Section 169SG — Taxation of Chargeable Gains Act 1992: Elections under sections 169SC and 169SD

Elections under sections 169SC and 169SD 169SG 1 An election under section 169SC or 169SD is irrevocable.

2 An election under section 169SC must be made on or before the first anniversary of the 31 January following the tax year in which the notional disposal is made (“the relevant tax year”).

3 An election under section 169SD may not be made more than 4 years after the end of the relevant tax year.

4 If—

a an individual makes an election under both sections 169SC and 169SD, and b a tax return under the Management Act would not otherwise be required for the relevant tax year, the individual may make the elections by giving notice on or before the first anniversary of the 31 January following the relevant tax year.