§ Mr. Geoffrey Lloydasked the Chancellor of the Exchequer whether considering together the time limit for election, for Budget day valuation of land, under section 25(i) of Schedule 6 to the 225W Finance Act 1965, and the time limit for notice of appeal under section 3 of the Capital Gains Tax Regulations, Statutory Instrument, 1967, No. 149, he will take steps to increase the latter limit so as to allow a period adequate for the preparation of the often complex matters involved.
§ Mr. DiamondNo. The time limit of thirty days in Regulation 3 of the Capital Gains Tax Regulations is the same as that provided for other tax appeals. It does not affect the taxpayer's right to make an election under paragraph 25(1), 6th Schedule, Finance Act 1965, within two years of the date of the disposal.