- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
26(1)The repeals and revocations made by paragraph 11 of this Schedule have effect in relation to periods of account of the worldwide group that begin on or after 1 April 2017.
(2)Sub-paragraphs (4) to (10) apply if financial statements of the worldwide group are drawn up in respect of a period that begins before, and ends on or after, 1 April 2017.
(3)In sub-paragraphs (4) to (10)—
(a)“the group’s actual financial statements” means the financial statements mentioned in sub-paragraph (2);
(b)“the straddling period of account” means the period in respect of which those financial statements are drawn up.
(4)For the purposes of Part 7 of TIOPA 2010, the group’s actual financial statements are treated as not having been drawn up.
(5)Instead, financial statements of the worldwide group are treated for those purposes as having been drawn up in respect of each of the following periods—
(a)the period beginning at the time the straddling period of account begins and ending with 31 March 2017, and
(b)the period beginning with 1 April 2017 and ending at the time the straddling period of account ends.
(6)Where condition B, C or D in regulation 2 of the Acceptable Financial Statements Regulations is met in relation to the group’s actual financial statements, the financial statements treated as drawn up by sub-paragraph (5) are treated as drawn up in accordance with the generally accepted accounting principles and practice with which the group’s actual financial statements were drawn up.
(7)Where none of those conditions is met in relation to the group’s actual financial statements, the financial statements treated as drawn up by sub-paragraph (5) are IAS financial statements.
(8)Where, for the purpose of determining amounts recognised in the financial statements treated as drawn up by sub-paragraph (5), it is expedient to apportion any amount that is recognised in the group’s actual financial statements, the apportionment is to be made in accordance with section 1172 of CTA 2010 (apportionment on a time basis).
(9)But if it appears that apportionment in accordance with that section would work unjustly or unreasonably, the apportionment is to be made on a just and reasonable basis.
(10)In sub-paragraph (6), “the Acceptable Financial Statements Regulations” means the Corporation Tax (Tax Treatment of Financing Costs and Income) (Acceptable Financial Statements) Regulations 2009 (S.I. 2009/3217).
(11)Expressions used in this paragraph and in Part 7 of TIOPA 2010 have the same meaning in this paragraph as they have in that Part.
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