This paper argues that the grammar/pragmatics division of labour should be drawn along a code versus inference distinction. On this view, grammar specifies a set of codes, while pragmatics provides a set of context-dependent inferences. However, despite this very clear grammar/pragmatics distinction, it is not necessarily trivial to determine which aspects of the interpretation are encoded and which are inferred. Such decisions must be based on empirical examinations of each case. Thus, interpretations commonly analysed as part of grammar may be reanalysed as pragmatics, and vice versa, aspects of use and interpretation previously analysed as pragmatic may turn out to be grammatical after all.