72(1)A TTH election ceases to have effect in relation to the purchaser if—
(a)the purchaser, without reasonable excuse, persistently fails to comply with either of the conditions mentioned in paragraph 63, and
(b)an officer of Revenue and Customs gives notice to the purchaser of the withdrawal of the election.
(2)If notice is given under sub-paragraph (1), the TTH election ceases to have effect in relation to the purchaser for the accounting period in which the notice is given and each subsequent accounting period.
(3)A notice given under sub-paragraph (1) does not affect any relief given by reference to paragraph 25 or 26 for a loss period ending before the notice is given.
(4)See paragraph 94 for provision about appeals against a decision to withdraw an election under this paragraph.