Walker (H.M. Inspector of Taxes) v Joint Credit Card Company Ltd.  BTC 168
Judgment delivered 23 February 1982.
Corporation tax – Deductible expenditure – Whether payment of capital or income nature – Payment made to close down competitor – Whether short-term or permanent advantage obtained – Income and Corporation Taxes Act 1970.
The taxpayer company is in the business of providing a credit card service in the UK. A payment made by it to secure the closure of a competitor’s business in the UK was found by the Special Commissioners to have been made on income account. The Crown appealed from that finding.