Transaction not adventure in trade
Transaction not adventure in trade
- 1991
- Times 18/6/91 p31 .
In Kirkham v Williams (Inspector of Taxes) , it was held that the profit from a one-off transaction of purchase, development and sale of a property by a self-employed dealer did not arise from an adventure in the nature of trade and was not assessable to Schedule D income tax . Crown was refused leave to appeal.
ENSIGN TANKERS LEASING LTD V STOKES
ISWERA V IRC
LAW CASE
TAYLOR V GOOD
In Kirkham v Williams (Inspector of Taxes) , it was held that the profit from a one-off transaction of purchase, development and sale of a property by a self-employed dealer did not arise from an adventure in the nature of trade and was not assessable to Schedule D income tax . Crown was refused leave to appeal.
ENSIGN TANKERS LEASING LTD V STOKES
ISWERA V IRC
LAW CASE
TAYLOR V GOOD