Chancery Division.

Judgment delivered 9 May 1984.

Corporation tax – Deductible expenditure – Cessation of business – Payments to employees – Payments made in addition to statutory requirement – Whether payments made wholly and exclusively for the purposes of the company’s trade – Income and Corporation Taxes Act 1970, sec. 130(a).

  This was an appeal by the Crown from a determination of the Special Commissioners that payments of £8,085 made by Southport Printers Ltd. (‘the company’) to 27 of its employees were deductible under ICTA 1970, sec. 130(a), for the purpose of computing the profits of the company’s trade.

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