SCHEDULES

SCHEDULE 4Relief for carried-forward losses

PART 12Commencement etc

Parts 1 to 9 and 11

190

1

The amendments made by Parts 1 to 9 and 11 of this Schedule have effect in relation to accounting periods beginning on or after 1 April 2017.

2

For the purposes of those amendments, where a company has an accounting period beginning before 1 April 2017 and ending on or after that date (“the straddling period”)—

a

so much of the straddling period as falls before 1 April 2017, and so much of that period as falls on or after that date, are treated as separate accounting periods, and

b

where it is necessary to apportion an amount for the straddling period to the two separate accounting periods, it is to be apportioned—

i

in accordance with section 1172 of CTA 2010 (time basis), or

ii

if that method would produce a result that is unjust or unreasonable, on a just and reasonable basis.

3

But sub-paragraph (2)(b) is to be ignored if paragraph 191 or 192 applies.