Corporation tax. Accounting periods. ‚Äö√Ñ√∫Within the charge to tax‚Äö√Ñ√π – s.832(1) ICTA 1988.ACT paid on a dividend cannot be carried back and set against an earlier year’s corporation tax unless the dividend was paid in an accounting period of the company (s.239(3) ICTA 1988). The taxpayer company ceased trading on 6 January 1992 and accordingly an accounting period then ended. No new accounting period started (s.12(2) ICTA 1988) unless the company continued to be ‚Äö√Ñ√∫within the charge to corporation tax‚Äö√Ñ√π. The company had no source of income after 6 January 1992, with the result that after that date it was not within the charge to corporation tax and had no accounting period until 30 September 1993 when it placed ¬¨¬£2000 in an interest-bearing deposit account.David Goldberg KC and Conrad McDonnell appeared for the taxpayerUpheld on appeal.
Walker (Inspector of Taxes) v. Centaur Clothes Group Ltd  STC 72 (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
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