ELECTIONS

Related Commentary  Related HMRC Manuals

12(1)  An election to which this paragraph applies must be made in an interest restriction return for the period of account (or, as the case may be, the first period of account) to which the election relates.

12(2)  If an election to which this paragraph applies is capable of being revoked, the revocation must be made in an interest restriction return for the period of account (or, as the case may be, the first period of account) to which the revocation relates.

12(3)  This paragraph applies to the following elections–

(a)a group ratio election (see paragraph 13);

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