BIM20200 - Trade: badges of trade: contents
The guidance on 'badges of trade' is arranged as follows:
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Origin of concept |
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Summary |
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Profit seeking motive |
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Profit seeking motive: not main purpose |
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Profit seeking motive: fiscal purpose |
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Isolated transactions |
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Repeated operations |
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Repeated operations: later transactions reflecting on first |
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Nature of the asset |
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Income producing assets |
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Tax treatment of financial transactions |
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Assets acquired for personal enjoyment |
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Assets with no income yield or 'pride of possession' |
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Quantity purchased |
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Connections with existing trade |
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Modification of the asset |
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Organisation of the activity |
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Sales organisation |
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Company formed for the purpose of the transaction |
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Reasons for sale |
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Method of finance |
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Funding from an existing trade |
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Interval of time between purchase and sale |
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Supervening trade |
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Intention: stated intention |
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Intention: unequivocal and equivocal transactions |
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Intention: dual motive transactions |
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Intention: dual motive transactions: links to non-trading undertakings or charities |
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Memorandum of association |
