- Save
- Cite
-
Email this content
Share Link
Copy this link, or click below to email it to a friendEmail this contentor copy the link directly:The link was not copied. Your current browser may not support copying via this button.Link copied successfully
- Save
- Cite
-
Email this content
Share Link
Copy this link, or click below to email it to a friendEmail this contentor copy the link directly:The link was not copied. Your current browser may not support copying via this button.Link copied successfully
Show Less
Restricted access
Business Income Manual
Publication Date: 2025
Publisher: Bloomsbury Professional
Copyright: 2025 Crown
Business Income Manual
Supplementary guidance on how to check tax calculations or work out the trading profits of a business for Self Assessment tax return.
Last update: 31st January 2025
Contents
- Close sectionBIM00500: Introduction: contents
- Close sectionBIM14000: Taxation of trading income: contents
- BIM14005: Overview
- BIM14010: Trades, professions and vocations
- BIM14015: Interpretation - ‘trade’ or ‘business’
- BIM14020: Priority rules
- BIM15010: Scope
- BIM15015: Who is chargeable?
- BIM15020: General principles
- BIM15025: Capital or revenue?
- BIM15030: Relationship to Capital Gains Tax
- BIM15035: Receipts not chargeable - source doctrine
- BIM15040: What is chargeable?
- BIM15045: Statute - overview
- BIM15050: Statute - main charging provisions
- BIM15055: Statute - supplementary charging provisions
- BIM15060: Statute - supplementary charging provisions - farming
- BIM15065: Statute - supplementary charging provisions - occupation of land
- BIM15070: Statute - supplementary charging provisions - mines, quarries and other concerns
- Close sectionBIM20000: Meaning of trade: contents
- Close sectionBIM20050: Meaning of trade: General
- BIM20051: Overview
- BIM20055: Introduction
- BIM20060: Definition
- BIM20065: Venture in the nature of trade
- BIM20070: Question of fact for Tribunal
- BIM20075: Roles of Tribunal and the courts
- BIM20080: Investigative approach
- BIM20085: Use of case law
- BIM20090: Hobbies and artificial trades
- BIM20095: Judicial guidance
- BIM20100: Principles from case law
- BIM20102: Recent views
- BIM20103: Importance of risk
- BIM20105: Fiscal purpose
- BIM20110: Fiscal purpose: not sole purpose
- Close sectionBIM20200: Meaning of trade: Badges of Trade
- BIM20201: The origin of the concept
- BIM20205: Summary
- BIM20210: Profit-seeking motive
- BIM20215: Profit-seeking motive - not main purpose
- BIM20220: Profit-seeking motive - fiscal purpose
- BIM20230: Isolated transactions
- BIM20235: Repeated operations
- BIM20240: Repeated operations - later transactions reflecting on first
- BIM20245: Nature of the asset
- BIM20250: Income-producing assets
- BIM20255: Assets acquired for personal enjoyment
- BIM20260: Assets with no income yield or ‘pride of possession’
- BIM20265: Quantity purchased
- BIM20270: Connections with existing trade
- BIM20275: Modification of the asset
- BIM20280: Organisation of the activity
- BIM20285: Sales organisation
- BIM20290: Company formed for the purpose of the transaction
- BIM20295: Reasons for sale
- BIM20300: Method of finance
- BIM20305: Funding from an existing trade
- BIM20310: Interval of time between purchase and sale
- BIM20315: Supervening trade
- BIM20401: Intention - stated intention
- BIM20405: Intention - unequivocal and equivocal transactions
- BIM20410: Intention - dual motive transactions
- BIM20415: Intention - dual motive transactions - links to non-trading undertakings or charities
- BIM20420: Memorandum of association
- Close sectionBIM21000: Meaning of trade: Scope of trade
- BIM21001: Introduction
- BIM21005: Approach
- BIM21008: Activities included
- BIM21010: Relevant case law
- BIM21015: Collins v The Firth-Brearley Stainless Steel Syndicate Ltd 9TC520
- BIM21020: The Rees Roturbo Development Syndicate Ltd v Ducker 13TC367
- BIM21025: The Gloucester Railway Carriage and Wagon Co Ltd v CIR 12TC720
- BIM21030: J Bolson & Son Ltd v Farrelly 34TC161
- BIM21035: The Alianza Company Ltd v Bell 5TC60 and 172
- BIM21040: Golden Horse Shoe (New) Ltd v Thurgood 18TC280
- BIM22000: Meaning of trade: Exceptions & alternatives
- BIM24000: Meaning of trade: Mutual trading & members clubs
- Close sectionGolf clubs
- Close sectionRugby clubs
- Close sectionIncorporation
- Close sectionAllowable expenditure
- BIM24450: Allowable expenditure
- BIM24455: Allowable expenditure: trades that are partly non-mutual
- BIM24460: Allowable expenditure: apportionment of mixed expenditure
- BIM24465: Allowable expenditure: judicial guidance on apportionment
- BIM24470: Allowable expenditure: members golf clubs: is intention relevant?
- BIM24475: Allowable expenditure: the ‘Peterhead’ principle
- Close sectionAllocation of income: introduction and layout of guidance
- BIM24480: Allocation of income: introduction and layout of guidance
- BIM24485: Allocation of income: nature of activities
- BIM24490: Allocation of income: income from contributors
- BIM24495: Allocation of income: income from non-contributors
- BIM24500: Allocation of income: mixed income
- BIM24505: Allocation of income: sundry income
- Close sectionDistributions: introduction and layout of guidance
- BIM24550: Distributions: introduction and layout of guidance
- BIM24555: Distributions: the basic approach
- BIM24560: Distributions: dividends from a co-operative etc society
- BIM24565: Distributions: CTA 2010, s 1070
- BIM24600: Distributions: on winding-up
- BIM24605: Distributions on winding-up: taxable on first principles or statute
- BIM24615: Distributions on winding-up: statute: what is taxed?
