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HMRC internal manual

Capital Gains Manual

Claims and elections: withdrawing an irrevocable election

Some elections are irrevocable, for example

  • an election for valuation at 6 April 1965, TCGA92/SCH2/PARA17 (4)
  • an election for rebasing to 31 March 1982, TCGA92/S35 (6)
  • an election for foreign losses, TCGA92/S16(ZA).

Withdrawal of such elections can only be allowed by the Board under its collection and management function, TMA70/S1. If you receive a request for a withdrawal of an irrevocable election you should

  • find out why the customer wishes to withdraw the election, and
  • submit your papers to Capital Gains Technical Group.