304 Excluded activities: wholesale and retail distribution
Income Tax Act 2007 (2007 c 3) | Legislation

304  Excluded activities: wholesale and retail distribution

(1)     This section supplements section 303(1)(b).

(2)     In this section—

(a)     subsections (3) and (4) are for determining whether a trade is a trade of wholesale or retail distribution, and

(b)     subsections (5) and (6) are for determining whether a trade of wholesale or retail distribution is an ordinary trade of wholesale or retail distribution.

(3)     A trade of wholesale distribution is one in which goods are offered for sale and sold to persons for resale by them, or for processing and resale by them, to members of the general public for their use or consumption.

(4)     A

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