DAVIES v ABBOTT (H.M. INSPECTOR OF TAXES).(1) (1926-27) 11 TC 575
NO. 610.–HIGH COURT OF JUSTICE (KING’S BENCH DIVISION).–
15TH AND 16TH JUNE, 1926.
COURT OF APPEAL.–
17TH FEBRUARY, 1927.
Income Tax, Schedule A – Annual value – Premium paid for lease.
A lease of certain premises was granted on the 10th June, 1918, for a term of 14 years from the 24th June, 1919, in consideration of a premium of £200 and an annual rent of £30, the lessee covenanting to do all repairs internal and external (except to the roof). The gross estimated rental for Poor Rate purposes was £35.