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HMRC internal manual

Business Income Manual

Value Added Tax: contents

This chapter explains how the Value Added Tax (VAT) rules interact with the rules for calculating the taxable profits of a trade. The chapter begins with a brief introduction to VAT and then goes on to explain the interaction in general between the two sets of tax rules. BIM31545 to BIM31620 deal with special cases. BIM31625 describes the circumstances in which you should refer to Head Office.

The chapter only deals with VAT in the context of its interaction with trade profits and is not intended to be a comprehensive guide to VAT. Detailed VAT guidance can be found in the VAT Manuals. A general guide to VAT is contained in VAT Notice 700.

The guidance is arranged as follows: