MDC wins tax fight
26 March 1999
MDC wins tax fight
THE Milk Development Council has won its long-running fight to escape a hefty tax bill.
The spectre of a £1m-plus bill was hanging over the farmer-funded research body, relating mainly to the surplus generated soon after it was formed.
But the Department of Trade and Industry last week granted it tax exemption for the 1995-1998 period. "We are very pleased, it was the ruling we were looking for," said MDC chairman, Brian Peacock. "It means that all the farmers levy money will be going to research and none will be going back to the taxman."
The group raises about £5m a year from its statutory 0.04p/litre levy on milk. *
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