Abstract
THE question of the taxation of educational and scientific institutions has very recently come prominently before the public, and indications exist that the Treasury is contemplating an important change in connexion with the policy hitherto pursued in granting exemption from income-tax to such institutions. The recent judgment of the House of Lords in the case of the Brighton College v. Marriott amounts to a declaration that any profits of an educational establishment which are used for educational purposes are the result of carrying on a trade and therefore taxable. The judgment in question may have far-reaching consequences, for it must be remembered that Brighton College is not only a public school, but also a “charitable institution.” Following closely on the above-mentioned judgment comes the public announcement from responsible officers of the Chemical Society of the receipt by this Society of a notification that the Inland Revenue authorities are about to challenge its right, as a “charitable institution,” to recover the tax deducted at the source from the interest on its invested capital (see NATURE, June 19, p. 859).
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Taxation of Research. Nature 118, 1–2 (1926). https://doi.org/10.1038/118001a0x
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DOI: https://doi.org/10.1038/118001a0x