– see also Trade receipts

Acquisition of trade, receipts from transferor's trade

Commentary – Tax Reporter ¶222-150 ; Tax Reporter ¶709-050
HMRC Guidance – BIM40265
Case Law – Rafferty v R & C Commrs

Agency agreements, amounts received for cancellation/assignment

Commentary – Tax Reporter ¶220-250 ; Tax Reporter ¶708-660
Case Law – (1) CHIBBETT (H.M. INSPECTOR OF TAXES) v. JOSEPH ROBINSON AND SONS. (2) THE COMMISSIONERS OF INLAND REVENUE v. JOSEPH ROBINSON AND SONS. ; Anglo-French Exploration Co., Ltd. v. Clayson (H.M. Inspector of Taxes) ; BARR, CROMBIE & CO., LTD. v. COMMISSIONERS OF INLAND REVENUE ; Commissioners of Inland Revenue v. David C. MacDonald & Co. ; Commissioners of Inland Revenue v. Fleming & Co. (Machinery), Ltd. ; Elson (H.M. Inspector of Taxes) v. James G. Johnston, Ltd. ; KELSALL PARSONS & CO. v. COMMISSIONERS ON INLAND REVENUE ; Sabine (H.M. Inspector of Taxes) v. Lookers, Ltd. ; Wiseburgh v. Domville (H.M. Inspector of Taxes)

Capital allowances

Commentary – Tax Reporter ¶707-030

Compensation

Deficient services

Commentary – Tax Reporter ¶220-750 ; Tax Reporter ¶708-760

Financial loss allowance

Commentary – Tax Reporter ¶220-800
HMRC Guidance – BIM40475
Case Law – London & Thames Haven Oil Wharves Ltd. v. Attwooll (H.M. Inspector of Taxes)

Land

Commentary – Tax Reporter ¶220-650 ; Tax Reporter ¶708-730
Case Law – (1) BOYCE (H.M. INSPECTOR OF TAXES) v. THE WHITWICK COLLIERY CO., LTD. (2) THE COALVILLE URBAN DISTRICT COUNCIL v. BOYCE (H.M. INSPECTOR OF TAXES) ; Commissioners of Inland Revenue v. Butterley Co., Ltd. ; Commissioners of Inland Revenue v. Parkhouse Collieries, Ltd. ; LEGGE (H.M. INSPECTOR OF TAXES) v. FLETTONS, LTD. ; Watson (H.M. Inspector of Taxes) v. Samson Bros.

Loss of profit

Commentary – Tax Reporter ¶220-700 ; Tax Reporter ¶708-740
Case Law – (1) COMMISSIONERS OF INLAND REVENUE v. WILLIAMS'S EXECUTORS (2) WILLIAMS'S EXECUTORS v. COMMISSIONERS OF INLAND REVENUE ; CHARLES BROWN & COMPANY v. COMMISSIONERS OF INLAND REVENUE. ; Commissioners of Inland Revenue v. Falkirk Ice Rink Ltd. ; Green (H.M. Inspector of Taxes) v. Brace ; Keir & Cawder, Ltd. v. Commissioners of Inland Revenue ; London & Thames Haven Oil Wharves Ltd. v. Attwooll (H.M. Inspector of Taxes) ; MARGERISON (H.M. INSPECTOR OF TAXES) v. TYRESOLES, LTD. ; Roberts (H.M. Inspector of Taxes) v. W.S. Electronics Ltd. ; Rolfe (H.M. Inspector of Taxes) v. Nagel ; SUTHERLAND v. THE COMMISSIONERS OF INLAND REVENUE. ; THE GLENBOIG UNION FIRECLAY CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; Tucker (H.M. Inspector of Taxes) v. Granada Motorway Services Ltd. ; VAUGHAN (H.M. INSPECTOR OF TAXES) v. ARCHIE PARNELL AND ALFRED ZEITLIN, LTD.

Loss of trading stock

Commentary – Tax Reporter ¶220-600 ; Tax Reporter ¶708-720
Case Law – (1) GREEN (H.M. INSPECTOR OF TAXES) v. J. GLIKSTEN & SON, LIMITED. (2) THE COMMISSIONERS OF INLAND REVENUE v. J. GLIKSTEN & SON, LIMITED ; London Investment & Mortgage Co., Ltd. v. Worthington (H.M. Inspector of Taxes) Worthington (H.M. Inspector of Taxes) v. London Investment & Mortgage Co., Ltd. London Investment & Mortgage Co., Ltd. v. Commissioners of Inland Revenue Commissioners of Inland Revenue v. London Investment & Mortgage Co., Ltd. ; ROWNSON, DREW AND CLYDESDALE, LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; THE COMMISSIONERS OF INLAND REVENUE v. NEWCASTLE BREWERIES, LTD.

