Farmer has not generated a profit for more than 5 years. It is not a hobby. He has pension income. He can no longer set trading losses off against pension so has losses brought forward into 2018-19. He will make another loss 2018-19 and I expect he will make them in futures years too. Instead of claiming expenses for 2018-19 he could claim trading allowance. Turnover minus trading allowance would generate a profit, but a smaller profit than the losses bought forward so the profit would be covered by losses brought forward and no tax payable. Would this count as a profit that would re-set the 5-year clock for loss restrictions?