The Practice And Law of Excess Profits Duty

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W. T. Walton, West Hartlepool.
Mr. W. McLintock, Glasgow.
The following Merchants and Traders : — Sir Jeremiah Coleman.
Mr. CD. Morton, London.
Mr. Howard Williams, London.
Mr. W. Penrose-Green, Leeds.
Mr. L. F. Massey, Manchester.
Mr. Walter Tyzack, Sheffield.
Mr. J. A. Jones, Cardiff and Newcastle.
Mr. A. W. Faire, Leicester.
Controlled Trading Concerns.
The Act only charges Excess Profits Duty in respect of accounting periods which ended between 4th August 19 14 and ist July 191 5, and the r
...eason of the adoption of a period less than a year is that the Munitions of War Act, 191 5, came into operation on 2nd July 191 5, while, under that Act, the concerns in question have to hand over to the Crown certain excess profits so that the Finance (No. 2) Act, 191 5, covers all concerns whether now controlled or not.
The Munitions of W^ar Act, 191 5, pro- vides that trading establishments manu- facturing munitions may be controlled by the Government, and inter alia any excess 52 GENERAL.
profits must be paid to the Revenue.


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