HC Deb 06 August 1940 vol 364 c43W
Sir A. Beit

asked the Chancellor of the Exchequer whether he would be prepared to allow limited liability companies subscribing to collections to present aircraft to the nation, to treat such subscriptions as charitable payments and as an expense to be deducted before determining the profits of the company?

Sir K. Wood

I am unable to adopt my hon. Friend's suggestion, which would involve a definite departure from the general principles of the Income Tax.