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HMRC internal manual

Business Income Manual

From
HM Revenue & Customs
Updated
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Meaning of trade: mutual trading and members clubs: non-mutual insurance trading activities: contents

Introduction and layout of guidance

As explained in BIM24001 there have historically been three separate strands to the umbrella topic of mutual trading:

  • mutual insurance
  • other trading activities, and
  • social and recreational activities.

The first two involve mutual trading whereas the third category strictly does not. The guidance also follows this approach. Guidance on mutual insurance is in the General Insurance Manual at GIM9000 onwards. The following guidance covers: