Complex sentence: "Time to Pretend" is the debut single (in the UK) from MGMT's album "Oracular Spectacular", although an earlier version was released on their "Time to Pretend" EP.
Split into simpler sentences: Time to Pretend is a song by MGMT, and the debut single (in the UK) their album "Oracular Spectacular". An earlier version was released on their "Time to Pretend" EP.