5 Mar 2003
THE TRUSTEES OF THE CB SIMKIN TRUST AND THE TRUSTEES IN THE NC SIMKIN TRUST V COMMISSIONER OF INLAND REVENUE CA CA57/02
- Citation
- openlaw-60b03e4b_c130_43ab_81e6_3e96d4fe959d.pdf
- Court
- Unknown Court
Item 7 of Schedule 17 ('the right to use a trademark') denotes a separable right of use typically held by a licensee, not the ownership interest in a trademark; trademark ownership is potentially indefinite and therefore does not qualify as 'depreciable intangible property' with a finite useful life, so the trustees could not claim depreciation on the ownership rights they retained while granting exclusive licences.