§ Mr. CURRIEasked the Secretary to the Treasury whether, in view of certain Stock Exchange speculations which have taken place arising partly through uncertainty whether profits realised by the liquidator of a limited company selling off large stocks of whisky are liable to Excess Profits Duty, he can state whether such profits will be assessed to such duty?
§ Mr. MONTAGUThe profits made upon the sale of stocks of whisky belonging to a limited company trading in whisky are the profits of the trade or business. The fact that the company is in process of liquidation would not of itself remove the profits from the scope of the charge to Excess Profits Duty.