Paragraph 64 Application of this Part of this Schedule

United Kingdom

(1)

This Part of this Schedule applies in relation to a person (“the trader”) who—

(a)

carries on a trade (alone or in partnership) in the tax year 2023-24,

(b)

does not start to carry on the trade in that tax year, and

(c)

does not permanently cease to carry on the trade in that tax year.

(2)

This Part of this Schedule applies to professions and vocations as it applies to trades.