HC Deb 16 July 1925 vol 186 c1553W

asked the Home Secretary whether, in calculating the trading profits for the year ended 31st March, 1925, of the State-management districts, any amount has been allowed for Income Tax and Super-tax which would be payable if the business was conducted by private enterprise?


As stated in the Report of the State-management districts for the year ended 31st March, 1925, the profit and loss account for that year includes charges in respect of taxes other than Income Tax assessed under Schedule D. As regards Super-tax, this tax is not a charge against a company's trading profits and is not shown in the accounts of businesses conducted by private enterprise.