Section 40 Election for transfer of allowance under section 39
United Kingdom
(1)
An election under section 39—
(a)
must be made F1not more than 4 years after the end of the tax year to which it relates, and
(b)
cannot be withdrawn.
(2)
If an individual makes an election for a tax year under section 39 the individual is treated as also giving notice under section 51(4) that section 51(1) (tax reductions for married couples and civil partners: transfer of unused relief) is to apply for the tax year.
Annotations
Textual amendments
- F1
Words in s. 40(1)(a) substituted (1.4.2010) by Finance Act 2008 (c. 9), s. 118(2), Sch. 39 para. 55; S.I. 2009/403, art. 2(2) (with art. 10)