# The Hybrid and Other Mismatches (Financial Instruments: Excluded Instruments) Regulations 2019, Regulation 1: Citation, commencement and effect

Extent: E+W+S+N.I.

(1) These Regulations may be cited as the Hybrid and Other Mismatches (Financial Instruments: Excluded Instruments) Regulations 2019 and come into force on 1st January 2020.
(2) These Regulations have effect in relation to—
(a) payments made on or after 1st January 2020 ..., and
(b) quasi-payments in relation to which the payment period begins on or after 1st January 2020 ....
(3) Where a payment period begins before 1st January 2020 and ends on or after that date (“the straddling period”)—
(a) so much of the straddling period as falls before 1st January 2020, and so much of that period as falls on or after that date, are to be treated as separate taxable periods, and
(b) where it is necessary to apportion an amount for the straddling period to the two separate taxable periods, it is to be apportioned—
(i) on a time basis according to the respective length of the separate taxable periods, or
(ii) if that method would produce a result that is unjust or unreasonable, on a just and reasonable basis.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/uksi/2019/1345/regulation/1 (the official version)
Page: https://openlegislation.uk/hybrid-and-other-mismatches-financial-instruments-excluded-instruments-regulations-2019/regulation-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.