A limited company has traded for many years and has significant tax losses. It is now considering diversifying its business. The new part of the business will be totally different from the ongoing trade and may well make profits. Can the brought forward losses be set against these profits or will HMIT deem that it is not the same trade.
Mark Wrigglesworth
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same trade
was the "same trade" a factor before 30 Sept 1993 - I was wondering why Tolleys Corporation Tax seems to imply that the "same trade" is required?