Hearings
England & Wales
29 Jan 1993 [1993] STC 199; (1993) 66 TC 77; (1993) 66 TC 77, Ch D (Harman J)
30 Jun 1993 [1994] Ch 107; [1994] 2 WLR 160; [1993] STC 537; (1993) 66 TC 77; (1993) 66 TC 77, CA
Gallagher v Jones
Additional names
Threlfall v Jones
Subject Matter
REVENUE — Income tax — Schedule D, Case I — Taxpayer leasing boats for use in business — Leasing agreement requiring substantial initial payment followed by monthly rental payments — Whether whole expenditure deductible for period in which incurred notwithstanding securing of future benefit — Whether ordinary principles of commercial accounting applicable
[1994] Ch 107; [1994] 2 WLR 160; [1993] STC 537; (1993) 66 TC 77; (1993) 66 TC 77, CA