Reckitt and Colman Products Ltd v Borden Inc & Ors [1990] UKHL 12 (08 February 1990)
Citation:Reckitt and Colman Products Ltd v Borden Inc & Ors [1990] UKHL 12 (08 February 1990)
Rule of thumb:What is meant by ‘plant’ in tax law? This has a very wide definition and means virtually all assets which a person or organisation has on their balance sheet.
Court held:There is a very broad discretion in what is to be considered ‘plant’. This confirms that tax law is so vast that there is the possibility for inconsistencies in this area of the law.
Ratio-decidendi:
‘[Tax inspectors] may be pardoned for finding anything, or almost anything, to be or not to be plant and may be justified in making any number, or almost any number, of inconsistent concessions and illogical distinctions’, Lord Justice Stephenson
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.