Clause 19. — (Interest Payable Abroad to Be Deductible in Computing Profits in Certain Cases.)

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 23 June 1949.

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Photo of Mr Terence Donovan Mr Terence Donovan , Leicester East 12:00, 23 June 1949

That is because the property for which the rent is paid is outside the partnership capital.