Corporation Tax (Co-operative Societies)

HC Deb 01 July 1966 vol 730 c338W

Mr. William Hamilton

asked the Chancellor of the Exchequer, what estimate he has made of the relief the co-operative socities will get from the change to the Corporation Tax system from the Income Tax and Profits Tax system.

Mr. Callaghan

It is not possible to estimate this exactly, but the relief is likely to be at least £2 million a year and may well be more.