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”
F21
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F22
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F23
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F24
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F25
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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.