Paragraph 25 F1

(1)

This paragraph applies if—

(a)

a disposal is deemed to have been made by a person under paragraph 21,

(b)

a disposal is deemed to have been made by a person under paragraph 22 as a result of the revocation of an election, or

(c)

an amount is treated as accruing to a person under paragraph 23(7) or (8).

(2)

The relevant fund manager must notify the person of the matters mentioned in sub-paragraph (1)(a), (b) or (c).

(3)

The notification—

(a)

must be in writing, and

(b)

must be given within the period of 30 days beginning with the relevant time.

(4)

If this paragraph applies as result of sub-paragraph (1)(a) or (b), “the relevant time” means the time at which the deemed disposal is made.

(5)

If this paragraph applies as result of sub-paragraph (1)(c), “the relevant time” is the time at which the amount is treated as accruing.

Annotations

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