BIM37010 - Wholly and exclusively: statutory background : what the guidance covers: contents

S34 Income Tax (Trading and Other Income) Act 2005, S54 Corporation Tax Act 2009

Introduction and layout of guidance

To understand the subject of 鈥榳holly and exclusively鈥� you need to place it in the statutory context of what is involved in computing profits for tax purposes. The relevant legislation is described in the following sections of guidance:

  1. BIM37020
    Statutory background: legislative starting point
  2. BIM37025
    Statutory background: expenses rule for employees
  3. BIM37030
    Statutory background: tax is charged on the full amount of profits
  4. BIM37035
    Statutory background: the statutory prohibition
  5. BIM37045
    Statutory background: appeal to be on a point of law