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HEADING:
OUP logo with the legend: DOMINUS ILLUMINATIO MEA Oxford University Press
Walton Street, Oxford OX2 6DP
Telephone 0865 567767 Cables clarendon press oxford Telex 837330
Secretary and Chief Executive G. B. RICHARDSON

G. B. R.

24 March 1977

Dear Sir,

Oxford University Press
Section 360, Taxes Act 1970

It has come to our notice that the Inland Revenue have accepted that the trading profits of the Cambridge University Press are exempt from tax under Schedule D under the provision of sub-section (1)(e)(i) of Section 360 of the Taxes Act 1970. This has led us to review the position of Oxford University Press and we have come to the conclusion that its profits should be similarly exempted.

As you will know, the Press is a Department of the University and exists to pursue its aims. It seeks, through its printing and publsihing (sic), to further education and disseminate knowledge world-wide and by doing so to complement and extend the teaching and research activities of the University. The trade in which it is engaged, given the character of the books it produces, is exercised in the course of the actual carrying out of its charitable purposes and the profits arising are devoted entirely to this end.

The University has vested control of the Press in a Delegacy, a body composed of members of the University who receive no remuneration for their services. It is the responsibility of the Delegates, who are scholars in a wide variety of fields, so to supervise the publishing of the Press as to ensure that it fulfils the charitable functions for which it was established.

We claim that in accordance with the conditions of Seciton (sic) 360 (1)(e)(i) the profits arising from the printing and publishing of the Press both in this country and in its offices overseas should be exempted from tax. We do not claim that the profits earned by the Wolvercote Paper Mill, which is owned by the Press, should be similarly exempted. These profits, to the extent that they are not required to maintain the operation, are used to support our publishing; nevertheless, the Paper Mill is no longer an integral part of the Press and we have for some time sought to dispose of it.

The Oxford and Cambridge Presses have the same aims and the same constitutional position within their respective Universities. We trust therefore that you will accept our claim, in which case we suggest that the assessments in all open years should be vacated. The earliest year which is still open is the year to 31 March 1970. [page 2]

We should, of course, be pleased to discuss with you any aspect of our claim and to provide any particular information you may require.

Yours truly,

G. B. Richardson

H. M. Inspector of Taxes,
Oxford 1 District,
57 Woodstock Road,
Oxford OX2 GHH.