[257MJ The trading requirement]
Income Tax Act 2007 (2007 c 3) | Legislation

[257MJ  The trading requirement]

[(1)     The social enterprise must meet the trading requirement throughout the shorter applicable period, but this does not apply if the social enterprise is an accredited social impact contractor.

(2)     The trading requirement is that—

(a)     the social enterprise is a charity,

(b)     the social enterprise is a single company that is not a charity, and its business—

(i)     does not, if things done for incidental purposes are ignored, consist to any extent in the carrying-on of non-trade activities, and

(ii)     does not consist wholly, or as to a substantial part, in the carrying-on of excluded activities, or

(c)     the social enterprise is a parent company that is not a charity, and the business

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