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Inland Revenue climbdown.

Series: Financial Times ; 21 July 1999, 18(1)Publication details: 1999Subject(s): Summary: The Inland Revenue has conceded defeat in two tax cases, allowing companies to cut their taxable profit by taking account of certain future losses, particularly those accurately forecast on long-term contracts which are common in the construction industry.

The Inland Revenue has conceded defeat in two tax cases, allowing companies to cut their taxable profit by taking account of certain future losses, particularly those accurately forecast on long-term contracts which are common in the construction industry.