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HMRC internal manual

Business Income Manual

From:
HM Revenue & Customs
Published
22 November 2013
Updated:
24 April 2026 - See all updates

BIM64070 - Measuring the profits (particular trades): Private Finance Initiative (PFI): accounting: contents

The following summary of the accounting treatment of PFI projects is intended to provide background information only. The accounting treatment of such projects continues to evolve and HMRC Officers should refer any questions, concerning what constitutes generally accepted accounting practice, to their local compliance/advisory accountant.

Guidance on the accounting treatment to be used when dealing with PFI and similar contracts is provided by FRS5 Application Note F ‘Reporting the substance of transactions: PFI and similar contracts’.

The background information is set out as follows:

  1. BIM64075
    Accounting: FRS5 Application note F
  2. BIM64080
    Accounting: FRS5 and SSAP21
  3. BIM64085
    Accounting: FRS5 and SSAP9
  4. BIM64090
    Accounting: FRS5 reporting the substance of transactions
  5. BIM64095
    Accounting: FRS5 key factors
  6. BIM64100
    Accounting: FRS5 example 1
  7. BIM64105
    Accounting: FRS5 example 2
  8. BIM64110
    Accounting: FRS5 example 3
  9. BIM64115
    Contract accounting: bid costs
  10. BIM64116
    Contract accounting: recharge of bid costs to another company: income of the bidding company