- Close sectionMutual associations: specific activities: introduction
- BIM24650: Mutual associations: specific activities: introduction
- BIM24655: Mutual associations: specific activities: NHS doctors' co-operatives
- BIM24660: Mutual associations: specific activities: NHS doctors' co-operatives: essential pre-requisite
- BIM24665: Mutual associations: specific activities: NHS doctors' co-operatives: essential pre-requisite: does the trade meet the criteria?
- BIM24670: Mutual associations: specific activities: NHS doctors' co-operatives: varieties
- BIM24675: Mutual associations: specific activities: NHS doctors' co-operatives: National Association of GP co-operatives
- BIM24680: Mutual associations: specific activities: mutual health insurers: introduction and layout of guidance
- BIM24685: Mutual associations: specific activities: mutual health insurers: background
- BIM24690: Mutual associations: specific activities: mutual health insurers: two interrelated questions
- BIM24695: Mutual associations: specific activities: mutual health insurers: are they trading?
- BIM24700: Mutual associations: specific activities: mutual health insurers: is the trade mutual?
- BIM24705: Mutual associations: specific activities: agricultural co-operatives: introduction and layout of guidance
- BIM24710: Mutual associations: specific activities: agricultural co-operatives: background
- BIM24715: Mutual associations: specific activities: agricultural co-operatives: model constitution
- BIM24720: Mutual associations: specific activities: agricultural co-operatives: three points to watch
- BIM24725: Mutual associations: specific activities: agricultural co-operatives: financing
- BIM24730: Mutual associations: specific activities: agricultural co-operatives: taxation of
- BIM24735: Mutual associations: specific activities: agricultural co-operatives: not conducting a mutual trade
- BIM24740: Mutual associations: specific activities: agricultural co-operatives: members taxation
- BIM24745: Mutual associations: specific activities: agricultural co-operatives: futures dealing
- BIM24750: Mutual associations: specific activities: Chambers of Commerce: introduction
- BIM24755: Mutual associations: specific activities: Chambers of Commerce: trading?
- BIM24760: Mutual associations: specific activities: Chambers of Commerce: a mutual trade?
- BIM24765: Mutual associations: specific activities: Hunt point to point meetings: introduction and layout of guidance
- BIM24775: Mutual associations: specific activities: Hunt point-to-point meetings: trading?
- BIM24780: Mutual associations: specific activities: Hunt point-to-point meetings: dealings with members
- BIM24782: Mutual associations: specific activities: property management companies
- BIM24784: Mutual associations: specific activities: bulk buying groups: introduction
- BIM24786: Mutual associations: specific activities: bulk buying groups: basic principles
- BIM24788: Mutual associations: specific activities: bulk buying groups: two relationships
- BIM24792: Mutual associations: specific activities: voluntary organisations & charities: fund-raising events: introduction and layout of guidance
- BIM24794: Mutual associations: specific activities: voluntary organisations & charities: tax exemption
- BIM24795: Mutual associations: specific activities: voluntary organisations & charities: conditions for exemption
- BIM24796: Mutual associations: specific activities: voluntary organisations & charities: donations etc. not chargeable
- BIM24797: Mutual associations: specific activities: voluntary organisations & charities: reference to Specialist PT Charities
- BIM24800: Mutual associations: specific activities: trade protection associations: introduction
- BIM24805: Mutual associations: specific activities: trade protection associations: HMRC arrangement
- BIM24810: Mutual associations: specific activities: trade protection associations: procedural points when adopting HMRC arrangement
- BIM24815: Mutual associations: specific activities: trade protection associations: benefits to members of adopting HMRC arrangement
- BIM24820: Mutual associations: specific activities: trade protection associations: text of HMRC arrangement
- BIM24850: Mutual associations: specific activities: marketing boards
- Close sectionDeductibility of payment made by contributor to a mutual trader
- Close sectionTax cases referred to in guidance
- Close sectionBIM20050: Meaning of trade: General
- Close sectionBIM30000: Measuring the profits (general rules) - accountancy & tax, stock, VAT, capital or revenue, wholly & exclusively: contents
- Close sectionBIM30500: Statutory rules
- Close sectionBIM31000: The relationship between tax on trade profits and accountancy
- BIM31005: Tax and accountancy: introduction
- BIM31010: Tax and accountancy: need to conform to tax law
- BIM31015: Tax and accountancy: meaning of ‘generally accepted accountancy practice’
