{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-87",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-87.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/87",
  "kind": "section",
  "number": "87",
  "heading": "Ring fence trades",
  "text": "(1) This section applies if—\n(a) a person makes a loss in a tax year carrying on oil-related activities (within the meaning of section 16 of ITTOIA 2005),\n(b) those activities are treated under that section as a separate trade for the tax year or a subsequent tax year,\n(c) the person makes profits in a subsequent tax year from other activities, and\n(d) the other activities and the oil-related activities would, but for that section, together form a single trade.\n(2) For the purposes of carry-forward trade loss relief for the loss, the person may treat profits from the other activities in a subsequent tax year as if they were profits of the separate trade (despite section 16 of ITTOIA 2005).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/87",
    "retrieved_at": "2026-10-29T09:13:03.599581+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}