BIM75760 - Trading losses: restriction of relief: income not eligible

There are certain types of income against which ICTA88/S380 relief and ICTA88/S381 relief is not available:

1. Interest arising as a result of bond-washing activities see the Savings and Investment Manual, (ICTA88/S734 (1)).
   
   
2. Income from oil operations are excluded from the relief except where the loss arises from those activities (ICTA88/S492 (2). Inspectors should refer such cases to the Large Business Service (Oil and gas sector).