Reimbursement of trading expenses

Commentary – Tax Reporter ¶220-900 ; Tax Reporter ¶708-790
HMRC Guidance – BIM40130

Settlement of liquidated claims, apportionment

Commentary – Tax Reporter ¶220-850 ; Tax Reporter ¶708-780
Case Law – (1) HENRY (H.M. INSPECTOR OF TAXES) v. ARTHUR FOSTER. (2) HENRY (H.M. INSPECTOR OF TAXES) v. JOSEPH FOSTER. (3) HUNTER (H.M. INSPECTOR OF TAXES) v. DEWHURST. ; CARTER v. WADMAN (H.M. INSPECTOR OF TAXES) ; PRENDERGAST (H.M. INSPECTOR OF TAXES) v. CAMERON ; WALES (H.M. INSPECTOR OF TAXES) v. TILLEY

Compensation, increased rent

Case Law – Donald Fisher (Ealing) Ltd. v. Spencer (H.M. Inspector of Taxes). [1987] BTC 328 ; Donald Fisher (Ealing) Ltd. v. Spencer (H.M. Inspector of Taxes). [1989] BTC 112

Contracts, cancellation/variation

Commentary – Tax Reporter ¶220-200 ; Tax Reporter ¶708-650
Case Law – (1) SHORT BROS., LTD. v. THE COMMISSIONERS OF INLAND REVENUE. (2) THE SUNDERLAND SHIPBUILDING CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE. SHORT BROS., LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; A Consultant v HM Inspector of Taxes ; BARR, CROMBIE & CO., LTD. v. COMMISSIONERS OF INLAND REVENUE ; BUSH, BEACH & GENT, LTD. v. ROAD (H.M. INSPECTOR OF TAXES) ; Blackburn (H.M. Inspector of Taxes) v. Close Bros., Ltd. Commissioners of Inland Revenue v. Close Bros., Ltd. ; JESSE ROBINSON AND SONS v. THE COMMISSIONERS OF INLAND REVENUE. ; John Mills Productions Ltd. (in liquidation) v. Mathias (H.M. Inspector of Taxes) ; SHOVE (H.M. INSPECTOR OF TAXES) v. DURA MANUFACTURING CO., LTD. ; Sabine (H.M. Inspector of Taxes) v. Lookers, Ltd. ; Sommerfelds Ltd. v. Freeman (H.M. Inspector of Taxes) ; THE COMMISSIONERS OF INLAND REVENUE v. THE NORTHFLEET COAL AND BALLAST CO., LTD. ; VAN DEN BERGHS, LIMITED v. CLARK (H.M. INSPECTOR OF TAXES)

Customers' unreconciled overpayments

Case Law – Anise Ltd & Ors v Hammond (HMIT) (2003) Sp C 364 ; Pertemps Recruitment Partnership Ltd [2010] TC 00519 ; Pertemps Recruitment Partnership Ltd v Revenue and Customs Commissioners. [2011] BTC 1,675

Damage to goodwill

Commentary – Tax Reporter ¶220-250 ; Tax Reporter ¶708-660
Case Law – (1) CHIBBETT (H.M. INSPECTOR OF TAXES) v. JOSEPH ROBINSON AND SONS. (2) THE COMMISSIONERS OF INLAND REVENUE v. JOSEPH ROBINSON AND SONS. ; Anglo-French Exploration Co., Ltd. v. Clayson (H.M. Inspector of Taxes) ; BARR, CROMBIE & CO., LTD. v. COMMISSIONERS OF INLAND REVENUE ; Commissioners of Inland Revenue v. David C. MacDonald & Co. ; Commissioners of Inland Revenue v. Fleming & Co. (Machinery), Ltd. ; Elson (H.M. Inspector of Taxes) v. James G. Johnston, Ltd. ; KELSALL PARSONS & CO. v. COMMISSIONERS ON INLAND REVENUE ; Sabine (H.M. Inspector of Taxes) v. Lookers, Ltd. ; Wiseburgh v. Domville (H.M. Inspector of Taxes)

