FTTTx Income Tax – Whether payment of 300,000 euros (215,455 pounds) to settle German litigation was an expense incurred wholly and exclusively for the purposes of the trade or profession of an individual partner – Whether the payment was revenue or capital expenditure – Whether deductible under s 34 Income Tax (Trading and Other Income) Act 2005 – Appeal allowed
Brooks TJ
[2013] UKFTT 576 (TC)
Bailii
Income Tax (Trading and Other Income) Act 2005 34
England and Wales
Income Tax
Updated: 26 November 2021; Ref: scu.517745