# Income Tax Act 2007, Section 189: Meaning of “qualifying trade”


(1) For the purposes of this Part, a trade is a qualifying trade if—
(a) it is conducted on a commercial basis and with a view to the realisation of profits, and
(b) it does not at any time in period B consist wholly or as to a substantial part in the carrying on of excluded activities.
(2) References in this section and sections 192 to 198 to a trade are to be read without regard to the definition of “trade” in section 989.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/189 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-189
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.