Related Commentary  Related HMRC Manuals

261B(1)  A person may make a claim under this section if–

(a)relief is available to the person under section 64 or 128 of ITA 2007 (trade or employment loss relief against general income) for a tax year in relation to an amount of loss, and

(b)the person makes a claim under that section for the amount to be deducted in calculating the person’s net income for the tax year.

261B(2)  A person may also make a claim under this section if–

(a)relief is available to the person as mentioned in subsection (1)(a) for a tax year in relation to an amount of loss, but

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