BIM81360 | List of examples in this guidance

From HM Revenue & Customs · Business Income Manual

Example Number	Description
1	Tax year basis – apportioning profits to calculate taxable profits arising in tax year. See .
2	Tax year basis – apportioning profits and losses to calculate taxable profit/loss arising in tax year. See .
3	Late accounting date rules – calculating profits where accounting date falls between 31 March and 4 April. See .
4	Late accounting date rules – calculating profits of trade commencing between 1 and 5 April. See .
5	Transitional rules – trade commencing in transition year (2023-24) with late accounting date. See .
6	Transitional rules – trade commencing in transition year (2023-24) with late accounting date. See .
7	Transitional rules – continuing trade, basis period for trade with 31 December accounting date. See .
8	Transitional rules – continuing trade, basis period for trade with late accounting date. See .
9	Transitional rules – continuing trade, basis period for trade with late accounting date (and change of accounting date in earlier year). See .
10	Transitional rules – calculating profits, no transition part of basis period. See .
11	Transitional rules – calculating profits, no transition part of basis period and late accounting date. See .
12	Transitional rules – calculating profits with transition part, profit-making trade, no overlap profits. See .
13	Transitional rules – calculating profits with transition part, profit-making trade with overlap profits. See .
14	Transitional rules – calculating profits with loss in transition part and overlap profits. See .
15	Transitional rules – calculating profits with transition part, loss in standard part and overlap profits. See .
16	Transitional rules – calculating profits with loss in transition part, loss in standard part and overlap profits. See .
17	Transitional rules – calculating loss – loss increased by overlap relief. See .
18	Transitional rules – calculating loss – profit turned into loss by overlap relief. See .
19	Spreading transition profits – equal amount of profit taxed in each of the five tax years for continuing trades. .
20	Spreading transition profits – amount of profit taxed affected by trade ceasing. See .
21	Spreading transition profits – election made to accelerate amount of profits taxed in one out of the five tax years. See .
22	Spreading transition profits – election made to accelerate amount of profits taxed in two of the five tax years. See .
23	Calculating tax liability of transition profits. See .
24	Calculating tax liability of transition profits where notional net income is above £100,000. See .
25	Calculating taxable profits of partner’s continuing notional business for 2023-24. See .