Deductible expenses. Section 74 ICTA 1988. A one-off payment to terminate an onerous contract was deductible in computing profits for corporation tax purposes. The payment was held to be of a revenue nature and was wholly and exclusively for the purposes of the taxpayer’s trade rather than the trades of its subsidiaries.Michael Flesch KC and Felicity Cullen appeared for the taxpayer
Vodafone Cellular Ltd v. Shaw (Inspector of Taxes)  STC 734 (C.A.)
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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