INCOME TAX – SELF-EMPLOYMENT INCOME – EXPENSES – journalist and author writing a book about life on a boat in France – expenses for (1) transport of boat from the UK to France, (2) repairs and improvements to the boat in preparation for the voyage in France, (3) cost of mooring the boat in France, (4) insurance of the boat while in France – whether deductible as ‘wholly and exclusively laid out or expended for the purposes of the trade’ (ITTOIA s.34) – yes in the particular circumstances of the case as to (1) – no in the particular circumstances of the case as to (2), (3) and (4) – Appeal allowed in part
Citations:
[2012] UKFTT 79 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 23 June 2022; Ref: scu.450806