Section 198D | No double claims ^F1

(1)If P makes a claim under section 198A or 198B, no other relevant claim may be made in respect of the relevant acquisition.^F1

(2)P may make a claim under section 198A or 198B (“the new claim”), if P has previously made a claim under section 152 or 153 (“the previous claim”) in respect of the relevant acquisition.^F1

(3)But P may make the new claim only if the previous claim is withdrawn at or before the time the new claim is made.^F1

(4)If the new claim is made in accordance with subsections (2) and (3), all necessary adjustments—^F1

(a)are to be made by making or amending assessments or by repayment or discharge of tax, and^F1

(b)are to be so made despite any limitation on the time within which assessments or amendments may be made.^F1

(5)In this section—^F1

“relevant acquisition” means the acquisition of the new assets that is comprised in the disposal and acquisition to which a claim under section 198A or 198B or declaration under section 198C relates;

“relevant claim” means a claim under section 152, 153, 198A or 198B.