Commentary

B5.642 Hire-purchase trading—collection of debts as a trade

Business tax
Business tax | Commentary

B5.642 Hire-purchase trading—collection of debts as a trade

Business tax | Commentary

B5.642 Hire-purchase trading—collection of debts as a trade

Where a hire-purchase trader sold his business to a company, and the company agreed to collect on his behalf and at his expense sums due or subsequently becoming due on hire-purchase agreements in existence immediately before the sale, it was held that he had set up a new trade of carrying through uncompleted and outstanding hire-purchase agreements1.

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