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Corporation Tax Act 2010
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- UK Public General Acts
- 2010 c. 4
- PART 8A
- CHAPTER 7
- Elections under section 357A
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Changes over time for: Cross Heading: Elections under section 357A
Alternative versions:
- 17/07/2012- Amendment
- 15/09/2016- Amendment
- 16/11/2017
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[F1Elections under section 357AU.K.
Textual Amendments
F1Pt. 8A inserted (with effect in accordance with Sch. 2 paras. 7, 8 of the amending Act) by Finance Act 2012 (c. 14), Sch. 2 para. 1(1)
357GMaking of election under [F2section 357A(1) or (11)(b)] U.K.
(1)An election made by a company under [F3section 357A(1) or (11)(b)] is made by giving notice to an officer of Revenue and Customs.
(2)The notice must specify the first accounting period of the company for which the election is to have effect.
(3)The notice must be given on or before the last day on which an amendment of the company's tax return for that accounting period could be made under paragraph 15 of Schedule 18 to FA 1998.
(4)The election has effect in relation to each trade carried on by the company.
(5)Subject to section 357GA, the election has effect for the accounting period specified in the notice and all subsequent accounting periods of the company.
Textual Amendments
F2Words in s. 357G heading substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 19(2)
F3Words in s. 357G(1) substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 19(3)
357GARevocation of election made under [F4section 357A(1)] U.K.
(1)A company may revoke an election made by it under [F5section 357A(1)] by giving notice to an officer of Revenue and Customs.
(2)The notice must specify the first accounting period of the company for which the revocation is to have effect.
(3)The notice must be given on or before the last day on which an amendment of the company's tax return for that accounting period could be made under paragraph 15 of Schedule 18 to FA 1998.
(4)The revocation has effect in relation to the accounting period specified in the notice and all subsequent accounting periods of the company.
(5)An election made under [F6section 357A(1)] by a company that has given notice under this section does not have effect in relation to any accounting period of the company that begins before the end of the period of 5 years beginning with the day after the last day of the accounting period specified in the notice.]
Textual Amendments
F4Words in s. 357GA heading substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 20(2)
F5Words in s. 357GA(1) substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 20(3)
F6Words in s. 357GA(5) substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 20(4)
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