Yarmouth v France (1887) 19 QBD 647

Citation:Yarmouth v France (1887) 19 QBD 647

Link to case on WorldLII (reference).

Rule of thumb:What is meant by assets & plants in tax law? What expansions, improvements & maintenance of existing assets can an organisation do and call these an ‘expense’ to reduce tax liability? Virtually anything within reason - the scope is massive and it is developing all the time – this is a very detailed field.

Judgment:

‘… it includes whatever apparatus is used by a businessman for carrying on his business – not his stock-in-trade which he buys or makes for sale; but all goods and chattels, fixed or moveable, live or dead, which he keeps for permanent employment in his business,’ Lord Justice Lindley

Ratio-decidendi:

Warning: This is not professional legal advice. This is not professional legal education advice. Please obtain professional guidance before embarking on any legal course of action. This is just an interpretation of a Judgment by persons of legal insight & varying levels of legal specialism, experience & expertise. Please read the Judgment yourself and form your own interpretation of it with professional assistance.