[F1398BThe electionU.K.
This section has no associated Explanatory Notes
(1)The election under section 398A must state the date of the relevant day.
(2)The election must be made—
(a)by notice to an officer of Revenue and Customs, and
(b)during the period of two years beginning with the relevant day.
(3)The election is irrevocable.
(4)All such assessments and adjustments of assessments are to be made as are necessary to give effect to the election.]
Textual Amendments
F1 Ss. 398A-398G and cross-heading inserted (with effect in accordance with Sch. 18 para. 9 of the amending Act) by Finance Act 2010 (c. 13), Sch. 18 para. 6 (with Sch. 18 paras. 11-13)