London and Thames Haven Oil Wharves Ltd v Attwooll: CA 1966

When asking whether a payment of damages was a capital or income receipt, the court should ask whether the sum which the trader ought to have received have been credited as an income receipt of the trade?

Judges:

Diplock LJ

Citations:

[1966] 43 TC 491

Jurisdiction:

England and Wales

Cited by:

CitedAble (UK) Ltd v Revenue and Customs CA 22-Nov-2007
The taxpayer company had received compensation for having been excluded from its business premises for a period until a compulsory purchase process failed. It treated the receipt as capital. The revenue said it was income.
Held: The court . .
Lists of cited by and citing cases may be incomplete.

Corporation Tax

Updated: 07 May 2022; Ref: scu.261558