Part 4Loss relief
Chapter 3Restrictions on trade loss relief for certain partners
Non-active members of LLPs or other partnerships (apart from limited partnerships)
112F1Meaning of “early tax year”
F2(1)
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F2(2)
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F2(3)
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F2(4)
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F2(5)
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(6)
In this Chapter “early tax year” means, in relation to an individual carrying on a trade—
(a)
the tax year in which the individual first started to carry on the trade, or
(b)
one of the next 3 tax years.