Commentary

C2.1166 Property rich collective investment vehicles—how to elect and the impact of the exemption election

Capital gains tax
Capital gains tax | Commentary

C2.1166 Property rich collective investment vehicles—how to elect and the impact of the exemption election

Capital gains tax | Commentary

C2.1166 Property rich collective investment vehicles—how to elect and the impact of the exemption election

An exemption election must be made1:

  1.  

    •     by the manager of the CIV, and

  2.  

    •     by giving notice to an officer of HMRC specifying the date from which it is to have effect

The election has effect in relation to disposals on or after the day specified in the election. The date that the election has effect from may be up to 12 months before the date of the election2.

HMRC has confirmed it will consider cases where the specified day is more than 12 months before

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