Section 69 — Income Tax Act 2007: Whether trade is the same trade

Whether trade is the same trade 69 1 This section applies for the purposes of sections 67 and 68.

2 If there is a change in the persons carrying on a trade which involves all of the persons carrying it on before the change permanently ceasing to carry it on—

a the trade is treated as permanently ceasing to be carried on, and b a new trade is treated as starting to be carried on, at the date of the change (but see subsections (3) to (6)).

3 A husband and wife are treated as the same person.

4 Persons who are civil partners of each other are treated as the same person.

5 A husband or wife is treated as the same person as—

a a company of which either one of them has control, or b a company of which both have control.

6 A person's civil partner is treated as the same person as—

a a company of which either of the civil partners has control, or b a company of which both have control. 7 “ Control ” is to be read in accordance with sections 450 and 451 of CTA 2010 .