[F1[F25U.K.If an election is made, the field ceases to be taxable with effect from the start of the first chargeable period to begin after the election is made.]]
Textual Amendments
F1Sch. 20A inserted (21.7.2008) by Finance Act 2008 (c. 9), s. 107(6), Sch. 33 para. 1
F2Sch. 20B paras. 2-7 and cross-headings substituted for Sch. 20B paras. 2-12 (retrospective to 23.11.2016) by Finance (No. 2) Act 2017 (c. 32), s. 44(1)(4)