36 Queen Street, London, EC4R 1BN | +44 (0)20 7242 2642
Vodafone Cellular Ltd v. Shaw (Inspector of Taxes) [1997] STC 734 (C.A.)

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

Latest news:

Gray’s Inn Tax Chambers are delighted to announce Michael Firth is to be appointed King’s Counsel as per the new Silk appointments announced on Friday 19th January 2024.
22 Jan 2024
Gray’s Inn Tax Chambers are delighted to have won two awards at this year’s Chambers UK Bar Awards ceremony held on 30 November.
04 Dec 2023
GITC Review
The 2022 GITC Review is now available
If you would like to be added to the mailing list for future issues of the GITC Review, please send an email to Jane.Fullbrook@taxbar.com.
Read review