§ Mr. Hooleyasked the Chancellor of the Exchequer how much deferred tax due from companies in 1974–75, 1975–76 and 1976–77 has since been paid.
§ Mr. Denzil Davies, pursuant to his reply [Official Report, 1st March 1978; Vol. 945, c. 268], gave the following information:
I assume that my hon. Friend has in mind additional payments of corporation tax resulting from withdrawals of stock relief where the book value of a company's stocks has fallen. These cannot be identified in tax receipts and at present no reliable estimates are available centrally of their effect on tax liabilities. However, it is hoped that preliminary figures will be available by the end of the year.