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Income Tax (Earnings and Pensions) Act 2003

Paragraph 15: Meaning of “qualifying trade”

3489.This paragraph provides the definition of a qualifying trade as:

  • being carried on wholly or mainly in the United Kingdom;

  • being carried on with a view to making profits; and

  • not including (to any substantial degree) any excluded activities.

3490.The paragraph also explains to what extent research and development activities may be included.

3491.The material derives from paragraph 18 of Schedule 14 to FA 2000.

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