Paragraph 2 Annual elections

United Kingdom

(1)

F1For the elections to which this paragraph applies, see—

F2(za)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(a)

section 186;

(b)

section 163;

(c)

section 182(8);

(d)

section 189;

F3(e)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4(ea)

section 199;

(f)

section 205;

F5(fa)

section 216;

(g)

section 217(8);

(h)

section 221(4);

F6(ha)

section 229F;

(i)

paragraph 2(9) of Schedule 16;

(j)

paragraph 3 of Schedule 16;

F7(k)

paragraph 14 of Schedule 16;

F8(l)

paragraph 1 of Schedule 16A.

(2)

An election to which this paragraph applies—

(a)

must specify the accounting period for which it is to have effect,

(b)

must be made no later than the date by which the information return or overseas return notification in respect of that period is due, and

(c)

must be included in an information return submitted to HMRC or a qualifying authority in respect of that period.

Annotations

Textual amendments

F1: Words in Sch. 15 para. 2(1) substituted (with effect in accordance with Sch. 8 para. 53(5)-(13) of the amending Act) by Finance Act 2026 (c. 11), Sch. 8 paras. 50, 53(5)-(13)
F2: Sch. 15 para. 2(1)(za) omitted (in relation to accounting periods commencing on or after 31.12.2024) by virtue of Finance Act 2025 (c. 8), Sch. 4 paras. 24, 72(3)(a)
F3: Sch. 15 para. 2(1)(e) omitted (in relation to accounting periods commencing on or after 31.12.2023) by virtue of Finance Act 2025 (c. 8), Sch. 4 paras. 48(2), 72(1)(c)
F4: Sch. 15 para. 2(1)(ea) inserted (with effect for accounting periods beginning on or after 31.12.2023 in accordance with Sch. 12 para. 1(2) of the amending Act) by Finance Act 2024 (c. 3), Sch. 12 para. 58(2)(b)(i)
F5: Sch. 15 para. 2(1)(fa) inserted (with effect for accounting periods beginning on or after 31.12.2023 in accordance with Sch. 12 para. 1(2) of the amending Act) by Finance Act 2024 (c. 3), Sch. 12 para. 58(2)(b)(ii)
F6: Sch. 15 para. 2(1)(ha) inserted (in relation to accounting periods commencing on or after 31.12.2024) by Finance Act 2025 (c. 8), Sch. 4 paras. 9(2), 10
F7: Sch. 15 para. 2(1)(k) inserted (with effect for accounting periods beginning on or after 31.12.2023 in accordance with Sch. 12 para. 1(2) of the amending Act) by Finance Act 2024 (c. 3), Sch. 12 para. 40(2)
F8: Sch. 15 para. 2(1)(l) inserted (with effect for accounting periods beginning on or after 31.12.2023 in accordance with Sch. 12 para. 1(2) of the amending Act) by Finance Act 2024 (c. 3), Sch. 12 para. 41(4)