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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2003 - onwards
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409D. Restriction of reliefs where individual is not actively participating in certain trades.

(1) In this section -

'active trader', in relation to a trade, means an individual who works for the greater part of his or her time on the day-to-day management or conduct of the trade;

'electronic' includes electrical, digital, magnetic, optical, electromagnetic, biometric, photonic and any other form of related technology;

'specified provisions' means sections 305 and 381;

'specified trade' means a trade consisting of or including -

(a) the generation of electricity,

(b) trading operations which are petroleum activities (within the meaning of section 21A),

(c) the development or production of -

(i) films,

(ii) film projects,

(iii) film properties, or

(iv) music properties,

(d) the acquisition of rights to participate in the revenues of -

(i) film properties, or

(ii) music properties,

or

(e) the production of, the distribution of, or the holding of an interest in -

(i) either or both a film negative and its associated soundtrack, a film tape or a film disc,

(ii) an audio tape or audi

Comparing proposed amendment...