§ Mr. ISAAC FOOTasked the Chancellor of the Exchequer whether he can state the estimated profits of breweries as computed for Income Tax purposes for the Income Tax year 1934–35?
Mr. CHAMBERLAINThe profits of brewing concerns for accounting years ended in the Income Tax year 1933–34, which formed the basis for the 1934–35 assessments, are estimated at about £18,000,000, after allowance for wear and tear of plant and machinery and including all ancillary profits. Estimates of the2684W profits made in the accounting years ended in 1934–35 which will come under Income Tax assessment for the year 1935–36 are not yet available.