BIM37010 - Wholly & exclusively: statutory background: what the guidance covers
Introduction and layout of guidance
To understand the subject of ‘wholly and exclusively’ 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:
| BIM37020 | Legislative starting point |
| BIM37025 | Expenses rule for employees |
| BIM37030 | Tax is charged on full amount of profits |
| BIM37035 | The statutory prohibition |
| BIM37040 | Computation to accord with GAAP |
| BIM37045 | Appeal to be on a point of law |
