Income Tax (Company Profits)

HC Deb 12 December 1955 vol 547 c143W

Viscount Hinchingbrooke

asked the Chancellor of the Exchequer the yield of Income Tax on the profits of companies and public corporations.

Mr. R. A. Butler

£696 million, on the basis of the Budget estimates for the current year. This figure excludes tax which, though payable by companies, is passed on to persons by deduction from interest and dividends.