Finance (No. 2) Act 2015 (c. 33)

SCHEDULES

SCHEDULE 7 U.K. Loan relationships and derivative contracts

PART 6 U.K. Commencement and transitional provisions

Straddling accounting periods treated as split for certain purposes U.K.

125 U.K. If a company has an accounting period which begins before and ends on or after 1 January 2016 (“the straddling period”), so much of the straddling period as falls before that date, and so much of that period as falls on or after that date, are treated for the purposes of each of the following provisions as separate accounting periods—

• paragraph 20(4), so far as relating to section 328(3C) of CTA 2009, and

• paragraph 68(4), so far as relating to section 606(3C) of that Act.