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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: mutual associations: specific activities: Hunt point-to-point meetings: dealings with members

Where the point-to-point is conducted in such a way as to amount to a trade, and provided that the conditions in BIM24020 are satisfied, any trading income that arises from dealings with Hunt members is not taxable on the grounds of mutual trading.