Special Commissioners: John Walters QC and Stephen Oliver QC

Decision released 24 May 2005

Corporation Tax – Promotional expenses, whether disallowed in whole or in part as expenses incurred in providing business entertainment – s.577 ICTA 1988 – Held they were in part – Appeal allowed in part

CORPORATION TAX – Relief for trading losses carried forward – s.393(1) ICTA 1988 – whether the trade in the accounting periods in which the losses were incurred was the same trade as that carried on in the accounting period when relief was claimed – Held it was not – Appeal dismissed

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