13. With effect from 1 January 2024, to reduce the amount of tax relief in respect of interest paid on money borrowed for the acquisition, construction, reconstruction or repair of a let commercial property, situated in the Bailiwick of Guernsey, allowable under section 2 of the Income Tax (Tax Relief on Interest Payments) (Guernsey) Ordinance, 2007 as amended, as follows:
% of interest paid
eligible for tax relief
2024 75%
2025 50%
2026 25%
2027 and subsequent years of charge 0%
with no such relief in respect of a let commercial property available to be carried forward to the first year of letting (should that be after 2027).