Example

Claims and Elections – Disapplication of assumption

TIOPA10/S371SG allows a chargeable company to disapply all or part of the claims and election assumptions for an accounting period.

If a notice is given to an officer of HMRC within specified time limits (20 months after the end of the relevant accounting period or such longer period as an officer of HMRC may allow) and in the required form it can be assumed that the CFC:

has not made, for the accounting period, a specified claim or election that would otherwise be assumed by virtue of TIOPA10/S371SF(1) to have been made;

and

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