§ 62. Mr. A. Edwards
asked the Chancellor of the Exchequer whether, in applying the Excess Profits Tax concession under which directors' remuneration paid to a director serving in His Majesty's Forces is allowed as a charge in computing the profits of the company for Excess Profits Tax, it is the custom of the Inland Revenue to deduct the amount of the Service pay and family allowances received by the director.
§ Mr. Dalton:
No, Sir. The remuneration is allowed in full, subject to the amount paid not being in excess of what is reasonable and necessary.