PART 8Other exemptions
Election not to be exempt23
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An election may be withdrawn at any time specifying the date of the withdrawal.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.