News of the Week
Page 18
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INCOME-TAX ALLOWANCES EXTENDED
ONCE more through the efforts of Mr. R. Hindley, hon. treasurer of A.R.O., an income-tax concession has been made. The additional wear and tear deduction for general A licences Pas now been authorized in respect of those working under A contract,
licences. .
NEW DRIVE FOR 'SCRAP METAL
UNDER a new Order by the Minister of 'Works and Planning, occupiers of all premises in England, Scotland and Wales on which there are three or more tons of metal suitable for scrap, must inform the Ministry within 30 clays of September 21. Returns must also be made within 30 days of ay -subsequent date on which such an amount of metal is so accumulated.
Metal, ferrous or non-ferrous, other than aluminium or magnesium or their alloys, is deemed suitable for scrap if it be, or form, part of any building, structure, plant or article which is disused, obsolete or redundant,lbr otherwise serving no useful purpose.
Premises, for the purpose of the Order, means any building or land assessed under Schedule A, or which is subject to valuation for rating. Forms may be obtained from "Scrap Recovery," Ministry of Works and Planning, Sanctuary Buildings, Great Smith Street, London, S.W.1.
As this is an extension of a previousOrder concerning -.certain areas, if returns have already been maderespect of premises in these, othrs need not be sent.
No machinery or plant will be taken against the will of the owner without right of appeal.
TILLING-STEVENS TRADING RESULTS
DURING the year ended March 3-1 last, the net revenue of TillingStevens, Ltd., after deducting all expenses, depreciation, provision for estimated taxation, and loss by subsidiary, amounted to 219,643, the sum being increased to 270,342 by the balance brought forward. The payment of a dIvidend of 71 per cent., less income tax, for the year takes 216,692, and leaves 253,850 to be carried forward.