Link Report

Section 372AP (relief for lessors).

(a) the aggregate of the amounts the individual deducts in the tax year under section 372AP in computing for the purpose of section 97(1) the amount of a surplus or deficiency in respect of the rent from each qualifying premises (within the meaning of section 372AM) and each special qualifying premises (within the meaning of that section), and

(b) the aggregate of the gross amount of each rent received by the individual plus the individual’s total receipts from easements for the tax year less the deductions authorised by section 97(2) to which the individual is entitled for the tax year, other than any deduction authorised by section 372AP,

D is the total amount of deductions authorised by section 97(2) to which the individual is entitled for the tax year apart from any deduction authorised by section 372AP or section 372AU, and

R is the amount determined under this Schedule as the amount of specified relief in respect of section 372AP, but the amount so determined shall not exceed the amount determined by the formula—

SR is the aggregate of the amounts of the deductions the individual was entitled to deduct under sections 372AP and 372AU, for the tax year 2006 and each of the 3 preceding tax years, and

TR is the aggregate of the amounts of the deductions the individual was entitled to deduct under section 97(2), including deductions authorised under that section by virtue of sections 372AP and 372AU, for the tax year 2006 and each of the 3 preceding tax years.

(6) Subsections (6), (9) and (10) of section 372AP shall, with any necessary modifications, apply in relation to—

(a) the apportionment of eligible expenditure (within the meaning of section 372AN) incurred on or in relation to a qualifying premises and of the relevant cost (within the meaning of section 372AP) in relation to that premises, and

as they apply for the purposes of section 372AP.

(ba) where such an area or areas is or are to be a qualifying area for the purposes of section 372AP, that section shall apply in relation to that area or those areas in so far as that section relates to one or more of the following:

“relevant cost” has the same meaning as in section 372AP;

“relevant period” has the meaning assigned to it in section 372AP;

(i) for the purposes of sections 372AP and (in so far as it relates to that section) section 372AS, the period commencing on 1 June 1998 and ending on 31 December 2004 and ending on 31 December 2004 or, where subsection (1A) applies, ending on 31 July 2006 ending on 31 December 2006 or, where subsections (1A) and (3) apply, ending on 31 July 2008 , and

(b) the person referred to in paragraph (a) or, where the building or the part of the building is sold by that person, the person who is claiming a deduction under section 372AP or under section 372AR, as the case may be, can show that the condition in paragraph (a) was satisfied.

(1) (a) The Minister may grant a certificate (in this Chapter referred to as a “certificate of compliance”) for the purposes of section 372AP or 372AR, as the case may be, certifying that, at the time of granting the certificate and on the basis of the information available to the Minister at that time—

(b) (i) The Minister may grant a certificate (in this Chapter referred to as a “certificate of reasonable cost”) for the purposes of section 372AP or 372AR, as the case may be, certifying that, at the time of granting the certificate and on the basis of the information available to the Minister at that time—

(2) Subject to this section, a house is a qualifying premises for the purposes of section 372AP or 372AR, as the case may be, where—

but where, in the case of section 372AP, the refurbishment expenditure or, in the case of section 372AR, the qualifying expenditure relates solely to the refurbishment of a facade, this paragraph shall not apply,

(f) in so far as section 372AP is concerned, the house—

(3) Subject to this section, a house is a special qualifying premises for the purposes of section 372AP where—

(i) section 372AP on the basis that the house is a qualifying premises, or

(4) A house is not a qualifying premises for the purposes of section 372AP or 372AR unless—

(i) in the case of section 372AP—

(i) in the case of section 372AP—

(5) A house is not a qualifying premises or a special qualifying premises for the purposes of section 372AP if—

is not a qualifying premises for the purposes of section 372AP or 372AR unless the house or, in a case where the house is one of a number of houses in a single development, the development of which it is a part complies with such guidelines as may from time to time be issued by the Minister, with the consent of the Minister for Finance, for the purposes of furthering the objectives of urban renewal.

