Credible as beginnings of legal year (6)

I believe the answer is:

likely

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'credible' is the definition.
('likely' can be similar in meaning to 'credible')

'as beginnings of legal year' is the wordplay.
'as' becomes 'like' (I can't justify this - if you can you should give a lot more credence to this answer).
'beginnings of' indicates taking the first letters.
The initial letters of 'legal year' is 'ly'.
'like'+'ly'='LIKELY'

Can you help me to learn more?

(Other definitions for likely that I've seen before include "On the cards" , "Ilkley (anag.)" , "In prospect" , "Such as well might happen" , "Quite possible" .)

I've seen this clue in The Telegraph.

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