Income Tax (Earnings and Pensions) Act 2003 Schedule 5 paragraph 20C

Excluded activities: producing steel

Paragraph 20C defines the meaning of "steel" for the purposes of the excluded activities provision relating to steel production.

• The definition of "steel" is relevant to the excluded activities rules under paragraph 16(ic) of Schedule 5
• Steel means any of the steel products specifically listed in Annex 1 to the EU Guidelines on national regional aid
• The relevant guidelines are referenced as 2006/C 54/08, published in the Official Journal on 4 March 2006
• Producing steel products falling within that defined list is an excluded activity for the purposes of the enterprise management incentives scheme