Part 4 Commencement and Transitional Provision
Finance (No 2) Act 2017 (2017 c 32) | Legislation

Part 4 Commencement and Transitional Provision

Commencement: new Part 10 of TIOPA

25

(1)     The corporate interest restriction amendments have effect in relation to periods of account of worldwide groups that begin on or after 1 April 2017.

(2)     In this paragraph “the corporate interest restriction amendments†means the amendments made by Parts 1 to 3 of this Schedule, apart from those made by paragraph 11 (repeal of Part 7 of TIOPA 2010).

(3)     Any regulations made by the Treasury or Commissioners under Part 10 of TIOPA 2010 before 1 April 2018 may have effect in relation to periods of account of worldwide groups that begin on or after 1 April 2017.

(4)     Sub-paragraphs (6) to (11) apply if—

(a)     financial statements of a worldwide group are drawn up by or on behalf of the ultimate parent in respect of a period that begins before, and ends on or after, 1 April 2017,

(b)     the period in respect of which the financial statements are drawn up is 18 months or less, and

(c)     the financial statements are drawn up before the end of the period of 30 months beginning with the beginning of the period in respect of

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