Lord Maugham said that for a payment to be an ‘annual payment’ within the meaning of rule 21 it ‘must be taken to have, like interest on money or an annuity, the quality of being recurrent or being capable of recurrence’.
 AC 785,  3 All ER 381
England and Wales
Cited – Revenue and Customs v Joint Administrators of Lehman Brothers International (Europe) SC 13-Mar-2019
The Court was asked whether interest payable under rule 14.23(7) of the Insolvency Rules 2016 is ‘yearly interest’ within the meaning of section 874 of the Income Tax Act 2007. If so, the administrators must deduct income tax before paying interest . .
Lists of cited by and citing cases may be incomplete.
Updated: 17 January 2022; Ref: scu.671251