Leekes Ltd v HM Revenue & Customs, [2018] EWCA Civ 1185

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Summaries

Summary Under

ability of successor to apply predecessor losses to income from same trade did not extend to profits from an enlarged trade

The taxpayer (Leekes) carried on a trade of running department stores (three in Wales and one in Wiltshire) and acquired for nominal consideration...

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Summary Under

acquired business was segregated from its expanded component

A British taxpayer (Leekes) carrying on a retail trade through four stores acquired, for nominal consideration, all the shares of another company...

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