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HL 30: Portfolio entity formation loss
or “Former tax rule about portfolio entity formation losses that no longer applies”
You could also call this:

“How to calculate taxable income and loss for investment types (no longer applies)”

You should know that this part of the law has been removed. It was about how to figure out the taxable income and taxable loss for different types of investments in a tax year. The law that removed this part started on 1 April 2010. This means it no longer applies to tax years from 2010-11 onwards. If you need to understand how this works now, you’ll need to look at newer parts of the tax law.

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Next up: HL 32: Treatment of portfolio class taxable loss and portfolio class land loss for tax year

or “This rule about handling certain tax losses was removed in 2010”
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Part H Taxation of certain entities
Portfolio investment entities

HL 31Portfolio class taxable income and portfolio class taxable loss for tax year (Repealed)

    Notes
    • Section HL 31: repealed, on (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).