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Finance Act 1981

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This is the original version (as it was originally enacted).

Schedule 11Relief for Investment in New Corporate Trades: Wholesale and Retail Distribution

Part I

1The goods are bought by the trader in quantities larger than those in which he sells them.

2The goods are bought and sold by the trader in different markets.

3The trader employs staff and incurs expenses in the trade in addition to the cost of the goods and, in the case of a trade carried on by a company, in addition to any remuneration paid to any person connected with it.

Part II

4There are purchases or sales from or to persons who are connected with the trader.

5Purchases are matched with forward sales or vice versa.

6The goods are held by the trader for longer than is normal for goods of the kind in question.

7The trade is carried on otherwise than at a place or places commonly used for wholesale or retail trade.

8The trader does not take physical possession of the goods.

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