VCM17140 - Qualifying trades: farming and market gardening

Farming and market gardening are defined at ICTA/S832 (1) and ITA/S996. Farming is not necessarily a trade in the proper sense of the word, but is treated as a trade for all tax purposes by ICTA/S53 and ITTOIA/S9 (see BIM55051). For market gardening see BIM62601.

For the EIS, this exclusion applies only in respect of shares issued after 16 March 1998.

For the VCT scheme, it applies only in relation to investments made by a VCT with money originally raised after 16 March 1998.