§ 68 and 69. Mr. Pavittasked the Chancellor of the Exchequer (1) if the general subscription and any special turnover subscription paid by companies to the Association of the British Pharmaceutical Industry are allowable as expenses and completely exempt from taxation;
(2) if subscriptions and donations to the Office of Health Economics are allowed as business expenses to the companies making them and are allowable against tax liability.
§ Mr. Harold LeverThese two organisations are treated for taxation purposes68W as a single body having the status of a trade protection association. Accordingly ordinary subscriptions by members are allowed as deductions in computing their taxable profits.