UTTC PARTNERSHIP – whether a member of a limited liability partnership was entitled to deduct a payment of 300,000 Euros (215,455 pounds) to settle German litigation in computing his liability to tax on his share of LLP profits – whether the payment was an expense incurred wholly and exclusively for the purposes of the LLP’s trade or of the individual member’s ‘notional’ trade – whether the payment was revenue or capital expenditure
[2016] UKUT 2 (TCC)
Bailii
England and Wales
Income Tax
Updated: 14 January 2022; Ref: scu.562417
