As explained at ¶262-750, tax relief is available if a person makes a ‘qualifying payment’ after permanently ceasing to carry on a trade. Where such a payment is made, relief is given by deducting it in calculating the person's net income for the tax year of payment (i.e. at Step 2 of the calculation at ITA 2007, s. 23) (ITA 2007, s. 97).

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