Finance Act 2000

Excluded activities

26 (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 other 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 27 (wholesale and retail distribution);

• paragraph 28 (leasing of ships);

• paragraph 29 (receipt of royalties and licence fees);

• paragraph 30 (property development);

• paragraph 31 (hotels and comparable establishments);

• paragraph 32 (nursing homes and residential care homes); and

• paragraph 33 (provision of facilities for another business).