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(1)An individual qualifies for full relief for a tax year if—
(a)the individual has relevant income for the tax year,
(b)the relevant income does not exceed the individual's trading allowance for the tax year, and
(c)no election by the individual under section 783AL has effect for the tax year (election for full relief not to be given).
(2)An individual also qualifies for full relief for a tax year if—
(a)the individual has relevant income for the tax year which consists of or includes receipts of one or more relevant trades,
(b)the relevant income exceeds the individual's trading allowance for the tax year,
(c)the conditions mentioned in subsection (3) are met,
(d)no election by the individual under section 783AL has effect for the tax year, and
(e)no election by the individual under section 783AM has effect for the tax year (election for partial relief).
(3)The conditions are that—
(a)no election by the individual under section 25A (cash basis for trades) has effect for the tax year,
(b)the individual's relevant income would not exceed the individual's trading allowance for the tax year if it were to be assumed that an election by the individual under section 25A had effect for the tax year,
(c)the individual is eligible to make an election under section 25A (see section 31A) for the tax year, and
(d)if any trade carried on by the individual in the tax year was carried on in the immediately preceding tax year—
(i)an election by the individual under section 25A had effect for that preceding tax year, or
(ii)the individual was eligible to make such an election for that preceding tax year.]
Textual Amendments
F1Pt. 6A inserted (16.11.2017) (with effect in accordance with Sch. 3 para. 13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 3 para. 1
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