FTTTx Income Tax – Claim by an LLP to have incurred trading losses in relation to its trade of distributing films – Whether circular payments resulted in expenditure ‘not having been incurred’ – whether payments were deductible as trading expenses – whether part or all of any payments were capital payments – whether those payments that were deductible were deductible in the LLP’s first period of account or whether payments made in that period included pre-payments – Issues in relation to the Closure Notice – Appeal substantially dismissed
Citations:
[2010] UKFTT 6 (TC
Links:
Income Tax
Updated: 17 August 2022; Ref: scu.408891
