Paragraph 12 Commencement of paragraphs 4 to 11
United Kingdom
The amendments made by paragraphs 4 to 11 have effect—
(a)
in relation to chargeable periods ending on or after 1 January 2026 but that commence before the end of the period of two years beginning with that date, in relation to borrowing occurring on, or after, 1 January 2026, and
(b)
for all purposes—
(i)
in relation to chargeable periods commencing on or after the end of that period, or
(ii)
where a person has elected that the amendments should apply in relation to it in relation to any earlier chargeable period of the person ending on or after 1 January 2026, in relation to that period.