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For the purposes of sections 385 to 389, a trade or profession shall be treated as permanently discontinued and a new trade or profession set up or commenced when it is so treated for the purposes of section 69, or where by reference to section 1008(1)(a)(ii) a several trade of a partner has been deemed to have been permanently discontinued; but—

For the purposes of sections 385 to 389, a trade or profession shall be treated as permanently discontinued and a new trade or profession set up or commenced when it is so treated for the purposes of section 69, or where by reference to section 1008(1)(a)(ii) a several trade of a partner has been deemed to have been permanently discontinued; but—

(b) on any discontinuance, a person not continuing to be so engaged may be given relief in respect of a terminal loss against profits or gains on which the person was charged in respect of the same trade or profession for a period before a previous discontinuance, if the person has been continuously engaged in carrying on the trade or profession between the 2 discontinuances, and, in the person’s case, if the previous discontinuance occurred within 12 months before the others, it shall be disregarded for the purposes of section 386(2).

For the purposes of sections 385 to 389, a trade or profession shall be treated as permanently discontinued and a new trade or profession set up or commenced when it is so treated for the purposes of section 69, or where by reference to section 1008(1)(a)(ii) a several trade of a partner has been deemed to have been permanently discontinued; but—

For the purposes of sections 385 to 389, a trade or profession shall be treated as permanently discontinued and a new trade or profession set up or commenced when it is so treated for the purposes of section 69, or where by reference to section 1008(1)(a)(ii) a several trade of a partner has been deemed to have been permanently discontinued; but—