Commentary

B2.303B Notional items of expenditure

Business tax
Business tax | Commentary

B2.303B Notional items of expenditure

Business tax | Commentary

B2.303B Notional items of expenditure

No deduction is available in respect of a purely notional item of expenditure as in such cases, an expense has not actually been incurred. In Niddrie and Benhar Coal Co1, the company sold its coal wagons to a railway company, the wagons to be reserved for the exclusive use of the coal company in carrying coal by rail. A claim for demurrage was made by the railway company yearly, but it was never accepted or paid by the coal company. Many years later the old agreement was cancelled, together with the accumulated demurrage claim, and a new

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