Capital allowances – expenditure on research and development – whether partnership trading – quantum of expenditure incurred on research and development – whether trade conducted on a commercial basis – location of partnership’s trade – income tax relief for interest incurred on borrowings to fund partnership capital – deductibility of fee incurred by partnership in consideration for services – whether wholly and ordinarily incurred for the purpose of the partnership’s trade
[2014] UKUT 389 (TCC), [2015] STC 179, [2014] BTC 525
Bailii
England and Wales
Income Tax
Updated: 15 November 2021; Ref: scu.537628