§ Mr. Barnettasked the Chancellor of the Exchequer (1) in each of the years for which information is available, how many shortfall directions have been made on close companies that are treated as trading companies for corporation tax purposes; and what proportion this represents of the total close companies assessed each year;
(2) in each of the years for which the information is available, how many close companies that are treated as trading companies for corporation tax purposes, have paid a dividend; and what proportion this represents of the total close companies assessed each year.
§ Mr. Patrick JenkinThe information is not available in the form requested. However, in a survey covering the year to 30th June, 1970, 7 per cent. of the close trading companies reviewed were liable to shortfall and 40 per cent. paid dividends. The review covered only companies with distributable profits exceeding £100.