For updates affecting this Division please see Part B0 Updates
B1.601 When can a business be said to start?
The question as to the date when a business was first set up and commenced is a question of law, as applied to the facts of the case1. There is no specific rule or interpretation provision on the point, and the question has, therefore, to be decided by reference to the ordinary meaning of the words in the statutory provisions and by reference to the facts of each particular case.
Similar principles apply when determining whether a change in activity is so significant as to amount to a new trade or whether a new activity is the continuance of the old trade of the start of a new one.
Commencement of trading
A distinction is drawn between setting up and commencing a trade or business and preparing to commence a trade or business. In general, the rule of thumb is that a trade is not normally commenced until
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 15:05