Legal expenses incurred by a professional in defending disciplinary proceedings are deductible from taxable profits. Citations: Times 12-May-1997, [1997] EWCA Civ 1627 Statutes: Income and Corporation Taxes Act 1970 130(a) Jurisdiction: England and Wales Citing: Appeal From – McKnight (Inspector of Taxes) v Sheppard; Sheppard v McKnight ChD 21-May-1996 Legal costs and fines not deductible … Continue reading David McKnight (Inspector of Taxes) v Sheppard: CA 7 May 1997
In computing company’s tax liability excessive pay not deductible. Citations: Times 28-May-1993 Statutes: Income and Corporation Taxes Act 1970 130 Jurisdiction: England and Wales Citing: Appealed to – Earlspring Properties Ltd v Guest (Inspector of Taxes) CA 1-May-1995 A close company has an additional obligation to notify the Revenue that a loan was chargeable to … Continue reading Earlspring Properties Ltd v Guest (Inspector of Taxes): ChD 28 May 1993
The taxpayer, a lady barrister, sought to set off against her liability to tax, the cost of purchasing clothing which she would only wear at court in accordance with professional requirements. The clothing although subdued consisted of perfectly ordinary articles of apparel suitable for everyday wear. But for the requirements of her profession that she … Continue reading Mallalieu v Drummond: CA 1983
Expenditure does not qualify for deduction if the object of the expenditure was to serve another private purpose in addition to the business purpose for which it was purportedly incurred. HL Income Tax – Schedule D Case II – Computation of partnership profits – Large firm of Accountants – Reimbursement of removal expenses of partners … Continue reading MacKinlay (Inspector of Taxes) v Arthur Young McClelland Moores and Co: HL 23 Nov 1989
HL Corporation Tax – Deductibility of expenditure – Capital or revenue expenditure – Group relief – Individuals involved in a joint venture, several companies being involved – One company advancing funds – Whether those monies deductible as wholly and exclusively expended in the course of a trade – Income and Corporation Taxes Act 1970, s … Continue reading NAP Holdings UK v Whittles (Inspector of Taxes): HL 17 Nov 1994
The taxpayer was a barrister. To comply with Bar guidance on court dress, she wore, in court and in and to and from chambers black dresses, suits and shoes and white blouses. The clothing were perfectly ordinary articles suitable for everyday wear. But for her professional requirements she would have not purchased those clothes. She … Continue reading Mallalieu v Drummond: HL 27 Jul 1983
HL Income tax, Schedule E – Non-resident employer – Employees working in U.K. sector of North Sea – Whether employer liable to deduct tax from emoluments – Income Tax (Employments) Regulations 1973 – Income and Corporation Taxes Act 1970, s 181 and s 204 – Finance Act 1973, 5 38 – Continental Shelf Act 1964 … Continue reading Clark (Inspector of Taxes) v Oceanic Contractors Inc: HL 16 Dec 1982
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