16U.K.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;
[F1(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.
Textual Amendments
F1Sch. 5 para. 16(ia)-(ic) inserted (with effect in accordance with s. 33(6) of the amending Act) by Finance Act 2008 (c. 9), s. 33(4)