Lurcott v Wakely & Wheeler [1911] 1 KB 905
Citation:Lurcott v Wakely & Wheeler [1911] 1 KB 905
Rule of thumb:What expenses of assets are tax deductible? Both renewal & maintenance/repair of assets are deductible as long as they are done within reason.
Ratio-decidendi:
, ‘Repair is restoration by renewal or replacement of subsidiary parts of a whole. Renewal, as distinguished from repair, is reconstruction of the entirety, meaning by the entirety not necessarily the whole but substantially the whole subject-matter under discussion’, at 924 Buckley L.J
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.