Taxation of Chargeable Gains Act 1992 Schedule 5AAA paragraph 42

Meaning of "designated HMRC officer"

Paragraph 42 defines the term "designated HMRC officer" as used in this Part of the Schedule, identifying who has authority to revoke elections made under the transparency election provisions.

• A "designated HMRC officer" is an officer of Revenue and Customs specifically appointed for this role.
• The designation must be made by the Commissioners for His Majesty's Revenue and Customs.
• The sole purpose of the designation is to grant authority to revoke elections made under paragraph 12 of the Schedule.
• Not every HMRC officer holds this power — only those formally designated by the Commissioners may act in this capacity.