Paragraph 17 F1

(1)

An election under paragraph 12—

(a)

must be made by the relevant fund manager, and

(b)

must be made by notice given to an officer of Revenue and Customs.

(2)

An election under paragraph 12 must specify the day from which it is to have effect.

(3)

The election has effect in relation to disposals on or after the day specified in the election.

(4)

A day may be specified in the election even if it falls before the day on which the election is made.

(5)

But a day that falls more than 12 months before the day on which the election is made may be specified only if an officer of Revenue and Customs consents.

(6)

For this purpose—

(a)

consent may be given generally (for example, by describing, in a notice published by an officer of Revenue and Customs, cases in which consent is deemed to be given), or

(b)

consent may be given in relation to particular cases.

Annotations

Textual amendments

F1: Sch. 5AAA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 21