Textual Amendments
F1Pt. 5B inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 11 para. 1
(1)For the purposes of this Chapter, a trade is a qualifying trade if—
(a)it is conducted on a commercial basis and with a view to the realisation of profits, and
(b)it does not at any time in the shorter applicable period consist wholly or as to a substantial part in the carrying-on of excluded activities.
(2)References in this section and sections 257MQ to 257MT (excluded activities) to a trade are to be read without regard to the definition of “trade” in section 989.]