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Changes over time for: Cross Heading: Sub-fund elections: procedure


Timeline of Changes
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Point in time view as at 26/05/2015.
Changes to legislation:
Taxation of Chargeable Gains Act 1992, Cross Heading: Sub-fund elections: procedure is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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[Sub-fund elections: procedureU.K.
10U.K.A sub-fund election must be made—
(a)by notice to an officer of Revenue and Customs, and
(b)in such form as the Commissioners for Her Majesty's Revenue and Customs may require.
11U.K.A sub-fund election may not be made after the second 31st January after the year of assessment in which the date on which the election is to be treated as having taken effect falls.
12U.K.A sub-fund election must contain—
(a)a declaration by each trustee of the principal settlement that he consents to the election,
(b)a statement by the trustees of the principal settlement that the requirement in paragraph 3 is satisfied,
(c)such information as the Commissioners for Her Majesty's Revenue and Customs may require in relation to the principal settlement (which may, in particular, include information relating to the trustees, the trusts, property which is or has been comprised in the settlement, the settlors or the beneficiaries),
(d)a declaration by the trustees of the principal settlement that the information given in the election is correct, to the best of their knowledge and belief, and
(e)such other declarations as the Commissioners for Her Majesty's Revenue and Customs may require.
13U.K.A sub-fund election may not be revoked.]
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