F(No.2)A17/SCH5/PARA25(4)-(11)

Where a worldwide group draws up financial statements for a period which straddles 1 April 2017 this is referred as a straddling period of account. In this situation, the commencement rules apply on the basis that the actual accounts had not been drawn up.

Instead the rules will apply on the basis that the group had drawn up financial statements for two notional periods of accounts as follows:

· a period beginning with the start of the actual period for which accounts are drawn up and ending with the 31 March 2017,

· a period beginning with 1 April 2017 and ending with end of the actual period for which accounts are drawn up.

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