Company's Vehicle Expense Disallowance Overturned; Personal Use Argument Rejected, Expenses Deemed Corporate Use.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of 1/5th of vehicle expenses - when the vehicles were used by the directors 'even if they were personally used by the directors', the vehicles were personally used by the company, because a limited company by its very nature cannot have any 'personal use'. The limited company is an inanimate person and there cannot be anything personal about such an entity. - Additions deleted - AT....