§ Mr. Hordernasked the Chancellor of the Exchequer how much is received by the Inland Revenue in corporation tax on companies profits above £100,000.
§ Mr. WakehamCorporation tax on profits earned in 1982–83 above the proposed lower limit for small companies relief of £100,000 contained in the Finance Bill is tentatively estimated at £6½ billion. This estimate includes advance corporation tax on dividends paid in the year; therefore, any companies paying ACT but with no taxable profits will be included in this figure. It also includes corporation tax on profits below £100,000 earned by associated companies.