§ Mr. Toucheasked the Chancellor of the Exchequer whether he can give any estimate of the amount of revenue likely to be received from the charge of National Defence Contribution during the present financial year?
§ Lieut.-Colonel ColvilleI would refer my hon. Friend to the answer which I gave this afternoon to a similar question by my hon. Friend the Member for Tam-worth (Sir J. Mellor), of which I am sending him a copy.
§ Mr. Edeasked the Chancellor of the Exchequer whether he will state the sum payable under the revised charge of National Defence Contribution by companies whose profits, as computed for the purposes of the tax, are 3,000, £4,000, £5,000, £6,000, £8,000, £9,000, £10,000, £11,000, £12,000, and 13,000, respectively?
§ Lieut.-Colonel ColvilleThe tax payable by companies is 5 per cent. on the profits, less an abatement of one-fifth of the sum by which the profits fall short of £12,000, and the tax figures for the profits figures mentioned in the question accordingly are as follow:
Profit. Tax. £ £ 3,000 … … … 60 4,000 … … … 120 5,000 … … … 180 6,000 … … … 240 7,000 … … … 300 8,000 … … … 360 9,000 … … … 420 10,000 … … … 480 11,000 … … … 540 12,000 … … … 600 13,000 … … … 650