- BIM31020: Tax and accountancy: meaning of ‘UK generally accepted accountancy practice’
- BIM31025: Tax and accountancy: meaning of ‘international accounting standards’
- BIM31027: Tax and accountancy: interaction of UK GAAP and IAS
- Close sectionTax and accountancy: GAAP
- BIM31029: Tax and accountancy: GAAP
- BIM31030: Tax and accountancy: concepts and pervasive principles
- BIM31035: Tax and accountancy: relevance of audit
- BIM31040: Tax and accountancy: events after the end of the reporting period
- BIM31045: Tax and accountancy: materiality: an accountancy concept
- BIM31047: Tax and accountancy: materiality: relevance for tax
- BIM31050: Tax and accountancy: Substance over form
- BIM31055: Tax and accountancy: Substance over form: taxation implications
- BIM31060: Tax and accountancy: Property, plant and equipment
- BIM31065: Tax and accountancy: FRS15: renewals accounting
- Close sectionTax and accountancy: timing of income and expenditure
- BIM31080: Tax and accountancy: timing of income and expenditure
- BIM31090: Tax and accountancy: timing of receipts and expenditure: general principles derived from case law
- BIM31095: Tax and accountancy: timing of receipts and expenditure: accountancy practice and case law developments
- BIM31100: Tax and accountancy: timing of receipts and expenditure: anticipation of loss
- BIM31105: Tax and accountancy: when to recognise profits: source is important
- BIM31110: Tax and accountancy: recognition of deposits and compensation
- BIM31115: Tax and accountancy: timing of income and expenditure: GAAP
- Close sectionBIM31500: Interaction with Value Added Tax
- BIM31501: Introduction to VAT
- BIM31505: Rates
- BIM31510: Taxable/exempt supplies
- BIM31515: Turnover below registration threshold
- BIM31520: Input tax
- BIM31525: General accounts treatment
- BIM31530: Inclusive basis
- BIM31535: Trader exempt/not taxable
- BIM31540: Partial exemption
- BIM31545: Motor cars
- BIM31550: Private motoring
- BIM31555: Business entertainment
- BIM31560: Goods for own use
- BIM31570: Interval between payment & recovery
- BIM31575: Irrecoverable sums
- BIM31580: Special schemes for retailers
- BIM31585: Flat rate schemes
- BIM31590: Groups & associated companies
- BIM31595: Value of stock in trade
- BIM31600: Starting or ceasing liability
- BIM31605: Transfer as a going concern
- BIM31610: Penalties & repayment supplement
- BIM31615: Settlements after investigation
- BIM31620: Timing of deduction
- BIM31625: Reference to BAI Business Profits
- Close sectionBIM33000: Stock
- BIM33005: Meaning of stock
- BIM33100: Valuation
- BIM33300: Trading transactions
- BIM33450: Valuation on discontinuation of business
- BIM33600: Non-trading transactions
- BIM33700: Business successions
- BIM34000: Change of basis of computing taxable profits
- Close sectionBIM35000: Capital/revenue divide
- Close sectionBIM37000: Wholly and exclusively: contents
- BIM37005: Topics covered
- BIM37007: Overview
- BIM37010: Statutory background: what the guidance covers: contents
- BIM37050: How to establish purpose: contents
- BIM37100: Case law: contents
- BIM37600: Duality of, or non-trade, purpose: travel costs: contents
- BIM37650: Duality of, or non-trade, purpose: non travel topics: contents
- BIM37700: Duality of, or non-trade, purpose: remuneration, etc: contents
- BIM37750: Duality of, or non-trade, purpose: loans/advances to others: whose trade purpose?: contents
- BIM37800: Expense of earning or application of profits?: contents
- BIM37900: Expenditure having an intrinsic duality of purpose: contents
- BIM38100: Partnerships
- BIM38200: Companies
- BIM38300: Commencement, cessation or sale of business: contents
- BIM38400: Artificial prices
- BIM38500: Fines, penalties and damages: contents
- BIM38600: Tax cases referred to in the guidance
- Close sectionBIM39500: Foreign exchange
- BIM39501: Introduction
- BIM39505: Rates of exchange
- BIM39510: Exchange rate for accounts purposes
- BIM39515: Exchange rate for tax purposes
- BIM39520: Monetary assets and liabilities: general principles
- BIM39525: Gains or losses: on monetary liabilities
- BIM39530: Gains or losses: capital or revenue: terms of borrowing
- BIM39535: Gains or losses: capital or revenue: use of money
- BIM39540: Gains or losses: capital or revenue: summary
- BIM39545: Monetary assets
- BIM39550: Monetary assets: practical approach
- BIM39555: Matched assets and liabilities
- BIM39560: ‘Marine Midland matching’
- BIM39565: Business uses the ‘offset method’
- BIM39570: Currency contracts
- BIM39575: Capital gains interactions
- BIM39580: Foreign currency accounts
- Close sectionBIM40000: Measuring the profits (specific rules & practices) - receipts & deductions: contents
- Close sectionBIM40050: Receipts - general
- BIM40051: Whether trading income
- BIM40055: Excluded revenue: liability
- BIM40060: Particular types of transaction
- BIM40065: If excluded may still be liable
- BIM40070: Recognition of incomings
- BIM40075: When are they earned?
