303Meaning of “excluded activities”U.K.
(1)The following are excluded activities for the purposes of sections 290 and 300—
(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),
(e)receiving royalties or licence fees,
(f)providing legal or accountancy services,
(g)property development,
(h)farming or market gardening,
(i)holding, managing or occupying woodlands, any other forestry activities or timber production,
[F1(ia)shipbuilding,
(ib)producing coal,
(ic)producing steel,]
(j)operating or managing hotels or comparable establishments or managing property used as an hotel or comparable establishment,
(k)operating or managing nursing homes or residential care homes or managing property used as a nursing home or residential care home, F2...
[F3(ka)the subsidised generation or export of electricity, F4...]
[F5(kb) the subsidised generation of heat or subsidised production of gas or fuel, F6...]
[F7(kc)making reserve electricity generating capacity available (or, where such capacity has been made available, using it to generate electricity), and]
(l)any activities which are excluded activities under section 310 (provision of services or facilities for another business).
(2)Subsection (1) is supplemented by the following provisions—
(a)section 304 (wholesale and retail distribution),
(b)section 305 (leasing of ships),
(c)section 306 (receipt of royalties and licence fees),
(d)section 307 (property development),
[F8(da)section 307A (shipbuilding),
(db)section 307B (producing coal),
(dc)section 307C (producing steel),]
(e)section 308 (hotels and comparable establishments), F9...
(f)section 309 (nursing homes and residential care homes) [F10, F11...
(g)section 309A (subsidised generation or export of electricity)] [F12, and
(h)section 198B (subsidised generation of heat and subsidised production of gas or fuel)].
Textual Amendments
F1S. 303(1)(ia)-(ic) inserted (retrospective to 6.4.2008) by Finance Act 2008 (c. 9), Sch. 11 paras. 8(a), 10 (with Sch. 11 paras. 12, 13)
F2Word in s. 303(1)(k) omitted (17.7.2012) (with effect in accordance with Sch. 8 para. 22 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 8 para. 11(2)
F3S. 303(1)(ka) inserted (17.7.2012) (with effect in accordance with Sch. 8 para. 22 of the amending Act) by Finance Act 2012 (c. 14), Sch. 8 para. 11(2)
F4Word in s. 303(1)(ka) omitted (with effect in accordance with s. 56(9) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 56(5)(a)
F5S. 303(1)(kb) inserted (with effect in accordance with s. 56(9) of the amending Act) by Finance Act 2014 (c. 26), s. 56(5)(a)
F6Word in s. 303(1)(kb) omitted (with effect in accordance with s. 27(4) of the amending Act) by virtue of Finance (No. 2) Act 2015 (c. 33), s. 27(2)(a)
F7S. 303(1)(kc) inserted (with effect in accordance with s. 27(4) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 27(2)(b)
F8S. 303(2)(da)-(dc) inserted (retrospective to 6.4.2008) by Finance Act 2008 (c. 9), Sch. 11 paras. 8(b), 10 (with Sch. 11 paras. 12, 13)
F9Word in s. 303(2)(e) omitted (17.7.2012) (with effect in accordance with Sch. 8 para. 22 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 8 para. 11(3)
F10S. 303(2)(g) and preceding word inserted (17.7.2012) (with effect in accordance with Sch. 8 para. 22 of the amending Act) by Finance Act 2012 (c. 14), Sch. 8 para. 11(3)
F11Word in s. 303(2)(f) omitted (with effect in accordance with s. 56(9) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 56(5)(b)
F12S. 303(2)(h) and word inserted (with effect in accordance with s. 56(9) of the amending Act) by Finance Act 2014 (c. 26), s. 56(5)(b)