BIM37000 - Wholly and exclusively: contents

In S34 Income Tax (Trading and Other Income) Act 2005 for unincorporated companies and S54 Corporation Tax Act 2009 for companies, the statute says that expenditure cannot be deducted in computing trading profits unless it is incurred wholly and exclusively for the purposes of the trade, profession or vocation. The guidance that follows describes this statutory restriction.

A full list of the contents of the guidance on wholly & exclusively is shown below. The guidance is subdivided into sections, the contents page of each section being listed below. Please click on the page number alongside to go direct to each contents page.

1. BIM37005

   Topics covered
2. BIM37007

   Overview
3. BIM37010

   Statutory background: what the guidance covers: contents
4. BIM37050

   How to establish purpose: contents
5. BIM37100

   Case law: contents
6. BIM37600

   Duality of, or non-trade, purpose: travel costs: contents
7. BIM37650

   Duality of, or non-trade, purpose: non travel topics: contents
8. BIM37700

   Duality of, or non-trade, purpose: remuneration, etc: contents
9. BIM37750

   Duality of, or non-trade, purpose: loans/advances to others: whose trade purpose?: contents
10. BIM37800

    Expense of earning or application of profits?: contents
11. BIM37900

    Expenditure having an intrinsic duality of purpose: contents
12. BIM38100

    Partnerships
13. BIM38200

    Companies
14. BIM38300

    Commencement, cessation or sale of business: contents
15. BIM38400

    Artificial prices
16. BIM38500

    Fines, penalties and damages: contents
17. BIM38600

    Tax cases referred to in the guidance