F1PART 8AProfits arising from the exploitation of patents etc
Annotations:
Amendments (Textual)
CHAPTER 7Supplementary
Elections under section 357A
357GMaking of election under F2section 357A(1) or (11)(b)
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.
Pt. 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)