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No artifice
S controlled SPPL SSLL ML and MML. In 1966 MML vacated its premises and let them. It leased new premises which it shared with SPPL. In 1995 MML ceased trading and in 1996 MML and SPPL vacated the leased premises. MML continued to own its original premises and the rent it received in respect of them was its sole income after it ceased trading.
The small companies rate of corporation tax available to SPPL was restricted under TA 1988 s 13(3) and (4) on the grounds that in the accounting years 31 July 1998 to 2001 SPPL had three i.e. included MML rather than two associated companies.
The Special Commissioner held that for the purpose of the small companies rate MML had not traded in the years 1998 to 2001. The letting...
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