- BIM40085: Possible future repayment
- BIM40090: Anticipation of profits
- BIM40095: Foreign exchange gains and losses
- Close sectionBIM40099: Specific receipts
- BIM40100: Compensation and damages
- BIM40150: Refunds of sums paid as VAT
- BIM40200: Unclaimed balances
- BIM40300: Exclusivity agreements
- BIM40350: Fees
- BIM40400: Government support for new businesses
- BIM40450: Grants and subsidies: contents
- BIM40500: Domestic microgeneration
- BIM40550: Hire purchase
- BIM40650: Insurance and other commission
- BIM40750: Insurance recoveries
- BIM40800: Interest and dividends
- BIM41000: Rents and payments from tenants
- BIM41050: Reverse premiums
- BIM41800: Voluntary receipts
- Close sectionBIM42050: Deductions - general:
- Close sectionBIM42100: Deductions - scope of
- Close sectionBIM42200: Deductions - timing
- Close sectionBIM42450: Specific deductions: contents
- BIM42500: Administration
- BIM42550: Advertising
- BIM42700: Bad and doubtful debts
- BIM42950: Compensation and damages
- BIM43100: Crime (expenditure involving)
- BIM43250: Dilapidations under a lease
- BIM44000: Employee share schemes
- BIM44500: Employee benefit trusts
- BIM45000: Entertainment
- BIM45100: Flood and erosion projects : Introduction and contents
- BIM45150: Gifts in kind and payroll giving: contents
- BIM45300: Guarantee payments
- BIM45350: Hire purchase
- BIM45500: Insurance
- BIM45650: Interest
- BIM45800: Incidental costs of loan finance
- BIM45840: Land remediation relief
- BIM45850: Losses
- BIM45900: Overseas taxes
- BIM45950: Patents & royalties
- BIM46000: Pension schemes
- BIM46250: Premiums
- BIM46350: Pre-trading expenditure
- BIM46400: Professional fees
- BIM46500: Provisions
- BIM46800: Rent & rates
- BIM46900: Repairs and renewals
- BIM47000: Staffing costs
- BIM47300: Security expenditure
- BIM47400: Subscriptions
- BIM47600: Trade organisations
- BIM47700: Travel & subsistence
- BIM47800: Use of home
- BIM48000: Crisis-driven changes to trading activities
- Close sectionBIM40050: Receipts - general
- Close sectionBIM50000: Measuring the profits (particular trades): contents
- Close sectionBIM50150: Actors and other entertainers
- BIM50301: Agricultural societies
- Close sectionBIM50600: Athletes
- Close sectionBIM50650: Athletes - lottery sports fund athlete personal awards
- BIM50651: Athletes: Lottery funding: Athlete Personal Awards: Introduction
- BIM50655: Athletes: Lottery funding: Athlete Personal Awards: Types of award
- BIM50660: Athletes: Lottery Sports Fund Athlete Personal Awards: Loss of earnings support
- BIM50665: Athletes: Lottery funding: Athlete Personal Awards: Trading income
- BIM50675: Athletes: Lottery funding: Athlete Personal Awards: Other categories of charge
- Close sectionBIM50700: Authors & literary profits
- Close sectionBIM51100: Barristers
- BIM51251: Bookmakers
- Close sectionBIM51400: Breweries
- Close sectionBIM51450: Broadcasting
- Close sectionBIM51500: Builders, property dealers & developers
- BIM51505: Background
- BIM51510: Income recognition
- BIM51515: Valuation of mortgage
- BIM51520: Retentions
- BIM51525: Premiums
- BIM51530: Ground rents
- BIM51535: Trading stock
- BIM51540: Reversionary interest
- BIM51545: Improved
- BIM51550: Reports to BAI Business Profits
- BIM51555: Property income
- BIM51560: Valuation
- BIM51565: Valuation reports
- BIM51570: Substantial adjustment
- BIM51575: Not negotiated valuation
- BIM51580: Accepted
- BIM51585: Not accepted
- BIM51590: No current tax effect
- BIM51595: Tax effect
- BIM51600: Negotiated valuation
- BIM51605: Multiple valuations
- BIM51610: Land outside the UK
- BIM51615: Contentious appeal
- BIM51620: Property not acquired as trading stock
- BIM51625: Own occupation
- BIM51630: Town and Country Planning Acts
- BIM51635: Legal and professional fees
- BIM51640: Private street works
- BIM51645: England/Wales
- BIM51650: Payments to local authorities
- BIM51655: Payments to local authorities: Interest
- BIM51665: Purchase and sale of woodlands
- BIM52001: Motor dealers
- BIM52500: Cemeteries and crematoria
- BIM52550: Check traders
- BIM52750: Care providers
- BIM53251: Commodity transactions
- BIM53951: Diving industry
- BIM54000: Doctors and dentists
- BIM55000: Farming
- BIM56000: Film and audio products
- BIM56800: Financial traders - instruments and shares
- BIM57001: Fishing: grants to decommission fishing vessels
- BIM57600: Franchising
- BIM58200: Grant aided bodies
- BIM58401: Greyhound stadium proprietors
- BIM58600: Historic houses
- BIM58801: Horserace Betting Levy Board
- BIM59501: Internet trading and e-commerce
- BIM60000: Land: trading transactions
- BIM60201: Land: profits arising out of land
- Close sectionBIM60300: Land transactions (before 8 March 2016)
- BIM60305: Overview
- BIM60307: Straightforward transactions of purchase and sale
- BIM60310: Conditions
- BIM60315: Conditions: territorial scope
- BIM60320: Conditions: motive test
- BIM60325: Person obtaining the gain
- BIM60328: Provider of value or opportunity
- BIM60330: Right to recover the tax from another person
- BIM60333: Computation
- BIM60335: Period in which the gain is taxed
- BIM60337: Transactions, arrangements, sales and realisations
- BIM60340: Common situations
- BIM60345: Common situations: Diversion schemes
- BIM60350: Common situations: ‘Slice of the action’ contracts
- BIM60355: Common situations: ‘Slice of the action’ contracts: Identification
- BIM60360: Common situations: ‘Slice of the action’ contracts: Portion of charge may be exempt
- BIM60365: Land developed for gain: Portion of charge may be exempt: Example
