HC Deb 22 November 1937 vol 329 c860
81. Mr. Thorne

asked the Financial Secretary to the Treasury, how many of the 35,000 companies have paid the first payment of the increased profits tax; and what was the amount paid up to the nearest available date?

Lieut.-Colonel Colville

I would remind the hon. Member that the assessment to National Defence Contribution follows the accounting period of the business, and that accordingly it is only those concerns whose trading year ended in the last seven months that are now coming under assessment to the tax. The work of assessment and collection has already commenced. The first batch of assessments was issued on 9th November; the duty is not due until one month after the date of assessment, but some 55 concerns have already paid the contribution, the receipt up to Saturday last being £3,600.