Section 105 | Commencement and transitional provisions.

(1)Subject to Schedule 15 to this Act, this Chapter has effect—

(a)for the purposes of corporation tax, in relation to accounting periods ending after 31st March 1996; and

(b)so far as it makes provision for the purposes of income tax, in relation to the year 1996-97 and subsequent years of assessment.

(2)Schedule 15 to this Act (which contains transitional provisions and savings in connection with the coming into force of this Chapter) shall have effect.