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Taxes Act 1970 (Shortfall Assessments)

Volume 885: debated on Monday 27 January 1975

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asked the Chancellor of the Exchequer what are the number of cases in which a shortfall assessment was made under the provisions of Section 289 of the Taxes Act 1970 and the supplementary provisions in that Act relating to shortfall distributions, in the years of assessment 1971–72, 1972–73 and 1973–74, respectively.

I regret that information in the precise form asked for is not available. The estimated number of shortfall assessments by year ending in October for which the tax is payable is as follows for the three latest years:

Year ending OctoberEstimated number of assessments
197210,900
19739,200
19747,350