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Austin Payment Not Taxable
Page 66
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D EASONS were given by Mr. Justice
Vaisey. in the Chancery Division last week, for holding that a payment by the Austin Motor Co., Ltd., to Lookers, Ltd., main Austin distributors in the Manchester area, was not to be included in the assessment of profits for 1955-56. Mr. Justice Vaisey had dismissed an appeal by the Crown against a decision of the Special Commissioners for Income Tax.
He said that the sum in dispute0,519—was the first half of £7,038 paid by Austin as compensation after Lookers' annual agreement had been varied. Lookers' annual agreements with Austin were the foundation of their trade. The alterations were expected to weaken it, and the sum in question was paid to reinforce, stabilize or strengthen it. It was no part of the company's assessable profits, but was to be treated as a capital receipt. ;
BALLAST TRADE WAGE CHANGES PAA NEW schedule of minimum wage differentials has been put into operation by the National Joint Council for the Ballast and Sand Industry. On top of their hourly rate, drivers of service vans should receive an extra 3d.; drivers of dumpers and mechanical shovels, 3c1.; drivers of tractors fitted with bulldozer or scraper equipment, 3d.-6d., depending on their experience; and drivers of Euclid 15-ton rear dump vehicles, 3d.-6d., again depending on experience.