SCHEDULES
SCHEDULE 21 Self-assessment: time limits
The Taxation of Chargeable Gains Act 1992 (c. 12)
F144
1
Schedule 6 to the Taxation of Chargeable Gains Act 1992 (retirement relief etc.) shall be amended in accordance with the following provisions of this paragraph.
2
In paragraph 2(1) (election to be made by notice given to the Board not more than 2 years after the end of the year of assessment in which the disposal occurred) for “not more than 2 years after the end of” there shall be substituted “
on or before the first anniversary of the 31st January next following
”
.
3
In paragraph 5(2) (claim for relief to be made not later than 2 years after the end of the year of assessment in which the disposal occurred) for “not later than 2 years after the end of” there shall be substituted “
on or before the first anniversary of the 31st January next following
”
.
4
In paragraph 12(5)(b) (election to be made by giving notice to the inspector not later than 2 years after the end of the year of assessment in which capital distribution received)—
a
for “not later than 2 years after the end of” there shall be substituted “
on or before the first anniversary of the 31st January next following
”
; and
b
for “the inspector” there shall be substituted “
an officer of the Board
”
.
5
In paragraph 16 (aggregation of spouse’s interest in the business: election to be made by giving notice to the inspector not later than 2 years after the end of the year of assessment in which material disposal occurred)—
a
in sub-paragraph (1)(e) for “not later than 2 years after the end of” there shall be substituted “
on or before the first anniversary of the 31st January next following
”
; and
b
in sub-paragraph (2) for “the inspector” there shall be substituted “
an officer of the Board
”
.