Paragraph 19

United Kingdom

(1)

The following are excluded activities—

(a)

dealing in land, in commodities or futures or in shares, securities or other financial instruments;

(b)

dealing in goods otherwise than in the course of an ordinary trade of wholesale or retail distribution;

(c)

banking, insurance, money-lending, debt-factoring, hire-purchase financing or other financial activities;

(d)

leasing (including letting ships on charter or other assets on hire) or receiving royalties or licence fees;

(e)

providing legal or accountancy services;

(f)

property development;

(g)

farming or market gardening;

(h)

holding, managing or occupying woodlands, any other forestry activities or timber production;

(i)

operating or managing hotels or comparable establishments, or managing property used as a hotel or comparable establishment; and

(j)

operating or managing nursing homes or residential care homes, or managing property used as a nursing home or residential care home.

(2)

Sub-paragraph (1) is supplemented by the following provisions—

paragraph 20 (wholesale and retail distribution);

paragraph 21 (leasing of ships);

paragraph 22 (receipt of royalties and licence fees);

paragraph 23 (property development);

paragraph 24 (hotels and comparable establishments);

paragraph 25 (nursing homes and residential care homes); and

paragraph 26 (provision of facilities for another business).

Notes on Schedule 14

F1: Sch. 14 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)