§ 49. Mr. Higgsasked the Chancellor of the Exchequer how many private limited companies have been charged surtax for the financial years from the 6th April, 1938, to the 5th April, 1939, and from the 6th April, 1942, to the 5th April, 1943, because they did not distribute a reasonable part of their profits; and how many such companies have received notice of the intention to charge.
§ The Financial Secretary to the Treasury (Mr. Assheton)I have been asked to reply. The number of companies in the case of which a direction and apportionment resulting in a charge was made under Section 21 of the Finance Act, 1922, on the ground that a reasonable part of the income of the company had not been distributed was 218 for the year 1938–39 and 30 for the year 1942–43. The number of companies in the case of which notice of intention was given under Section 18 of the Finance Act, 1926, was 57 for the year 1938–39 and four for the year 1942–43.