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Section 162 | Ring fence trade a separate qualifying activity

From legislation.gov.uk

(1)If a person carries on a ring fence trade, it is a separate qualifying activity for the purposes of this Part.

(2)In this Chapter “ring fence trade” means activities which—

(a)fall within the definition of “oil-related activities” in section 16(2) of ITTOIA 2005 or section 274 of CTA 2010, andF1F2

(b)constitute a separate trade (whether as a result of section 16(1) of ITTOIA 2005 or section 16(1) of ITTOIA 2005 or section 279 of CTA 2010 or otherwise).F3F4