HC Deb 28 July 1975 vol 896 cc342-3W
Mr. Hordern

asked the Chancellor of the Exchequer what part of the present yield of corporation tax derives from close companies.

Mr. Joel Barnett

For profits arising in company accounting periods ending in 1971–72, the latest year for which reasonably full information is available, it is estimated that approximately one-third of the tax due derived from close companies.