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Depreciation in Stock: Where Next?'

 
Maurice Parry-Wingfield Tax Director Deloitte applauds the Lords' landmark decision in favour of Mars and William Grant and describes the extent to which computations for earlier years can and should be adjusted
 
I call on readers' patience for the fourth and final time on the issue of the add-back of depreciation charged to stock — patience because I've previously written articles on the upshot of the Secan case 1 the Special Commissioners' decisions in the combined cases of Mars and William Grant2 and the High Court judgment in Mars 3 and the final time because the unanimous Lords' judgment in favour of the companies4 is the end of the long judicial road.
 
For cases that have previously produced so much heat and such conflicting results (in...

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