Section 371DF | Exclusion: trading profits (the basic rule) ^F1

(1)All trading profits are to be excluded from the provisional Chapter 4 profits if the following conditions are met—

(a)the business premises condition (see section 371DG),

(b)the income condition (see section 371DH),

(c)the management expenditure condition (see section 371DI),

(d)the IP condition (see section 371DJ), and

(e)the export of goods condition (see section 371DK).

(2)Trading profits are also to be excluded from the provisional Chapter 4 profits in accordance with section 371DI(7) and (8) (so far as applicable).

(3)This section is subject to section 371DL (anti-avoidance).