Debts

– see Debts

Derivative contracts

Commentary – Tax Reporter ¶707-030

Derived from trade

Commentary – Tax Reporter ¶220-000 ; Tax Reporter ¶708-620
Case Law – McGowan (H.M. Inspector of Taxes) v. Brown and Cousins (trading as Stuart Edwards) ; Murray (H.M. Inspector of Taxes) v. Goodhews

Exclusive trade tie agreements

Commentary – Tax Reporter ¶220-400 ; Tax Reporter ¶708-690
HMRC Guidance – BIM40300 ; BIM40305
Case Law – BRITISH DYESTUFFS CORPORATION (BLACKLEY), LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; Commissioners of Inland Revenue v. Coia ; Evans (H.M. Inspector of Taxes) v. Wheatley ; McClymont & Anor v Jarman (HMIT) ; McLaren (H.M. Inspector of Taxes) v. Needham ; THOMPSON (H.M. INSPECTOR OF TAXES) v. MAGNESIUM ELEKTRON, LTD. ; Walter W. Saunders, Ltd. v. Dixon (H.M. Inspector of Taxes)

Finance leases

– see Finance leases

Foreign exchange gains and losses

– see Foreign exchange gains and losses

Franchise agreements

Commentary – Tax Reporter ¶220-450 ; Tax Reporter ¶708-700
Case Law – BRITISH DYESTUFFS CORPORATION (BLACKLEY), LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; Higgs (H.M. Inspector of Taxes) v. Olivier ; MARGERISON (H.M. INSPECTOR OF TAXES) v. TYRESOLES, LTD.

Garages, payments from petrol companies

Commentary – Tax Reporter ¶220-400 ; Tax Reporter ¶708-690
HMRC Guidance – BIM40300 ; BIM40305
Case Law – BRITISH DYESTUFFS CORPORATION (BLACKLEY), LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; Commissioners of Inland Revenue v. Coia ; Evans (H.M. Inspector of Taxes) v. Wheatley ; McClymont & Anor v Jarman (HMIT) ; McLaren (H.M. Inspector of Taxes) v. Needham ; THOMPSON (H.M. INSPECTOR OF TAXES) v. MAGNESIUM ELEKTRON, LTD. ; Walter W. Saunders, Ltd. v. Dixon (H.M. Inspector of Taxes)

Generally

Commentary – Tax Reporter ¶220-000 ; Tax Reporter ¶708-620
Case Law – McGowan (H.M. Inspector of Taxes) v. Brown and Cousins (trading as Stuart Edwards) ; Murray (H.M. Inspector of Taxes) v. Goodhews

Gifts and voluntary receipts

Commentary – Tax Reporter ¶222-400
HMRC Guidance – BIM41800 ; BIM41805 ; BIM41810
Case Law – (1) CHIBBETT (H.M. INSPECTOR OF TAXES) v. JOSEPH ROBINSON AND SONS. (2) THE COMMISSIONERS OF INLAND REVENUE v. JOSEPH ROBINSON AND SONS. ; Commissioners of Inland Revenue v. Falkirk Ice Rink Ltd. ; ENSIGN SHIPPING CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; McGowan (H.M. Inspector of Taxes) v. Brown and Cousins (trading as Stuart Edwards) ; Murray (H.M. Inspector of Taxes) v. Goodhews ; Rolfe (H.M. Inspector of Taxes) v. Nagel ; Severne (H.M. Inspector of Taxes) v. Dadswell Commissioners of Inland Revenue v. Dadswell ; Simpson (H.M. Inspector of Taxes) v. John Reynolds & Co. (Insurances) Ltd. ; Walker (H.M. Inspector of Taxes) v. Carnaby Harrower, Barham & Pykett

Government grants and subsidies

Generally

Commentary – Tax Reporter ¶221-000 ; Tax Reporter ¶708-800
Case Law – Commissioners of Inland Revenue v. Falkirk Ice Rink Ltd. ; SMART (H.M. INSPECTOR OF TAXES) v. LINCOLNSHIRE SUGAR CO., LTD. ; THE SEAHAM HARBOUR DOCK COMPANY v. CROOK (H.M. INSPECTOR OF TAXES).

