?

Mr. CHAMBERLAIN

The tax payable under Schedule C, which relates to interest and dividends payable out of public revenue, cannot be distinguished from any other tax payable by the societies. It is estimated that the payment of Income Tax by the societies in the year 1935–36 amounted to £1,350,000. This includes about £500,000 in respect of Income Tax under Schedules A and B which represented the liability of the societies before the Finance Act, 1933.

Mr. SAMUEL

Is this up to expectations, and, in view of the small sum, will the right hon. Gentleman look out for anything in the way of legal evasion?

Mr. A. V. ALEXANDER

Did the right hon. Gentleman assent to the suggestion of illegal evasion?

Mr. CHAMBERLAIN

No, I did not.

Back to