asked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing for each year since 1960 (a) the trading profit for tax purposes of (i) corporations and (ii) other
| £ million | |||||||
| Companies (*) | Other Persons(†) (Unincorporated businesses) | ||||||
| Gross(‡) trading profits | Capital(§) allowances: claimed | Stock(║) relief: claimed | Interest (¶) payments | Gross(**) trading profits | Capital(§) allowances: allowed | Stock(║) relief allowed | |
| 1960 | 3,736 | 1,213 | — | 378 | 1,629 | 200 | — |
| 1961 | 3,643 | 1,352 | — | 422 | 1,725 | 209 | — |
| 1962 | 3,595 | 1,451 | — | 469 | 1,774 | 219 | — |
| 1963 | 4,103 | 1,752 | — | 506 | 1,907 | 229 | — |
| 1964 | 4,544 | 2,040 | — | 603 | 1,974 | 258 | — |
| 1965 | 4,741 | 2,161 | — | 764 | 2,147 | 258 | — |
| 1966 | 4,592 | 1,839 | — | 1,005 | 2,278 | 247 | — |
| 1967 | 4,625 | 1,702 | — | 1,121 | 2,419 | 261 | — |
| 1968 | 5,254 | 1,839 | — | 1,335 | 2,663 | 278 | — |
| 1969 | 5,668 | 2,145 | — | 1,581 | 2,840 | 287 | — |
| 1970 | 6,035 | 2,525 | — | 1,752 | 3,137 | 328 | — |
| 1971 | 6,907 | 3,668 | — | 1,877 | 3,763 | 405 | — |
| 1972 | 8,072 | 4,569 | — | 2,145 | 4,635 | 511 | — |
| 1973 | 10,325 | 5,450 | 2,500 | 3,229 | 5,406 | 598 | — |
| 1974 | 11,469 | 6,598 | 5,500 | 4,272 | 5,684 | 711 | 58 |
| 1975 | 11,961 | 8,093 | 3,100 | 4,461 | 6,350 | 864 | 65 |
| 1976 | 15,530 | 9,269 | 5,350 | 4,899 | 7,438 | 1,000 | 115 |
| 1977 | 19,061 | 11,162 | 4,400 | 5,180 | 8,609 | 1,121 | 217 |
| 1978 | 21,594 | 13,090 | 3,900 | 5,364 | 10,315 | 1,389 | 265 |
| 1979 | 26,776 | 14,302 | 9,250 | 8,222 | 11,670 | 1,565 | 340 |
| 1980 | 24,979 | 16,356 | 5,200 | 11,965 | 12,900 | 1,740 | 240 |
Notes:
(*) Industrial and commercial; and financial.
(†) Figures of loan etc. interest paid in respect of the trade or profession are not available centrally.
(‡) As defined for the national accounts and published in the National Income Blue Book; before deducting depreciation and interest, net of trading
For accounting periods ending in the financial year 1980–81, corresponding approximately to activity in the calendar year 1980, the information is as in the following table.persons,
(b) capital allowances, (c) the stock relief and (d) the interest payments, in all cases excluding losses carried over from previous years.
The available information is shown in the following table and notes. The historical information In respect of trading profits for the companies sector is as shown in the national accounts, in which the definition differs in some respects from that used for tax purposes.
losses. These figures differ from income from trading as recorded for tax purposes mainly because of the different treatment of financial companies; interest received by financial companies is not included in the national accounts definition of trading profits. Income from non-trading activities, which is also assessed to tax is excluded.
(§) Net of balancing charges: capital allowances "biting" against profits in the same year are lower for the companies sector.
(║) Net of stock relief withdrawn: stock relief "biting" against profits in the same year is lower for the companies sector.
(¶) Consolidated for the company sector, i.e. excluding payments between companies. Interest payments by financial companies (other than to other companies) are included.
(** ) As assessed to income tax under Schedule D Cases I and II. Income from non-trading acitivities, which is also assessd to tax, is excluded. For years prior to 1973 the figures include small estimated amounts of profits not assessed because the taxpayers' total income were too small.