# Finance Act 1940, Paragraph 1


On an appeal against an assessment to excess profits tax for any period, the amount of the assessment shall not, except with the concurrence of the Commissioners, be reduced below the excess of—
(a) the amount of the national defence contribution which would have been assessable for that period if no excess profits tax had been assessable therefor;
over—
(b) the amount of any subsisting assessment to the national defence contribution for that period.

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Source: https://www.legislation.gov.uk/ukpga/Geo6/3-4/29/schedule/Sixth./paragraph/1 (the official version)
Page: https://openlegislation.uk/finance-act-1940/schedule-Sixth./paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.