CORPORATION TAX – EXPENSES – Legal costs of bringing defamation proceedings – Legal costs paid solely by the Appellant company but both the Appellant company and its sole director named as claimants in the defamation proceedings – Defamation proceedings alleging that defendants had published a defamatory statement to the effect that the Appellant company’s sole director had lied to clients – Whether legal costs of defamation proceedings were ‘wholly and exclusively laid out or expended for the purposes of the trade or profession’ (ICTA s.74) – yes in the particular circumstances of the case – Appeal allowed
[2011] UKFTT 715 (TC)
Bailii
Income and Corporation Taxes Act 1988
England and Wales
Corporation Tax
Updated: 12 January 2022; Ref: scu.449663
