References: P.S. 1199/1950 64/GWB
Oxford University Press
Note of interview 17.10.50
Mr Broad of Deloittes called, accompanied by a colleague.
At the outset he explained that the governing body of the Press had decided not to ask for relief on investment income. They appreciated that this turned on whether the income was free to be applied to the general charitable purposes of the University. From their attitude it is clear that the latter condition is not present. In this respect there is no difference between investments in stock exchange and other securities and rents from let properties. Both rents and other investment income appear in the general fund and it was their understanding that there was no intention on the part of the governing body of the Press to allow any of this to be deflected to the general purposes of the University.
I said that in such circumstances the only relief possible was in respect of the Schedule A on premises owned and occupied.
I agreed that this could be claimed for the six years at present within time limit and application should be made to the Claims Branch.
I confirmed that the fact of relief on Schedule A by reference to Section 30, Finance Act, 1921 would not preclude the deduction of the annual value in the Case one, Schedule D computation.
Mr Miller, Private Secretary