I12.413 Electing outA chargeable person can elect that the provisions of Sch 15 will not apply to him but that the property in question (be it land, chattels or intangibles comprised in a settlement) will, so long as he continues to enjoy it (or, in the case of intangibles comprised in a settlement, so long as it remains comprised in a settlement to which ICTA 1988, s 660A applies) be treated as property subject to a reservation in relation to him and that FA 1986, ss 102(3) and (4) will apply to it accordingly1.The election must be made on
A chargeable person can elect that the provisions of Sch 15 will not apply to him but that the property in question (be it land, chattels or intangibles comprised in a settlement) will, so long as he continues to enjoy it (or, in the case of intangibles comprised in a settlement, so long as it remains comprised in a settlement to which ICTA 1988, s 660A applies) be treated as property subject to a reservation in relation to him and that FA 1986, ss 102(3) and (4) will apply to it accordingly1.
The election must be made on
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