BIM24200 - Meaning of trade: mutual trading and members clubs: members바카라 사이트™ clubs: layout of guidance: contents

You need to consider two interrelated questions:

  • first, is there a trade (see BIM24045), and
  • second, if there is a trade, is that trade a mutual trade (see BIM24100).

The first of these questions, whether or not a trade exists, is all too often overlooked. This is of particular relevance for social and recreational clubs. This subject represents one strand of the 바카라 사이트˜mutuality바카라 사이트™ case law (mutual insurance being the other major strand - see BIM24100 onwards).

The use of the term 바카라 사이트˜mutual trading바카라 사이트™ in the context of a members바카라 사이트™ club is misleading, since when members of such clubs come together to provide facilities for themselves, their activities do not normally constitute a trade, because they lack the necessary commerciality.

If there is no trade, there can be no mutual trade and therefore you do not need to consider the issue any further.

So the practical starting point in an apparent case of mutual trading, is to consider whether there is any trade at all.

Allowable expenditure in 바카라 사이트˜mixed바카라 사이트™ cases, including part mutual and part non-mutual trading, is considered at BIM24450 onwards.

The following guidance covers:

  1. BIM24205
    Members' clubs: introduction
  2. BIM24210
    Members바카라 사이트™ clubs: distinction between proprietary and members바카라 사이트™ clubs
  3. BIM24215
    Members' clubs: Tax Bulletin article
  4. BIM24220
    Members' clubs: classes of club membership
  5. BIM24225
    Members바카라 사이트™ clubs: temporary membership
  6. BIM24230
    Members바카라 사이트™ clubs: Tax Bulletin article on temporary membership
  7. BIM24235
    Members바카라 사이트™ clubs: voting rights
  8. BIM24240
    Members' clubs: different forms of club
  9. BIM24245
    Members' clubs: incorporated as industrial & provident societies
  10. BIM24250
    Members' clubs: incorporated as limited company
  11. BIM24255
    Members' clubs: incorporated as limited company: conditions to be satisfied for members바카라 사이트™ club treatment
  12. BIM24260
    Members' clubs: incorporated as limited company: shareholder inequality
  13. BIM24300
    Members' clubs: guidance for customers
  14. BIM24305
    Members' clubs: interest paid or received
  15. BIM24315
    Members' clubs: commission income
  16. BIM24320
    Members' clubs: community associations
  17. BIM24345
    Cricket clubs
  18. BIM24350
    Golf clubs: introduction
  19. BIM24365
    Rugby clubs: introduction