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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

Taylor (Her Majesty’s Inspector of Taxes) v MEPC Holdings Limited: HL 18 Dec 2003

The taxpayer company made a smaller profit than its charges, and sought to reallocate the charges against income for other companies within the group. It could do so, but the difference arose over the period for which surrender would be alowed. Held: The term ‘relief’ is not a term of art. The Income and chargeable … Continue reading Taylor (Her Majesty’s Inspector of Taxes) v MEPC Holdings Limited: HL 18 Dec 2003