Depending on the nature of a group’s activities and how
they are organised defence expenses may be incurred either by a
trading company or by an investment company.
Where a company carries on activities falling in more than
one of these categories, (e.g. an investment company with an
ancillary trade of providing management services) it is important
to establish the precise grounds on which it is contended that the
expenditure is deductible.
Trading companies are discussed at
BIM38275 onwards.
Investment companies are discussed at
BIM38297.
