Regulation 9 Periods for which elections have effect

Subject to the following provisions of these Regulations, an election for a trade or part of a trade shall have effect as respects that trade or part for all accounting periods beginning on or after the date on which the election is made.

Subject to the following provisions of these Regulations, an election for a trade or part of a trade made by a company which, as respects that trade or part, is within the charge to corporation tax immediately before its commencement day shall have effect as respects that trade or part of all accounting periods beginning on or after that day if the election is made before the end of the period of 92 days beginning with that day.

Subject to the following provisions of these Regulations, an election for a trade or part of a trade made by a company which, as respects that trade or part, is not within the charge to corporation tax immediately before its commencement day shall have effect as respects that trade or part for all accounting periods beginning on or after the first day on which it comes within that charge as respects that trade or part if the election is made before the end of the period of 92 days beginning with that first day.