Industrial Development Act 1982, payments under

Commentary – Tax Reporter ¶221-050 ; Tax Reporter ¶708-810

Income tax charge

Commentary – Tax Reporter ¶228-700

Insurance proceeds

Generally

Commentary – Tax Reporter ¶221-200 ; Tax Reporter ¶708-840

Key person policies

Commentary – Tax Reporter ¶221-300 ; Tax Reporter ¶708-860
Case Law – Greycon Ltd v Klaentschi (HMIT)

Locum and fixed practice expenses

Commentary – Tax Reporter ¶221-250
HMRC Guidance – BIM45565

Intangible fixed assets

Commentary – Tax Reporter ¶707-030

Investment income

Commentary – Tax Reporter ¶222-350 ; Tax Reporter ¶709-100
Case Law – Bank Line Ltd. v. Commissioners of Inland Revenue ; Northend (H.M. Inspector of Taxes) v. White & Leonard & Corbin Greener and Others ; Owen (H.M. Inspector of Taxes) v. Sassoon ; THE LIVERPOOL AND LONDON AND GLOBE INSURANCE COMPANY v. BENNETT (Surveyor of Taxes). BRICE (Surveyor of Taxes) v. THE OCEAN ACCIDENT AND GUARANTEE CORPORATION, LIMITED. BRICE (Surveyor of Taxes) v. THE NORTHERN ASSURANCE COMPANY.

Know-how

– see Know-how

Loan relationships

Commentary – Tax Reporter ¶707-030

Mutual concerns

Commentary – Tax Reporter ¶222-250 ; Tax Reporter ¶709-080
Case Law – Brogan (H.M. Inspector of Taxes) v. Stafford Coal & Iron Co., Ltd. Commissioners of Inland Revenue v. Stafford Coal & Iron Co., Ltd.

Post-cessation receipts

– see Post-cessation receipts

Receipts, meaning

Commentary – Tax Reporter ¶707-030

Rents from surplus business accommodation

Commentary – Tax Reporter ¶222-300 ; Tax Reporter ¶709-090
HMRC Guidance – BIM41015

Repayment of overpaid output VAT

Commentary – Tax Reporter ¶709-130

Repayment of VAT and interest

Case Law – Shop Direct Group & Ors v Revenue and Customs Commissioners. [2013] BTC 1,824

Restrictive covenants

Commentary – Tax Reporter ¶220-350 ; Tax Reporter ¶708-680
Case Law – Higgs (H.M. Inspector of Taxes) v. Olivier ; MARGERISON (H.M. INSPECTOR OF TAXES) v. TYRESOLES, LTD. ; Murray (H.M. Inspector of Taxes) v. Imperial Chemical Industries Ltd. ; THOMPSON (H.M. INSPECTOR OF TAXES) v. MAGNESIUM ELEKTRON, LTD.

Reverse premiums

Commentary – Tax Reporter ¶222-200 ; Tax Reporter ¶709-070
HMRC Guidance – BIM41050 ; BIM41075 ; BIM41085 ; BIM41105

Sterilisation of assets, amounts received

Commentary – Tax Reporter ¶220-300 ; Tax Reporter ¶708-670
Case Law – BURMAH STEAM SHIP COMPANY, LIMITED v. THE COMMISSIONERS OF INLAND REVENUE. ; Beveridge v Ellam (HMIT) ; Crabb (H.M. Inspector of Taxes) v. Blue Star Line, Ltd. ; ENSIGN SHIPPING CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; THE GLENBOIG UNION FIRECLAY CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE.

Stock lending

– see Stock lending

Temporary employment subsidy

Case Law – Poulter (H.M. Inspector of Taxes) v. Gayjon Processes Ltd. [1985] BTC 112

Unclaimed monies

Commentary – Tax Reporter ¶220-050 ; Tax Reporter ¶709-040
HMRC Guidance – BIM31110
Case Law – Anise Ltd & Ors v Hammond (HMIT) ; Elson (H.M. Inspector of Taxes) v. Prices Tailors, Ltd. ; Forbes v. Director of the Assets Recovery Agency ; Gower Chemicals Ltd v. R & C Commrs ; JAY's–THE JEWELLERS, LTD. v. COMMISSIONERS OF INLAND REVENUE COMMISSIONERS OF INLAND REVENUE v. JAY's–THE JEWELLERS, LTD. ; MORLEY (H.M. INSPECTOR OF TAXES) v. MESSRS. TATTERSALL

When earned

Case Law – Eckel v. Board of Inland Revenue (Trinidad and Tobago). [1989] BTC 94