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Income Tax (Subscriptions)

Volume 388: debated on Thursday 1 April 1943

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asked the Chancellor of the Exchequer what amount of Income Tax was repaid by the Inland Revenue for the year ended 5th April, 1942, in respect of subscriptions paid under convenant to institutions whose income is by law exempt from Income Tax; and whether he can give an estimate of the amount of Surtax affected by this concession?

It is estimated that the amount of tax involved is about £2,000,000 for Income Tax and £1,000,000 for Surtax.