Section 239B | Election to accelerate charge under section 239A ^F1

From legislation.gov.uk

15 July 2026

(1)A person who under section 239A is liable to tax for a tax year on an amount of adjustment income may elect for an additional amount to be treated as arising in the tax year.^F1

(2)The election must be made on or before the first anniversary of the normal self-assessment filing date for the tax year.^F1

(3)The election must specify the amount to be treated as income arising in the tax year (which may be any amount of the adjustment income not previously charged to tax).^F1

(4)If an election is made, section 239A applies in relation to any subsequent tax year as if the amount of adjustment income (as reduced by any previous application of this section) were reduced by the amount given by the following formula—^F1

Formula

A \times \frac{6}{T}

where—

A is the additional amount treated as arising in the tax year for which the election is made, and

T is the number of tax years remaining after that tax year in the period of 6 tax years referred to in section 239A.