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HMRC internal manual

Business Income Manual

From
HM Revenue & Customs
Updated
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Measuring the profits (general rules): statutory rules: charging provisions

The main provisions charging Income Tax and Corporation Tax on trade profits are S5-S7 Income (Trading and Other Income) Act 2005 and S35 Corporation Tax Act 2009 respectively. These provisions are described at BIM14000 onwards. See in particular BIM15040 and BIM15050 onwards.