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SCHEDULES

SCHEDULE 21U.K. Self-assessment: time limits

The Taxation of Chargeable Gains Act 1992 (c. 12)U.K.

41U.K.In section 279 of the Taxation of Chargeable Gains Act 1992 (foreign assets: delayed remittances) for subsection (5) (no claim under section 279 to be made more than 6 years after end of year of assessment in which chargeable gain accrues) there shall be substituted—

(5)No claim under this section in respect of a chargeable gain shall be made—

(a)in the case of a claim for the purposes of capital gains tax, at any time after the fifth anniversary of the 31st January next following the year of assessment in which the gain accrues; or

(b)in the case of a claim for the purposes of corporation tax, more than 6 years after the end of the accounting period in which the gain accrues.