Bolton (H.M. Inspector of Taxes) v International Drilling Co. Ltd. International Drilling Co. Ltd. v Bolton (H.M. Inspector of Taxes). 1983 BTC 3
Judgment delivered 29 November 1982.
Corporation tax – Capital allowances – Payment to secure release of option to purchase granted over taxpayer company’s asset – Whether capital or revenue – Whether expenditure on provision of an asset – Whether payment qualified for initial allowance or writing-down allowance – Capital Allowances Act 1968, sec. 18(1); 19(1).