Beauchamp (H.M. Inspector of Taxes) v F.W. Woolworth plc.  BTC 233
House of Lords.
Lord Keith of Kinkel, Lord Brandon of Oakbrook, Lord Templeman, Lord Oliver of Aylmerton and Lord Goff of Chieveley.
Judgment delivered 8 June 1989.
Corporation tax – Losses – Exchange losses arising on repayment of foreign loans – Loans for five-year term – Whether loans were transactions on capital or revenue account – Whether losses deductible in computing corporation tax liability.