Related Commentary  Related CasesRelated HMRC Manuals

128(1)  A person may make a claim for employment loss relief against general income if the person–

(a)is in employment or holds an office in a tax year, and

(b)makes a loss in the employment or office in the tax year (“the loss-making year” ).

128(2)  The claim is for the loss to be deducted in calculating the person's net income–

(a)for the loss-making year,

(b)for the previous tax year, or

(c)for both tax years.

(See Step 2 of the calculation in section 23.)

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