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Finance Act 1987

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Changes over time for: Paragraph 3

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Point in time view as at 01/09/1994.

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There are currently no known outstanding effects for the Finance Act 1987, Paragraph 3. Help about Changes to Legislation

3(1)Subject to sub-paragraph (2) below, an election by a participator in respect of a particular amount of expenditure may be made at any time before—U.K.

(a)the Board make, for a chargeable period of the field of origin, an assessment or determination which takes account of that amount of expenditure as qualifying for supplement; and

(b)notice of that assessment or determination is given to the participator or, as the case may be, the associated company, under paragraph 10 of Schedule 2 to the principal Act.

(2)Where the earliest date for the making of an election in respect of a particular amount of expenditure is a date determined under paragraph 2(2)(b) or paragraph 2(2)(c) above, such an election may be made at any time before notice is given as mentioned in sub-paragraph (1)(b) above or, if it is later, before the expiry of the period of thirty days beginning on the day following that earliest date.

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