Clause 21. — (Disposal of Assets and Computation of Gains.)

Part of Orders of the Day — FINANCE (No. 2) BILL – in the House of Commons at 12:00 am on 25 May 1965.

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Photo of Mr Niall MacDermot Mr Niall MacDermot , Derby North 12:00, 25 May 1965

Those appear not to he costs to enhance the value of the animal. They are ordinary costs. If one has a race horse, one has it not pri- marily for capital gain but for the enjoyment one gets from racing. This is the use of the chattel, and the costs incurred in the ordinary way of use and enjoyment of the chattel or in the maintenance or preserving of it will not be allowable.