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Changes over time for: Paragraph 23


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/01/2011.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2004, Paragraph 23.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
23(1)In this paragraph—U.K.
“election” means an election under paragraph 21 or 22;
“the relevant filing date” means 31st January in the year of assessment that immediately follows the initial year within the meaning of paragraph 21 or (as the case requires) paragraph 22.
(2)The election must be made in the prescribed manner.
[(3)The election must be made on or before—
(a)the relevant filing date, or
(b)such later date as an officer of Revenue and Customs may, in a particular case, allow.]
(5)The election may be withdrawn or amended, during the life of the chargeable person, at any time on or before the relevant filing date.
(6)Subject to sub-paragraph (5), the election takes effect for the purposes of inheritance tax from the beginning of the initial year within the meaning of paragraph 21 or (as the case requires) paragraph 22 or, if later, the date on which the chargeable person would (but for the election) have first become chargeable under this Schedule by reference to the property to which the election relates.
Yn ôl i’r brig