Field Court Tax Chambers

May’s edition of Tax Journal contained an insightful article by Field Court Tax Chambers’ Peter Vaines on the test for obtaining an income tax deduction for an item of expenditure. Infamously difficult to satisfy, this test has confounded taxpayers and tax advisors alike for decades, and generated a very interesting record of cases where there seems to be little consistency to be found. This article examines the history of this test and what makes it so controversial, and analyses a recent case which continues the legacy of perplexing judgements on this fundamental issue. A must-read for every practitioner and anyone with even a passing interest in tax law, the article can be found in Tax Journal here or on the FCTC website here.

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