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Surtax Yield

Volume 360: debated on Thursday 9 May 1940

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asked the Chancellor of the Exchequer how much revenue from Surtax is estimated will be lost as a result of his proposal to limit the rate of dividends of public companies?

The yield of Surtax in the current year will not be affected by the proposal to which my hon. Friend refers. The Surtax on assessments which will include dividends paid this year, does not become payable until 1st January, 1942; and I am not in a position to forecast the yield of that tax in future years.