(7) A house, the site of which is wholly within a qualifying rural area, is not a qualifying premises for the purposes of section 372AP unless throughout the period of any qualifying lease related to that house, the house is used as the sole or main residence of the lessee in relation to that qualifying lease.

(8) A house which fronts on to a qualifying street or is comprised in a building or part of a building which fronts on to a qualifying street is not a qualifying premises for the purposes of section 372AP or 372AR unless—

(9) A house, the site of which is wholly within a qualifying student accommodation area, is not a qualifying premises for the purposes of section 372AP unless throughout the relevant period it is used for letting to and occupation by students in accordance with the relevant guidelines.

(9A) A house, the site of which is wholly within a qualifying student accommodation area, is not a qualifying premises or a special qualifying premises for the purposes of section 372AP—

(b) where subsection (9) or (10) of section 372AP applies, as respects expenditure incurred on the purchase of a house on or after 18 July 2002, unless a binding contract for the purchase of the house was evidenced in writing before that date.

(9C) Paragraphs (a) and (c) of subsection (9A) shall not apply as respects eligible expenditure incurred on or in relation to a house or, where subsection (9) or (10) of section 372AP applies, as respects expenditure incurred on the purchase of a house where, before 6 February 2003, the Revenue Commissioners have given an opinion in writing to the effect that the lease of the house between an investor and an educational institution referred to in the relevant guidelines, or a subsidiary (within the meaning of section 155 of the Companies Act 1963 section 7 of the Companies Act 2014) of such an institution, would be a qualifying lease.

(10) (a) A house is not a special qualifying premises for the purposes of section 372AP if the lessor has not complied with all the requirements of—

(b) A house is not a special qualifying premises for the purposes of section 372AP unless the house or, in a case where the house is one of a number of houses in a single development, the development of which it is a part complies with such guidelines as may from time to time be issued by the Minister, with the consent of the Minister for Finance, in relation to the refurbishment of houses as special qualifying premises.

(11) A house is not a qualifying premises for the purposes of section 372AP or 372AR, or a special qualifying premises for the purposes of section 372AP, unless any person authorised in writing by the Minister for the purposes of those sections is permitted to inspect the house at all reasonable times on production, if so requested by a person affected, of his or her authorisation.

(11) A house is not a qualifying premises for the purposes of section 372AP or 372AR, or a special qualifying premises for the purposes of section 372AP, unless any person authorised in writing by the Minister for the purposes of those sections is permitted to inspect the house at all reasonable times on production, if so requested by a person affected, of his or her authorisation.

(ii) other expenditure, if any, incurred at that park and ride facility in respect of which there is provision for a deduction under section 372AP,

does not exceed 25 per cent of the total expenditure incurred at that park and ride facility in respect of which an allowance or deduction is to be made or would, but for this subsection or section 372W(2)(c) or 372AP(5), be made by virtue of any provision of this Chapter or Chapter 9.

(7) Subsections (6), (9) and (10) of section 372AP, in relation to—

as they apply for the purposes of section 372AP.

(a) in relation to any claim under section 372AP(2), eligible expenditure incurred on or in relation to a qualifying premises or a special qualifying premises, and

(i) in the case of a claim under section 372AP(2), the construction of, conversion into, or refurbishment of, the qualifying premises or, as the case may be, the refurbishment of the special qualifying premises, and

(1A)(a) Where a person incurs eligible expenditure or qualifying expenditure at any time in the period 1 January 2006 to 31 July 2008 on or in relation to a qualifying premises or a special qualifying premises the amount of eligible expenditure or qualifying expenditure which is to be treated under subsection (1) as having been incurred in the qualifying period for the purposes of granting a deduction under section 372AP or under section 372AR, as the case may be, shall be reduced—

(3) (a) For the purposes of section 372AP other than those to which subsection (1) relates, expenditure incurred on the construction of, or, as the case may be, conversion into, a qualifying premises shall be deemed to have been incurred on the date of the first letting of the premises under a qualifying lease.

