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23.—(1) An election by a person not to be exempt under regulation 21 or 22 must—
(a)specify the tax year in respect of which the exemption would otherwise apply; and
(b)be made before the start of that tax year.
(2) An election has effect for the tax year referred to in paragraph (1)(a) and for subsequent tax years in which the exemption would otherwise apply.
(3) An election may be withdrawn at any time specifying the date of the withdrawal.
(4) The digital requirements apply to the tax year in which the date specified in the withdrawal falls.
(5) An election and any withdrawal of an election must be made by notice to HMRC.
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