Part 3 Commencement
Finance (No 2) Act 2015 (2015 c 33) | Legislation

Part 3 Commencement

Surcharge

14

(1)     The amendments made by paragraphs 1 and 4 to 6 of this Schedule have effect for accounting periods beginning on or after the commencement date.

(2)     Where a company has an accounting period beginning before the commencement date and ending on or after that date (“the straddling periodâ€), sub-paragraphs (3) to (10) apply.

(3)     For the purposes of determining whether the surcharge is chargeable on the company for the straddling period and, if so, in what amount—

(a)     so much of the straddling period as falls before the commencement date, and so much of that period as falls on or after that date, are to be 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.

(4)     Accordingly, the surcharge chargeable on the company for the straddling period (if any) is equal to the surcharge that would be chargeable on the

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