Limited company set up for consultancy work, this dries up and a few thousand pound of losses c/f from director drawing a salary. Year or so later company takes to delivering vehicles for a fee. Now can the losses c/f be set against the profits from the delivery trade? There has been no change in ownership.
S48 (4) (a) states '(so long as the company continues to carry on the trade)' which would suggest not as the trade of consultancy has stopped.
Any help much appreciated.