- BIM60370: Exemptions: Profit chargeable as trading income
- BIM60375: Exemptions: Principal private residence
- BIM60395: Clearance applications: Overview
- BIM60400: Clearance applications: conditions for application
- BIM60405: Clearance applications: Reference to BAI Business Profits
- BIM60410: Clearance applications: Time limit
- BIM60415: Clearance applications: Obtaining further information
- BIM60420: Clearance applications: Acceptance
- BIM60425: Clearance applications: Refusal
- BIM60430: Clearance applications: Form of words to accept or refuse clearance
- BIM60435: Clearance applications: Multiple applications in relation to the same transaction
- BIM60450: Definitions: Land
- BIM60455: Definitions: Property deriving its value from land
- BIM60460: Definitions: Developed
- BIM60465: Definitions: Disposal
- BIM60470: Definitions: Gain of a capital nature
- BIM60475: Definitions: Connected person
- BIM60480: Definitions: Another person
- BIM60500: Tax cases
- Close sectionBIM60510: Land Transactions (from 8 March 2016)
- BIM60515: Overview
- BIM60520: Profits from a trade of dealing in or developing UK land: Overview
- BIM60525: Expansion of territorial scope of Corporation Tax and Income tax: Overview
- BIM60526: 16th March 2016 amendment of UK/Crown Dependencies double taxation agreements
- BIM60530: Trade of dealing in or developing UK land
- BIM60535: Exclusion of charge to income tax
- BIM60540: Permanent Establishment exemption
- BIM60545: Overview of legislation
- BIM60550: Amounts treated as trading profits
- BIM60555: Conditions
- BIM60560: Main purpose or one of the main purposes
- BIM60565: Person realising a profit or gain
- BIM60570: Disposals of land: profits treated as trading profits
- BIM60575: Disposals of property deriving its value from land
- BIM60580: Disposals of property deriving its value from land
- BIM60585: Profits treated as trading profits
- BIM60590: Relevant amount and relevant assets
- BIM60595: Profit already brought into account
- BIM60600: Fragmented activities overview
- BIM60605: Fragmented activities rules
- BIM60610: Relevant Contribution
- BIM60611: Anti-fragmentation: Interest
- BIM60615: Anti-fragmentation: Example
- BIM60620: Calculation of profit or gain
- BIM60625: Period in which the gain is taxed
- BIM60630: Profit attributable to period before intention to develop formed
- BIM60635: Tracing value
- BIM60640: Relevance of transactions and arrangements
- BIM60645: ‘Slice of the action’ contracts and overage arrangements
- BIM60650: Portion of gain relating to period before relevant activities commenced may be exempt
- BIM60655: Portion of charge may be exempt: Example
- BIM60660: Pre-trading expenses - Overview
- BIM60665: Commencement and transitional provisions: Overview
- BIM60700: Anti-Avoidance provisions
- bim60800: Index
- bim60900: Notification, assessment & payment
- BIM60905: Corporation tax: Quarterly Instalment Payments (QIP's)
- BIM61001: Leasing: general
- Close sectionBIM61200: Leasing: avoidance: assets other than land
- BIM61201: Overview
- BIM61205: Capital sums
- BIM61210: Tax-relieved payments
- BIM61215: Definitions
- BIM61220: Associated persons
- BIM61225: Joint interests
- BIM61230: Additional capital sum: same interests
- BIM61235: Capital sums examples
- BIM61240: Leased trading assets
- BIM61245: Meaning of ‘commercial rent’
- BIM61250: Calculation of tax deduction
- Close sectionBIM61300: Leasing: avoidance: sale and leaseback of land
- BIM61301: Restriction of payments under lease
- BIM61305: Definition of commercial rent
- BIM61310: Extended meaning of transfer
- BIM61315: Calculation of tax deduction
- BIM61330: Liability of recipient not affected
- BIM61335: New lease after assignment or surrender
- BIM61340: Special arrangements
- BIM61345: Charge to tax
- Close sectionBIM61400: Licensed trade
- BIM61551: Lloyd's underwriters
- Close sectionBIM61600: Lotteries promoted by sport supporters' societies
- BIM61851: Marine pilots
- Close sectionBIM62000: Mineral extraction
- BIM62001: Profits of mining and quarrying deemed trade profits
- BIM62005: Exploration expenditure
- BIM62010: Sinking mine shafts
- BIM62015: Commencement of trade
- BIM62020: Miscellaneous receipts
- BIM62025: Restoration expenditure
- BIM62030: Restoration expenditure: capital or revenue
- BIM62031: Open cast mines: working and restoration expenditure
- BIM62035: Restoration expenditure: rent payable in respect of any land or easement
- BIM62040: Mineral extraction allowance
- BIM62045: Coltness Iron Company v Black [1881] 1TC287
- BIM62050: Bonner v Basset Mines Ltd [1912] 6TC146
- BIM62055: Shingler v P Williams & Sons [1933] 17TC574
- BIM62060: Robert Addie and Sons' Collieries Ltd v CIR [1924] 8TC671
- BIM62065: RTZ Oil and Gas Ltd v Elliss [1987] 61TC132
- BIM62070: Bullcroft Main Collieries Ltd v O'Grady [1932] 17TC93
- BIM62075: Earl Fitzwilliam's Collieries Co v Phillips [1943] 25TC430
- BIM62080: CIR v New Sharlston Collieries Co Ltd [1936] 21TC69
- BIM62085: CIR v Hope [1937] 21TC116
- BIM62090: Royalties relief: introduction
- BIM62092: Royalties relief: scope
- BIM62094: Royalties relief: mixed payments
- BIM62096: Royalties relief: Northern Ireland
- BIM62098: Royalties relief: method of giving relief
- BIM62101: Missionaries
- Close sectionBIM62200: Moneylenders
- Close sectionBIM62600: Nurseries and market gardens
- BIM62651: Nurses
- BIM63151: Pawnbrokers
- Close sectionBIM64000: Private finance initiative
- Background
- Non-statutory business clearance procedure
- Property business
- Scope of trade
