Part 4: Income tax, corporation tax and capital gains tax Section 28: EIS, VCTs and EMI: meaning of "farming" Background note
This provision ensures farming activities are treated in the same way for the purposes of the EIS, SEIS, VCT and EMI. Farming activities carried on inside the UK are already excluded under the provision of sections 192(h) and 303(h) of ITA 2007 for EIS and VCT respectively and paragraph 16 of Schedule 5 to the Income Tax (Earnings and Pensions) Act (ITEPA) 2003 for EMI, in combination with section 996.