Finance Bill (HC Bill 102)

32 (1) In the case of an accounting period of a company beginning before 1 April
2018, the company may make an election under section 433 or 444 of TIOPA
2010 before that date.

(2) 35Companies making an election under section 435 of TIOPA 2010 before 1
April 2018 may specify a date in the election from which it has effect which
is before the date on which the election is made.

33 (1) This paragraph applies in the case of an accounting period of a company
beginning before 1 April 2018 (“the transitional accounting period”) if—

(a) 40the company does not meet the public infrastructure assets test, or
the public infrastructure income test, for the transitional accounting
period, but

(b) in the case of each test that it does not meet as mentioned in
paragraph (a), the company would meet the test for an accounting
45period that includes that date and is at least 3 months long.