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Owen and Paul start a partnership on 1 July 2012. They share profits and losses in the ratio of 1:2 until 31 March 2013, and 1:1 thereafter. The partnership makes a loss of £20,000 in the year ended 30 June 2013. Owen's allowable loss in the tax year 2012/13 is: A. £6,667 B. £5,625 C. £7,500 D. £5,000 |