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Capital Allowances Act 2001

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This is the original version (as it was originally enacted).

274Trades and undertakings which are “qualifying trades”
This section has no associated Explanatory Notes

(1)“Qualifying trade” means—

(a)a trade of a kind described in Table A, or

(b)an undertaking of a kind described in Table B, if the undertaking is carried on by way of trade.

Table A
Trades which are “qualifying trades”
1.ManufacturingA trade consisting of manufacturing goods or materials.
2.Processing

A trade consisting of subjecting goods or materials to a process.

This includes (subject to section 276(3)) maintaining or repairing goods or materials.

3.Storage

A trade consisting of storing goods or materials—

(a)

which are to be used in the manufacture of other goods or materials,

(b)

which are to be subjected, in the course of a trade, to a process,

(c)

which, having been manufactured or produced or subjected, in the course of a trade, to a process, have not yet been delivered to any purchaser, or

(d)

on their arrival in the United Kingdom from a place outside the United Kingdom.

4.Agricultural contracting

A trade consisting of—

(a)

ploughing or cultivating land occupied by another,

(b)

carrying out any other agricultural operation on land occupied by another, or

(c)

threshing another’s crops.

For this purpose “crops” includes vegetable produce.

5.Working foreign plantations

A trade consisting of working land outside the United Kingdom used for—

(a)

growing and harvesting crops,

(b)

husbandry, or

(c)

forestry.

For this purpose “crops” includes vegetable produce and “harvesting crops” includes the collection of vegetable produce (however effected).

6.FishingA trade consisting of catching or taking fish or shellfish.
7.Mineral extractionA trade consisting of working a source of mineral deposits.“Mineral deposits” includes any natural deposits capable of being lifted or extracted from the earth, and for this purpose geothermal energy is to be treated as a natural deposit.“Source of mineral deposits” includes a mine, an oil well and a source of geothermal energy.
Table B
Undertakings which are “qualifying trades” if carried on by way of trade
1.ElectricityAn undertaking for the generation, transformation, conversion, transmission or distribution of electrical energy.
2.WaterAn undertaking for the supply of water for public consumption.
3.Hydraulic powerAn undertaking for the supply of hydraulic power.
4.SewerageAn undertaking for the provision of sewerage services within the meaning of the Water Industry Act 1991 (c. 56).
5.TransportA transport undertaking.
6.Highway undertakings

A highway undertaking, that is, so much of any undertaking relating to the design, building, financing and operation of roads as is carried on—

(a)

for the purposes of, or

(b)

in connection with,

the exploitation of highway concessions.

7.TunnelsA tunnel undertaking.
8.BridgesA bridge undertaking.
9.Inland navigationAn inland navigation undertaking.
10.Docks

A dock undertaking.

A dock includes—

(a)

any harbour, and

(b)

any wharf, pier, jetty or other works in or at which vessels can ship or unship merchandise or passengers,

other than a pier or jetty primarily used for recreation.

(2)Item 6 of Table B needs to be read with Chapter 9 (application of this Part to highway undertakings).

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