35U.K.In section 35(6) of the Taxation of Chargeable Gains Act 1992 (elections under section 35(5) to be made by notice to the inspector within period ending 2 years after the end of the year of assessment or accounting period in which the disposal is made or at such later time as the Board may allow)—
(a)for “the inspector” there shall be substituted “ an officer of the Board ”; and
(b)for paragraphs (a) and (b) there shall be substituted—
“(a)in the case of an election for the purposes of capital gains tax, with the first anniversary of the 31st January next following the year of assessment in which the disposal is made;
(aa)in the case of an election for the purposes of corporation tax, 2 years after the end of the accounting period in which the disposal is made; or
(b)in either case, at such later time as the Board may allow;”.