The taxation of financial arrangements (TOFA) rules include a number of elections (choices).
The links below take you to information you can use to make the following elections available under the TOFA rules:
For each election, you will find:
- a link to an election form for making it
- an explanation of
- what the election is
- when it must be made by
- how it can be made.
The early-start election and transitional election for existing financial arrangements can no longer be made - if you previously made any of these elections, you should keep a copy with your tax records.
TOFA elections are complex and cannot be revoked. Before making any TOFA elections carefully consider your circumstances and seek professional assistance if necessary.
Explains what elections are available under the TOFA rules, as well as when and how to make them, including election forms.