Letter from Turquand, Youngs, McAuliffe & Co., CUP's accountants, to Inland Revenue, 13th February 1942

TURQUAND, YOUNGS, McAULIFFE & CO.
19 Coleman Street, E.C.2.

Reference JBPW/WNP/FEB

H.M. Inspector of Taxes,
Euston District,
Central House,
Upper Woburn place, W.C.1.

Dear Sir,

Cambridge University Press.
Your Ref: 60178/GHH.

Referring to our interview with you this morning, we confirm that our notification of claim under Section 34 for the year 1938/39 was merely a protective notice submitted at the time of the exemption appeal to cover such items as taxed interest, the Case I assessment for 1938/39 having been in any case eliminated by the Section 33 carry-forward. We shall be glad, therefore, if you can permit us to withdraw the notice. By so doing, we appear to lose our right to claim back the tax on £18.11.4 mentioned in our letter of the 23rd June last, but this is not important.

You mentioned that you thought we had in mind the possibility of applying a Section 34 claim in such a way as to set off an actual publishing loss in London against a Case I assessment for Cambridge (printing department) thus taking the loss against the results of the preceding year, which could not be done under Rule 13. We had not considered this possibility, but we shall be glad to hear whether you consider that the Statutes permit this so that we may have the point in mind for the future.

Yours faithfully

Turquand, Youngs, McAuliffe & Co.