Part 3: Banking Section 17 and and Schedule 3: Banking companies: surcharge Part 3: Commencement and transitory provision
Subparagraph 14(1) explains that subparagraphs 1 and 4 to 6 have effect for accounting periods beginning on or after the commencement date.
	Subparagraphs 14(2) to (4) provide that where an accounting period straddles the commencement date, this is to be treated as two separate accounting periods. Profits and losses and any credit for foreign tax are to be allocated to each period based on a time basis or if that method would produce a result that is unjust or unreasonable, a just and reasonable basis. The surcharge is chargeable on the banking company for the separate accounting period beginning with the commencement date.
	Subparagraphs 14(5) to (10)makeprovisions in respect of instalment payments. Where the straddling period results in instalment payments becoming due prior to the commencement date, these are to be treated as falling due on the first instalment date falling after the commencement date.
	Subparagraph 14(11) requires a nominated company to split its accounting period into two periods of account where its accounting period straddles 1 January 2016.
	Subparagraph 14(12) provides for section 269DN CTA 2010 to apply to arrangements entered into before or after this Act is passed.
	Subparagraph 14(13) defines surcharge for the purposes of this paragraph.
	Paragraph 15 explains that the amendment to the reporting requirements of Schedule 18 of Finance Act 1998 has effect for accounting periods ending on or after the commencement date.
	Paragraph 16 applies in relation to CFCs and contains provisions similar to paragraph 14.
	Paragraph 17 sets out that the amendments to the diverted profits tax apply for accounting periods beginning on or after the commencement date. It also sets out that any straddling period is to be treated as two separate periods with amounts being allocated on a just and reasonable basis.
	Paragraph 18 provides that the commencement date is 1 January 2016 and sets out further interpretation on instalment payments.