# Income Tax (Earnings and Pensions) Act 2003, Paragraph 16

Extent: E+W+S+N.I.

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 (see also paragraph 17);
(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 (see also paragraph 18);
(e) receiving royalties or licence fees (see also paragraph 19);
(f) providing legal or accountancy services;
(g) property development (see also paragraph 20);
(h) farming or market gardening;
(i) holding, managing or occupying woodlands, any other forestry activities or timber production;
(ia) shipbuilding (see also paragraph 20A);
(ib) producing coal (see also paragraph 20B);
(ic) producing steel (see also paragraph 20C);
(j) operating or managing hotels or comparable establishments, or managing property used as a hotel or comparable establishment (see also paragraph 21);
(k) operating or managing nursing homes or residential care homes, or managing property used as a nursing home or residential care home (see also paragraph 22);
(l) any activities which are excluded activities under paragraph 23.

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Source: https://www.legislation.gov.uk/ukpga/2003/1/schedule/5/paragraph/16 (the official version)
Page: https://openlegislation.uk/income-tax-earnings-and-pensions-act-2003/schedule-5/paragraph-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.