§ 66. Sir H. Williamsasked the Chancellor of the Exchequer whether the advertising of British Railways, the 168W National Coal Board, the British Electricity Authority and the National Gas Board for the purpose of reducing the demand for their respective goods and services will be an allowable expense for Income Tax purposes.
§ Mr. GaitskellI cannot supply information about the Income Tax treatment of particular concerns. The general rule, as the hon. Member is no doubt aware, is that advertising expenditure is deducted in computing profits for Income Tax purposes if it is incurred wholly and exclusively for the purpose of the business in question.