Depreciatory transactions. Section 176 TCGA 1992 (formerly s.280 TA 1970).The machinery of section 176 (reduction of allowable loss on a disposal of shares in a company if the company has previously disposed of assets at an undervalue to another group member) applies to reduce the allowable loss after indexation – so the taxpayer does not retain the benefit of the indexation allowance.Andrew Park KC and Hugh McKay appeared for the taxpayer
Tesco plc v. Crimmin (Inspector of Taxes)  STC 981 (Ch D)
GITC is sad to report the death of our Head of Chambers, Mr Milton Grundy who passed away at the weekend.
Gray’s Inn Tax Chambers is deeply saddened by the passing of our founding member and Head of Chambers, Mr Milton Grundy
28 Nov 2022
Gray’s Inn Tax Chambers is deeply saddened to learn of the death of Her Majesty Queen Elizabeth II.
We join the nation in mourning and our condolences are with the Royal Family.
09 Sep 2022
The 2022 GITC Review is now available
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