Damages are taxable profits
Damages are taxable profits
- 1987
- Times 20/6/87 p40 .
In Donald Fisher (Ealing) Ltd v Spencer (Inspector of Taxes) , ChD 11 June 1987, the taxpayer company received 14,000 in settlement of a claim against its negligent estate agent who had failed to serve a counternotice objecting to a rent review clause, resulting in increased rent. ChD held that the payment was a trading receipt taxable under Sch D, Case 1.
CORPORATION TAX
NEGLIGENCE
In Donald Fisher (Ealing) Ltd v Spencer (Inspector of Taxes) , ChD 11 June 1987, the taxpayer company received 14,000 in settlement of a claim against its negligent estate agent who had failed to serve a counternotice objecting to a rent review clause, resulting in increased rent. ChD held that the payment was a trading receipt taxable under Sch D, Case 1.
CORPORATION TAX
NEGLIGENCE