ETASSUM52100 - Enterprise Management Incentives (EMI): Qualifying companies: Excluded activities
Paragraphs 16-23, Schedule 5 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA)
A trade will not qualify if one or more excluded activities together amount to a substantial part of it. Excluded trading activities are:
- dealing in land, commodities or futures, or shares, securities or other financial instruments,
- dealing in goods, otherwise than in the course of an ordinary trade of wholesale or retail distribution (see ETASSUM52110),
- banking, insurance, money-lending, debt-factoring, hire purchase financing or other financial activities (see ETASSUM52190),
- leasing (including letting ships on charter, or other assets on hire) (see ETASSUM52120),
- receiving royalties or other licence fees (see ETASSUM52130),
- providing legal or accountancy services (see ETASSUM52200),
- property development (see ETASSUM52140),
- farming or market gardening (see ETASSUM52210),
- holding, managing or occupying woodlands, any other forestry activities or timber production (see ETASSUM52220),
- shipbuilding, coal and steel production (see ETASSUM52150),
- operating or managing hotels or comparable establishments or managing property used as a hotel or comparable establishment (see ETASSUM52160),
- operating or managing nursing homes or residential care homes, or managing property used as a nursing home or residential care home (see ETASSUM52170), and
- providing services or facilities for another business (see ETASSUM52180).