References: T/1085/80 1940, X.36122
The Syndics of the Cambridge University Press.
Secretary, Taxes.
When the liability of University press's was originally discussed on T.1128/11/27 [in 1927] the Chairman of the Board said "prima facie chargeable."
The Cambridge University Press have now claimed exemption from income tax on their profits under Section 24 the Finance Act, 1927. I have refused relief and they are making an application under Section 19 of the Finance Act, 1925. They argue that the Press is wholly the property of the University. It is managed by the Syndics of the Press, the Committee appointed to manage the business. (Letter dated 29/11/34). A note by the Inspector Cambridge 1 on Statutes and Ordinances of the University (Press) is flagged. They, therefore, claim that the University is the charity which carries on the trade, and have told me verbally that they wish to contend that the profits arise from the actual carrying out of a primary purpose of the Charity.
A description of the nature of the business and of the books published and printed is attached to the notes of my interview with the Secretary, Mr Roberts, on the 25th January, 1940. The arguments on both sides are also reported in those notes.
As to the question of competition with outside trade, reference may be made to the Minutes of Evidence of the Royal Commission on the Income Tax No. 17,162, and to Mr Minnis' note on T.1085/58/35, the Maghera Select Vestry.
A precis shewing the profits and assessments is attached