S260 Holdover

[wenker]

Hi, does anyone know the time limit for a S260 holdover election to be revoked? It was made in 2007 as far as I can tell so assume it is well past any date but cannot find any guidance to any such time limit.

[maths]

I believe the time period in which a claim may be revoked depends upon whether the claim is made in the tax return or outside the return (under TMA 1970 Sch 1A).

If the former, the time limit is one year and ten months from the end of the tax year.

If the latter, the time limit is within twelve months from the date when the claim is made.

I stand to be corrected as this is not my area of expertise.

[bd6759]

Sounds correct to me.

[maths]

That's a surprise !!

[wenker]

Thanks all.