Kirkham v Williams (Inspector of Taxes)
Kirkham v Williams (Inspector of Taxes)
- 1991
- Weekly Law Reports (1991) 1 WLR 863-879(17) .
CA 24 May 1991. It was held that the taxpayer bought land, which he developed and sold, as a capital asset of his business and not as trading stock. Therefore profit from the sale was not trading profit within Income and Corporation Taxes Act 1970 s109 and to be assessed for tax under Schedule D Case 1.
CA 24 May 1991. It was held that the taxpayer bought land, which he developed and sold, as a capital asset of his business and not as trading stock. Therefore profit from the sale was not trading profit within Income and Corporation Taxes Act 1970 s109 and to be assessed for tax under Schedule D Case 1.