HC Deb 07 December 1943 vol 395 c783W
Mr. A. Edwards

asked the Chancellor of the Exchequer what is the position of companies with Excess Profits Tax post-war credit which go into liquidation during the war; and if the liquidator is permitted to count such credits as assets?

Sir J. Anderson

I would refer my hon. Friend to the provisions of Section 37 of the Finance Act, 1942, from which he will see that repayment of the E.P.T. Post-War Credit is dependent upon conditions to be determined hereafter by Parliament being satisfied. Until those conditions have been defined I am afraid that it is not possible to say how companies going into liquidation will be affected, but I would point out that Section 37 contemplates conditions relating to the distribution and application of profits for the benefit of shareholders.