In the ordinary course of business as a brewery the appellants owned and let to tenants licensed premises, against the rents of which they claimed to set as a deduction in reckoning the profits expenditure incurred in respect of ( a) repairs, ( b) the difference between the actual and assessed rentals, ( c) insurance premiums, and ( d) legal costs in connection with the licences.
Held that all the deductions claimed ought to be allowed.
Judges:
Earl Loreburn, Lords Atkinson, Parker, Sumner, and Parmoor
Citations:
[1914] UKHL 894, [1914] UKHL TC – 6 – 399, [1915] AC 433, 6 TC 399, 52 SLR 894
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 26 April 2022; Ref: scu.620737