BIM70555 - Business changes: one trade or more than one trade: losses

If, as a matter of fact, a company carries on two separate trades, and one of those trades ceases ( BIM70565), ICTA88/S393 (1) prevents any losses arising in that trade from being carried forward and set off against the profits of the remaining trade. ICTA88/S385 (1) ( BIM75500) applies the same principle to individuals.