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London County Freehold and Leasehold Properties Ltd v Sweet: 1942

Expenditure by a property company on the issue of new debenture stock was not ‘expenses of management’ because raising capital was not part of the business of acquiring and managing property.

Citations:

(1942) 24 TC 412

Cited by:

CitedAtkinson (HM Inspector of Taxes) v Camas Plc CA 6-May-2004
An investment company made an abortive attempt to take over another. It sought to set off against its Corporation Tax, the costs of the professional advice incurred.
Held: The expenses were deductible. . .
Lists of cited by and citing cases may be incomplete.

Income Tax

Updated: 30 April 2022; Ref: scu.198424

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