# Finance Act 1993, Paragraph 5


If an election is made, the field ceases to be taxable with effect from the start of the first chargeable period to begin after the election is made.

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Source: https://www.legislation.gov.uk/ukpga/1993/34/schedule/20B/paragraph/5 (the official version)
Page: https://openlegislation.uk/finance-act-1993/schedule-20B/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.