(b) For the purposes of section 372AP other than those to which subsection (1) relates, refurbishment expenditure incurred in relation to the refurbishment of a qualifying premises or a special qualifying premises shall be deemed to have been incurred on the date of the commencement of the relevant period, in relation to the premises, determined as respects the refurbishment to which the refurbishment expenditure relates.

(a) section 372AP, in so far as it relates to expenditure on construction,

(b) section 372AP, in so far as it relates to conversion expenditure,

(c) section 372AP, in so far as it relates to refurbishment expenditure, and

(a) section 372AP, in so far as it relates to expenditure on construction,

(b) section 372AP, in so far as it relates to conversion expenditure,

(c) section 372AP, in so far as it relates to refurbishment expenditure, and

(ba) where such an area or areas is or are to be a qualifying area for the purposes of section 372AP, that section shall apply in relation to that area or those areas in so far as that section relates to one or more of the following:

(ba) where such an area or areas is or are to be a qualifying area for the purposes of section 372AP, that section shall apply in relation to that area or those areas where such a street is to be a qualifying street for the purposes of section 372AP, that section shall apply in relation to that street in so far as that section relates to one or more of the following:

and in respect of which a deduction has been given, or would on due claim being made be given, under section 372AP or 372AR.

(b) Notwithstanding paragraph (a), subsection (2) shall not apply in relation to so much (if any) of the capital expenditure incurred in the qualifying period on the construction or refurbishment of the qualifying premises as exceeds the amount of the deduction, or the aggregate amount of the deductions, which has been given, or which would on due claim being made be given, under section 372AP or 372AR in respect of the eligible expenditure referred to in paragraph (a)(ii)(I) or the qualifying expenditure referred to in paragraph (a)(ii)(II).

(II) other expenditure, if any, in respect of which there is provision for a deduction to be made by virtue of section 372X or 372Y section 372AP or 372AR,

incurred at that park and ride facility, does not exceed one-half of the total capital expenditure incurred at that park and ride facility in respect of which an allowance or deduction is to be made or would, but for this paragraph or section 372X(4) or 372Y(2)(c) 372AP(5) or 372AR(5), be made by virtue of any provision of this Chapter this Chapter or Chapter 11.

(2A) Where section 372AP(7) applies, the amount of the excess, which by virtue of subsection (2) has been carried forward to a year of assessment in which either of the events referred to in section 372AP(7) occurs, shall be reduced by the amount represented by B in the formula in that section and this section shall not apply in that year of assessment or in any subsequent year of assessment to the amount of that reduction.

(2A) Where section 372AP(7) applies, the amount of the excess, which by virtue of subsection (2) has been carried forward to a year of assessment in which either of the events referred to in section 372AP(7) occurs, shall be reduced by the amount represented by B in the formula in that section and this section shall not apply in that year of assessment or in any subsequent year of assessment to the amount of that reduction.

(ii) under section 372AP, in computing the amount of a surplus or deficiency in respect of rent from any premises,

(b) any eligible expenditure within the meaning of Chapter 11 of Part 10, to which section 372AP applies, which is to be taken into account in computing under section 97(1) a deficiency in respect of any rent from a qualifying premises or a special qualifying premises, within the meaning of section 372AK;

(viii) where section 372AP applies in respect of an individual, the amount that the individual is deemed to have received as rent in accordance with subsection (7) of that section where the individual received, or was entitled to receive, the deduction referred to in subsection (2) of that section on or after 1 January 2012,

(B) under section 372AP, in computing the amount of a surplus or deficiency in respect of rent from any premises,

(II) under section 372AP, in computing the amount of a surplus or deficiency in respect of rent from any premises,

(a) the income of the individual from all sources for the year of assessment before any reduction is made from that income in respect of allowances, losses, deductions and other reliefs, including reductions by virtue of sections 372AP, 372AR and 372AU and, otherwise than where such allowances are made in taxing a trade, allowances under Part 9, and