Profits were taxable as a whole for a new business purchased and existing business. Business bought to incorporate in existing taxed on preceding year basis.
Citations:
Ind Summary 12-Jul-1993, Times 12-Jul-1993
Statutes:
Income and Corporation Taxes Act 1970 154, Income and Corporation Taxes Act 1988 113
Jurisdiction:
England and Wales
Income Tax
Updated: 04 June 2022; Ref: scu.83323
