Taylor (Inspector of Taxes) v MEPC Holdings Ltd: ChD 12 Jun 2001
The amount of loss available to a company for surrender was restricted to trading losses or capital allowances, and was not to include allowable losses. The sums to be surrendered were those which might appear in a calculation of profits for the period. Therefore allowable losses from previous years activities were not to be brought … Continue reading Taylor (Inspector of Taxes) v MEPC Holdings Ltd: ChD 12 Jun 2001