§ 16. Captain Orrasked the Chancellor of the Exchequer if he will give an estimate of the total annual cost of withdrawing the restriction placed by Section 350 of the Finance Act, 1952, upon the relief or repayment allowed by the Treasury in respect of tax deducted by United Kingdom companies granted double taxation relief when paying dividends.
§ Mr. H. MacmillanNo central record is kept of the number of cases or the amount of tax affected by this restriction, but the cost of withdrawing it might be estimated at about £1 million.
§ 17. Captain Orrasked the Chancellor of the Exchequer the total amount of double taxation relief granted in the last full year to United Kingdom companies.
§ Mr. H. MacmillanThe total relief granted in assessments made in 1954–55 is estimated at about £110 million, nearly all of which relates to companies.