VCM17030 - Qualifying trades: Excluded activities - general

ICTA/S297 (2); ITA/S189; ITA/S192; ITA/S300; ITA/S303;; FA00/SCH15/PARA25 (1)

A trade is not a qualifying trade if it consists (for the EIS, at any time in the relevant period) of certain activities, or if such activities amount, in aggregate, to a “substantial part “ of it (see VCM17040). Those activities are as follows:

• dealing in land (see VCM17050),
• dealing in commodities (see VCM17060), futures or (subject to exceptions for wholesaling and retailing) goods (see VCM17070),
• dealing in shares, securities or other financial instruments,
• banking, insurance, money lending, debt factoring, hire purchase financing or other financial activities (see VCM17100),
• leasing, including the letting of assets on hire (see VCM17110) - subject to a waiver for certain lettings of ships on charter (see VCM17320),
• receiving royalties or licence fees (see VCM17120) - subject to waivers in certain cases (see VCM17310),
• providing legal or accountancy services (see VCM17130),
• property development (see VCM17050),
• farming and market gardening (see VCM17140),
• activities concerned with forestry and timber production (see VCM17150),
• shipbuilding (see VCM17155)
• coal production (see VCM17156)
• steel production (see VCM17157)
• operating or managing hotels and similar establishments (see VCM17160),
• operating or managing nursing homes and residential care homes (see VCM17170),
• providing services or facilities for any trade carried on by another person (other than the parent of the company), in certain circumstances (see VCM17250).