- Close sectionAccounting
- BIM64070: Accounting
- BIM64075: Accounting: FRS5 Application note F
- BIM64080: Accounting: FRS5 and SSAP21
- BIM64085: Accounting: FRS5 and SSAP9
- BIM64090: Accounting: FRS5 reporting the substance of transactions
- BIM64095: Accounting: FRS5 key factors
- BIM64100: Accounting: FRS5 example 1
- BIM64105: Accounting: FRS5 example 2
- BIM64110: Accounting: FRS5 example 3
- BIM64115: Contract accounting: bid costs
- BIM64116: Contract accounting: recharge of bid costs to another company: income of the bidding company
- Close sectionAccounting and tax
- BIM64120: Accounting and tax
- BIM64125: Accounting and tax: income and expenditure recognition: unitary charge
- BIM64130: Accounting and tax: income and expenditure recognition: deductions
- BIM64135: Accounting and tax: income and expenditure recognition: table of examples
- BIM64140: Accounting and tax: income and expenditure recognition: example 1
- BIM64145: Accounting and tax: income and expenditure recognition: example 2
- BIM64150: Accounting and tax: income and expenditure recognition: example 3
- BIM64155: Accounting and tax: income and expenditure recognition: example 4
- BIM64160: Accounting and tax: income and expenditure recognition: example 5
- BIM64165: Accounting and tax: income and expenditure recognition: example 6
- Close sectionContribution of land
- BIM64170: Contribution of land
- BIM64175: Contribution of land: reverse premiums
- BIM64180: Contribution of land: capital or revenue receipt
- BIM64185: Contribution of land: allocation against capital expenditure
- BIM64190: Contribution of land: value of asset
- BIM64195: Contribution of land: investment or trading stock
- BIM64200: Contribution of land: chargeable gains consequences
- BIM64205: Contribution of land: example 1
- BIM64210: Contribution of land: example 2
- BIM64215: Contribution of land: example 3
- BIM64220: Contribution of land: example 4
- Third party revenue
- Bid costs
- Pre-trading expenditure
- Close sectionInterest
- BIM64240: Interest
- BIM64245: Interest: trade
- BIM64250: Interest: trade: table of examples
- BIM64255: Interest: trade: example 1
- BIM64260: Interest: trade: example 2
- BIM64265: Interest: trade: example 3
- BIM64270: Interest: trade: example 4
- BIM64275: Interest: trade: example 5
- BIM64280: Interest: trade: example 6
- BIM64285: Interest: trade: example 7
- BIM64290: Interest: trade: example 8
- BIM64295: Interest: non-trade
- BIM64300: Interest: non-trade: table of examples
- BIM64305: Interest: non-trade: example 1
- BIM64310: Interest: non-trade: example 2
- BIM64315: Interest: non-trade: example 3
- BIM64320: Interest: non-trade: example 4
- BIM64325: Interest: pre-trading
- BIM64330: Interest: pre-trading: table of examples
- BIM64335: Interest: pre-trading: example 1
- BIM64340: Interest: pre-trading: example 2
- BIM64345: Interest: pre-trading: example 3
- BIM64350: Interest: pre-trading: example 4
- BIM64355: Interest: pre-trading: example 5
- BIM64360: Interest: pre-trading: example 6
- Deemed premium on lease
- Refinancing gains
- Refinancing gains: interest
- Capital allowances
- Group relief
- BIM65001: Prostitution
- Close sectionBIM65150: Research grants and fellowships
- Close sectionBIM65800: Solicitors
- BIM65801: Bank interest received: Liability to tax
- BIM65805: Bank interest received: Solicitors' rules
- BIM65810: Interest received on behalf of non-resident clients
- BIM65815: Duty to deduct tax on interest paid to a client
- BIM65820: Requirement to provide details of interest to HMRC
- BIM65830: Temporary loans and guarantees
- Close sectionBIM66000: Sports testimonials
- Close sectionBIM66200: Subcontractors
- Close sectionBIM66300: Sub-postmasters
- BIM66601: Theatre backers
- Close sectionBIM66650: Timber merchants
- Close sectionBIM67000: Underwriting of shares
- Close sectionBIM67200: DVD and blu-ray traders
- Close sectionBIM67400: Waste disposal
- BIM67405: Background
- Site restoration
- BIM67415: Site restoration: capital/revenue
- BIM67420: Site restoration: relief for capital payments
- BIM67430: Site restoration: expenditure not allowable
- BIM67435: Site restoration: expenditure not allowable: provisions
- Site preparation
- BIM67450: Site preparation: capital expenditure
- BIM67455: Site preparation: capital expenditure: qualifying expenditure
- BIM67460: Site preparation: revenue expenditure
- BIM67465: Site preparation: conditions
- BIM67480: Site preparation: calculation of relief
- BIM67495: Site preparation: calculation of relief: example
- BIM67516: Site preparation: memorandum of understanding
- BIM67520: Site preparation: entitlement of successor to deductions
- Landfill Tax
- BIM67525: Landfill Tax
- Definitions
- BIM67540: Definitions: site restoration payment
- BIM67545: Definitions: waste disposal licence
- BIM67550: Definitions: relevant planning obligation
- BIM67600: Wayleaves
- BIM67701: Woodlands
- Close sectionBIM70000: Cash basis: contents
- BIM70005: Overview
- BIM70010: Eligibility
- BIM70011: Eligibility: partnerships
- BIM70015: Receipts: overview
- BIM70020: Receipts: capital receipts
- BIM70025: Receipts: value of trading stock on cessation of trade, value of work in progress on cessation of profession or vocation
- BIM70030: Expenses: overview
- BIM70035: Expenses: capital expenditure
- BIM70036: Expenses: capital expenditure: Land
- BIM70037: Expenses: capital expenditure: Intangible Assets
- BIM70038: Expenses: capital expenditure: Financial Assets
- BIM70039: Expenses: capital expenditure: Transitional arrangements 2017-2018
