BIM21000 - Meaning of trade: scope of trade: contents

Having established that a trade, or a venture in the nature of trade, exists, the next question to consider is the scope of that trade. The scope of a particular trade is fundamental when questions arise concerning whether particular receipts are income of the trade, whether expenditure is incurred wholly and exclusively for the purposes of the trade, or whether expenditure is capital or revenue for tax purposes.

The guidance on scope of trade is arranged as follows:

1. BIM21001

   Introduction
2. BIM21005

   Approach
3. BIM21008

   Activities included
4. BIM21010

   Relevant case law
5. BIM21015

   Collins v The Firth-Brearley Stainless Steel Syndicate Ltd 9TC520
6. BIM21020

   The Rees Roturbo Development Syndicate Ltd v Ducker 13TC367
7. BIM21025

   The Gloucester Railway Carriage and Wagon Co Ltd v CIR 12TC720
8. BIM21030

   J Bolson & Son Ltd v Farrelly 34TC161
9. BIM21035

   The Alianza Company Ltd v Bell 5TC60 and 172
10. BIM21040

    Golden Horse Shoe (New) Ltd v Thurgood 18TC280