Section HM 20 — Income Tax Act 2007: Re-entering as PIE: 5-year rule

HM 20 Re-entering as PIE: 5-year rule If an entity loses PIE status through the application of sections HM 24 to HM 29 , it cannot choose to become a PIE again until 5 years have passed from the date of loss of status to the date on which a new election takes effect. Defined in this Act: PIE Compare: 2007 No 97 s HL 3(11) Section HM 20: inserted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).