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HMRC internal manual

Venture Capital Schemes Manual

From
HM Revenue & Customs
Updated
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Excluded activities: banking, insurance, money-lending, debt-factoring, hire-purchase financing or other financial activities

ITA07/S192(1)(c); ITA07/S303(1)(c)

These sections exclude banking, insurance, money-lending, debt-factoring, hire-purchase financing or other financial activities.

The ‘other’ financial activities that are excluded are activities comparable with those listed - in particular, ones involving the lending of money or the bearing of the customer’s financial risk. The provision of services, such as advice on financial matters, is not covered by the exclusion.