Income Tax Act 2007 section 196C

Excluded activities: producing steel

Section 196C defines what "steel" means for the purposes of the Enterprise Investment Scheme's excluded activities rules.

  • Producing steel is an excluded activity under the Enterprise Investment Scheme (EIS)
  • "Steel" is defined by reference to the specific list of steel products in Annex 1 to the EU Guidelines on national regional aid (2006/C 54/08)
  • The relevant guidelines were published in the Official Journal on 4 March 2006
  • Companies whose trade consists of producing any of those listed steel products cannot qualify for EIS relief

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