SolvedVCM3090 | Excluded activities: farming or market gardening
From HM Revenue & Customs · Venture Capital Schemes Manual
S192(1)(h) and S303(1)(h) exclude farming or market gardening.
Farming and market gardening are defined at ITA07/S996.
Farming means the occupation of land wholly or mainly for the purposes of husbandry. ‘Husbandry’ includes hop growing, the breeding and rearing of horses and the grazing of horses for those purposes, as well as short rotation coppicing.
Farming is not necessarily a trade in the proper sense of the word, but is treated as a trade for all tax purposes by CTA09/S36 and ITTOIA05/S9 (see BIM55051).
Market gardening is the use of a garden or nursery for the purpose of growing produce for sale see BIM62601