Chancery Division.

[The appeal against this decision is reported at [1997] BTC 328.]

Lightman, J.

Judgment delivered 14 May 1996.

Income tax – Sch. D, Case I – Deduction of expenses – Stockbroker incurred legal costs in defending allegations of infringement of Stock Exchange regulations – Fines were imposed by Stock Exchange disciplinary tribunal – Whether legal costs and fines deductible from profits of stockbroker’s trade – Income and Corporation Taxes Act 1970, s. 130(a), (e) (Income and Corporation Taxes Act 1988, s. 74(1)(a), (e)).

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.