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An election may not take effect before 1 April 2006 or from before the start of the period for which the election is first made. For example

• if a company makes an election in its return for the year to 31 December 2006 the effective date may be any date from 1 April 2006 to 31 December 2006
• if a company makes an election in its return for the year to 31 December 2007 the effective date may be any date in the year ended 31 December 2007.

»Ê¹ÚÌåÓýapp effective date cannot be after the date an election is made because the election must be made in a return for the period in which, or in the basis period in which, the election becomes effective BLM24075.