CORPORATION TAX – trading profits – deductibility of expenses – contribution by UK member of group to legal costs of prosecution in United States of directors and US parent company for alleged violations of Cuban embargo – whether for purposes of UK company’s trade – on facts, held no – whether decision to allocate costs as between US and UK companies taken by same directors solely in interests of UK company – no – held that expenditure not incurred wholly and exclusively for purposes of UK company’s trade – appeal dismissed
[2012] UKFTT 475 (TC)
Bailii
England and Wales
Corporation Tax
Updated: 17 November 2021; Ref: scu.466054