Chancery Division.

Park J.

Judgment delivered 13 March 1998.

Corporation tax – Small companies relief – Sole asset of company associated with the taxpayer was a bank account yielding interest – Whether associated company was trading – Income and Corporation Taxes Act 1988, s. 13(4).

  This was an appeal by the Revenue against a decision of a special commissioner that a company which had no activity or income other than interest paid on a deposit account was not carrying on any trade or business for the purpose of small companies relief under the Income and Corporation Taxes Act 1988, s. 13(4).

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