BIM24150 | Meaning of trade: mutual trading and members clubs: non-mutual insurance trading activities: contents
From HM Revenue & Customs · Business Income Manual
Introduction and layout of guidance
As explained in there have historically been three separate strands to the umbrella topic of mutual trading:
mutual insurance
other trading activities, and
social and recreational activities.
The first two involve mutual trading whereas the third category strictly does not. The guidance also follows this approach. Guidance on mutual insurance is in the General Insurance Manual at onwards. The following guidance covers: