HC Deb 15 December 1949 vol 470 cc292-3W
66. Colonel Gomme-Duncan

asked the Chancellor of the Exchequer to what extent sums set aside by co-operative societies for education are assessed for purposes of income and other appropriate tax; and what amounts were assessed and received under this heading by the Treasury in 1938, 1947 and 1948 respectively.

Mr. Glenvil Hall

Sums actually expended, unless of a capital nature, are allowed as a deduction in computing the profits of societies for taxation purposes, but I regret that the information for which the hon. Member asks in the latter part of his question is not available.