Finance (No. 2) Act 2023 (c. 30)

Part 3 U.K. Multinational top-up tax

Chapter 5 U.K. Covered tax balance

Dealing with deferred tax assets etc U.K.

188 Further provision about elections under section 187 U.K.

(1) Paragraph 1 of Schedule 15 (long term elections) applies to an election under section 187.

(2) But that paragraph has effect for the purposes of such an election as if—

(a) sub-paragraph (4) were omitted (so that there is no restriction on revoking the election), and

(b) sub-paragraph (5) were omitted (as an election under this section cannot be made again once revoked).