Sadler v the South Staffordshire and Birmingham District Steam Tramways Co: CA 26 Jun 1889

Interest upon a loan by a banker to a customer for a period of less than a year is not within the words ‘ any yearly interest of money or any annuity or other annual payment ‘ in 16 and 17 Viet. c. 34, s. 40, and therefore the customer is not entitled to deduct income tax from such interest. So held, reversing the decision of the Queen’s Bench Division

[1889] UKLawRpKQB 113, (1889) 23 QBD 324
England and Wales
Cited by:
CitedRevenue 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.

Income Tax

Updated: 17 January 2022; Ref: scu.671257