- BIM70040: Expenses: interest payments and incidental costs of obtaining finance
- BIM70050: Rules not applied in calculating profits
- BIM70055: Leaving the cash basis
- BIM70060: Transitional adjustments: entering the cash basis: overview
- BIM70065: Transitional adjustments: entering the cash basis: examples: debtors, creditors, stock
- BIM70066: Transitional adjustments: entering the cash basis: examples: accruals and prepayments
- BIM70067: Transitional adjustments: entering the cash basis
- BIM70068: Transitional adjustments: entering the cash basis: examples: successions between connected persons
- BIM70069: Transitional adjustments: entering the cash basis: examples: VAT, finance leasing
- BIM70070: Transitional adjustments: leaving the cash basis: overview
- BIM70071: Transitional adjustments: leaving the cash basis: calculation
- BIM70072: Transitional adjustments: leaving the cash basis: prepayments
- BIM70073: Transitional adjustments: leaving the cash basis: capital expenditure
- BIM70075: Alternative basis
- Close sectionBIM75000: Simplified expenses: contents
- Close sectionBIM80000: Computing the amount to assess: contents
- Close sectionBIM80500: Business changes
- BIM80501: A matter of fact
- BIM80505: Commencement: general principles
- BIM80510: Commencement: manufacturers and retailers
- BIM80515: Commencement: high technology businesses
- BIM80520: Commencement: mining and similar businesses
- BIM80525: Commencement: trading before company formation
- BIM80530: One trade or more than one trade: general principles
- BIM80535: One trade or more than one trade: companies
- BIM80540: One trade or more than one trade: decided cases
- BIM80545: One trade or more than one trade: carrying on a trade and a profession
- BIM80550: One trade or more than one trade: same trade by different entities
- BIM80555: One trade or more than one trade: losses
- BIM80565: Cessation: general principles
- BIM80570: Cessation: death and insolvency
- BIM80575: Cessation: collection of trade debts
- BIM80580: Cessation: break in activities
- BIM80585: Cessation: professions and vocations
- BIM80590: Changes in scale, nature or location of trade: general principles
- BIM80595: Changes in scale, nature or location of trade: organic unity
- BIM80600: Changes in scale, nature or location of trade: part-time to full-time
- BIM80605: Changes in scale, nature or location of trade: relocations
- BIM80610: Changes in scale, nature or location of trade: changes in residence status
- BIM80615: Changes in scale, nature or location of trade: business expansion
- BIM80620: Succession and changes in ownership: what is a succession?
- BIM80625: Succession and changes in ownership: professions and vocations
- BIM80630: Succession and changes in ownership: effect of succession on the charge to tax
- BIM80635: Succession and changes in ownership: partial changes in ownership
- BIM80640: Succession and changes in ownership: succession and part-trades
- BIM80645: Succession and changes in ownership: is a sale of a business to another trader a succession?
- BIM80650: Succession and changes in ownership: factors affecting succession
- BIM80655: Succession and changes in ownership: insolvency
- BIM80660: Succession and changes in ownership: date of succession
- BIM80665: Succession and changes in ownership: apportionment of profits
- BIM80675: Succession and changes in ownership: expansion by acquiring a business as a going concern
- BIM80680: Succession and changes in ownership: mergers
- BIM80685: Succession and changes in ownership: demergers
- BIM80690: Professional work in progress at cessation
- Close sectionBIM81000: Computation of liability: contents
- BIM81001: Introduction to basis periods
- BIM81010: Basis periods - general rules
- BIM81015: Commencement years
- BIM81020: First accounting date just before end of tax year
- BIM81025: Year of cessation
- BIM81030: Slight variations in accounting date
- BIM81035: Change of accounting date - introduction
- BIM81040: Change of accounting date - years 1 - 3
- BIM81045: Change of accounting date - year 4 onwards
- BIM81050: Change of accounting date - year 4 onwards - commercial reasons for change
- BIM81055: Change of accounting date - year 4 onwards - year after ineffective change
- BIM81060: Change of accounting date - year 4 onwards - examples
- BIM81065: Apportioning profits to basis periods
- BIM81070: Apportioning losses to basis periods
- BIM81075: Overlap relief - introduction
- BIM81080: Overlap relief - computation
- BIM81085: Overlap relief - how given
- BIM81090: Overlap relief - given on change of accounting date
- BIM81095: Overlap relief - given on cessation
- BIM81100: Introduction to ‘previous year’ basis period rules
- BIM81105: Previous year basis - 1996-1997 transitional rules
- BIM81110: Previous year basis - transitional overlap relief
- BIM81200: Tax year basis and transitional rules: contents
- BIM82000: Partnerships: general notes: contents
- BIM82100: Limited & limited liability partnerships: contents
- BIM82200: Partnerships: computation & assessment: contents
- BIM82400: Partnerships: mergers & demergers: contents
- BIM82600: Partnerships: loss relief restrictions: contents
- BIM82700: Mixed Membership Partnerships: contents
- Close sectionBIM84000: Averaging
- BIM84001: Introduction
- BIM84050: Who can claim
- BIM84055: Farmers
- BIM84060: Creative works
- BIM84100: Checklist
- BIM84115: Which years may be averaged
- BIM84120: Profits for the purpose of averaging
- BIM84130: When Profits can be averaged
- BIM84135: Marginal relief
- BIM84140: Successive claims
- BIM84145: Giving effect to a claim
- BIM84150: Amendments to profits: reasons other than averaging: averaging claim in place
- BIM84155: Claims: time limit
- BIM84160: Claims to other reliefs
- BIM84165: Postponement of payment of tax and interest
- BIM84170: Adjustments to reliefs
- BIM84185: Partnerships
- BIM84210: Example of a two year claim
- BIM84220: Example of a five year claim
- BIM84230: Example of amendment to profits following averaging
- BIM84240: Example of amendment to profit without averaging
- BIM84250: Example of a two year claim with loss cap restriction
- Close sectionBIM85000: Trading losses
- BIM85005: When a loss is made
- BIM85010: Types of relief
- BIM85015: Types of relief - Relief against general income
- BIM85020: Types of relief - Extended loss relief - 2008-09 and 2009-10 losses
- BIM85025: Types of relief - Relief against chargeable gains
- BIM85030: Types of relief - Relief against chargeable gains - computation of relief
- BIM85035: Types of relief - Relief against chargeable gains - gains subsequently relieved
- BIM85040: Types of relief - Relief against chargeable gains - examples
- BIM85045: Types of relief - Relief for losses in early years of trade
- BIM85050: Types of relief - Relief for losses in early years of trade - breaks in trade
- BIM85055: Types of relief - Terminal loss relief
- BIM85060: Types of relief - Carry forward of losses
- BIM85065: Claims to relief
- BIM85070: Claims to relief - Claims involving more than one year
- BIM85075: Claims to relief - Time limits for claims
- BIM85080: Claims to relief - Part claims and priority of claims
- BIM85085: Claims to relief - Changes to claims
- BIM85090: Claims to relief - Title to relief
- Close sectionBIM85600: Farming losses
- BIM85601: General
- BIM85605: Trade loss relief against general income
- BIM85615: Test of commerciality
- BIM85620: Restriction of relief after 5 years of losses
- BIM85625: Operation of five year rule
- BIM85630: Loss considered is loss incurred in year to 5 April
- BIM85635: Notional cessations and recommencements
- BIM85640: Let-out for long term ventures
- BIM85645: Let-out where farming part of larger undertaking
- BIM85650: Avoidance
- BIM85700: Losses: restriction of relief: contents
- Close sectionBIM86000: Trading and Miscellaneous Income Allowance
- Close sectionBIM80500: Business changes
- Close sectionBIM90000: Post-cessation receipts and expenses: contents
- BIM90005: Has the trade ceased?
- BIM90010: Charge to tax
- BIM90015: Territorial scope of the provisions
- BIM90020: Person liable to tax
- BIM90025: Amount arising is relevant UK earnings
- BIM90030: Meaning of post-cessation receipts
- BIM90035: Meaning of post-cessation receipts: Debt paid after cessation
- BIM90040: Meaning of post-cessation receipts: Debt released after cessation
- BIM90045: Meaning of post-cessation receipts: Receipts relating to post-cessation expenses
- BIM90050: Meaning of post-cessation receipts: Transfer of rights if transferee does not carry on the trade
- BIM90055: Receipts which are not post-cessation receipts: Transfer of trading stock
- BIM90060: Receipts which are not post-cessation receipts: Transfer of work in progress
- BIM90065: Receipts which are not post-cessation receipts: Lump sums paid to personal representatives for copyright
- BIM90070: Receipts which are not post-cessation receipts: Transfer of rights if the transferee carries on the trade
- BIM90075: Election to carry back post-cessation receipts
- BIM90080: Meaning of post-cessation expenses
- BIM90085: Other provisions relieving expenses incurred after the cessation of the trade
- BIM90090: Overview of reliefs for post-cessation expenses
- BIM90095: Relief for post-cessation expenses against post-cessation receipts
- BIM90100: Post-cessation trade relief
- BIM90105: Post-cessation trade relief: Reduction for unpaid trade expenses
- BIM90110: Post-cessation trade relief: Meaning of qualifying payment
- BIM90115: Post-cessation trade relief: Meaning of qualifying event
- BIM90120: Post-cessation trade relief: Targeted anti-avoidance provision
- BIM90125: Post-cessation trade relief: Interaction with relief for liabilities of a former employment
- BIM90130: Post-cessation expenses set against chargeable gains
- BIM90135: Carry forward of unrelieved post-cessation expenses
- Close sectionBIM100000: Miscellaneous income: contents
- BIM100101: Scope of the provisions: overview
- BIM100105: Scope of the provisions: judicial comment
- BIM100110: Scope of the provisions: services
- BIM100115: Scope of the provisions: services - contracts and arrangements
- BIM100120: Scope of the provisions: services - amount of work done
- BIM100125: Scope of the provisions: sweep-up - introduction
- BIM100130: Scope of the provisions: sweep-up - judicial comment
- BIM100135: Scope of the provisions: isolated sales of assets
- BIM100140: Scope of the provisions: series of sales of assets
- BIM100150: Calculating the profits
- BIM100155: Deductions
- BIM100190: Losses
- BIM100205: Particular sources: authors
- BIM100210: Particular sources: cash-backs
- BIM100215: Particular sources: guarantees
- BIM100220: Particular sources: hire of equipment
- BIM100225: Particular sources: loans
- BIM100230: Particular sources: newspaper stories
- BIM100235: Particular sources: photography
- BIM100240: Particular sources: restraint of trade
- BIM100245: Particular sources: film and television
- BIM100250: Particular sources: tolls
- Close sectionBIM100350: Sale of income by an individual in exchange for capital: contents
- BIMFEEDBACK: BIM Feedback