No 39 of 1997, Section 766, Link Report

Links from Section 766
Act	Linked to	Context
	unresolved	(c) In this Chapter, a ‘relevant micro or small sized company’ means a company which is a micro or small sized enterprise within the meaning of the Annex to Commission Recommendation 2003/361/EC of 6 May 2003 1 concerning the definition of micro, small and medium-sized enterprises.
	unresolved	1 OJ No. L124, 20.5.2003, p. 36
1992	1992	(I) provides courses to which a scheme approved by the Minister for Education and Science under the Local Authorities (Higher Education Grants) Acts 1968 to 1992 applies, or
Local Authorities (Higher Education Grants) Acts 1968	Local Authorities (Higher Education Grants) Acts 1968	(I) provides courses to which a scheme approved by the Minister for Education and Science under the Local Authorities (Higher Education Grants) Acts 1968 to 1992 applies, or
Taxes Consolidation Act, 1997	sec0010.html	(A) if the royalty or other sum is paid to a person who is connected with the company within the meaning of section 10 and is income from a qualifying patent within the meaning of section 234 is part of overall income from a qualifying asset within the meaning of section 769G, or
Taxes Consolidation Act, 1997	sec0010.html	(II) pays a sum (not being a sum referred to in clause (II) of subparagraph (vii)) to a person, other than to a person who is connected (within the meaning of section 10) with the company, in order for that person to carry on research and development activities, and notifies that person in writing , in advance of making the payment or on the date the payment is made, that the payment is a payment to which this clause applies and that the person may not make a claim under this section in respect of such research and development activities,
Taxes Consolidation Act, 1997	sec0237.html#part8	(II) is relieved under Part 8,
Taxes Consolidation Act, 1997	sec0268.html#part9	(ii) on machinery or plant (other than a specified intangible asset within the meaning of section 291A treated as machinery or plant by virtue of subsection (2) of that section) which qualifies for any allowance under Part 9 ~~or this Chapter~~, or
Taxes Consolidation Act, 1997	sec0268.html#part9	(1A)(a) Where expenditure is incurred by a company on machinery or plant which qualifies for any allowance under Part 9~~or this Chapter~~ and the machinery or plant will not be used by the company wholly and exclusively for the purposes of research and development, the amount of the expenditure attributable to research and development shall be such portion of that expenditure ~~as appears to the inspector (or on appeal the Appeal Commissioners) to be just and reasonable~~ as is just and reasonable, and such portion of the expenditure shall be treated for the purposes of subsection (1)(a) as incurred by the company wholly and exclusively in carrying on research and development activities.
Taxes Consolidation Act, 1997	sec0291A.html	(ii) on machinery or plant (other than a specified intangible asset within the meaning of section 291A treated as machinery or plant by virtue of subsection (2) of that section) which qualifies for any allowance under Part 9 ~~or this Chapter~~, or
Taxes Consolidation Act, 1997	sec0307.html	(I) is allowable for the purposes of tax in the State as a deduction in computing income from a trade (otherwise than by virtue of section 307), or would be so allowable but for the fact that for accounting purposes it is brought into account in determining the value of an intangible asset, or
Taxes Consolidation Act, 1997	sec0381.html#part12	(ii) sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if—
Taxes Consolidation Act, 1997	sec0410.html#part12-chap5	(ii) sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if—
Taxes Consolidation Act, 1997	sec0411.html	(II) paragraph (c) of section 411(1) were deleted;
Taxes Consolidation Act, 1997	sec0411.html	(a) both the predecessor and successor were, at the time of the event, members of the same group of companies within the meaning of section 411(1), and
Taxes Consolidation Act, 1997	sec0412.html	(ii) sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if—
Taxes Consolidation Act, 1997	sec0418.html	(ii) sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if—
Taxes Consolidation Act, 1997	sec0472D.html	“key employee” has the meaning ascribed to it by section 472D;
Taxes Consolidation Act, 1997	sec0473A.html	(II) operates in accordance with a code of standards which from time to time may, with the consent of the Minister for Finance, be laid down by the Minister for Education and Science, and which the Minister for Education and Science approves for the purposes of section 473A;
Taxes Consolidation Act, 1997	sec0764.html	(iii) which qualifies for an allowance under section 764,
Taxes Consolidation Act, 1997	sec0766A.html	(i) paid by the Revenue Commissioners in accordance with subsection (4B) of this section or section 766A(4B), as the case may be, or
Taxes Consolidation Act, 1997	sec0766A.html	(4C) Where a company (in this section and section 766A referred to as the “predecessor”) which has made a claim in accordance with this section ceases to carry on a trade which includes the carrying on by it of research and development activities and another company (in this section and section 766A referred to as the “successor”) commences to carry on the trade and those research and development activities (the cessation and commencement referred to in this section and section 766A as the ‘event’) and—
Taxes Consolidation Act, 1997	sec0766A.html	(4C) Where a company (in this section and section 766A referred to as the “predecessor”) which has made a claim in accordance with this section ceases to carry on a trade which includes the carrying on by it of research and development activities and another company (in this section and section 766A referred to as the “successor”) commences to carry on the trade and those research and development activities (the cessation and commencement referred to in this section and section 766A as the ‘event’) and—
Taxes Consolidation Act, 1997	sec0766A.html	(4C) Where a company (in this section and section 766A referred to as the “predecessor”) which has made a claim in accordance with this section ceases to carry on a trade which includes the carrying on by it of research and development activities and another company (in this section and section 766A referred to as the “successor”) commences to carry on the trade and those research and development activities (the cessation and commencement referred to in this section and section 766A as the ‘event’) and—
Taxes Consolidation Act, 1997	sec0766A.html	(7)(a)~~The Revenue Commissioners~~ An authorised officer may in relation to a claim by a company under this section or section 766A—
Taxes Consolidation Act, 1997	sec0766A.html	(ii) notwithstanding any obligation as to secrecy or other restriction on the disclosure of information imposed by, or under, the Tax Acts or any other statute or otherwise, but subject to paragraph (b), disclose any detail in the company’s claim under this section, or under section 766A, which they consider necessary for the purposes of such consultation.
Taxes Consolidation Act, 1997	sec0766B.html	(b) Subject to section 766B, on receipt of a claim the Revenue Commissioners shall pay any excess remaining to the company, in 3 instalments—
Taxes Consolidation Act, 1997	sec0959A.html	(i) the first instalment shall be paid by the Revenue Commissioners not earlier than the date provided for in paragraph (b) of the definition of “specified return date for the chargeable period” as defined in section~~950(1)~~ 959A, for the accounting period in which the expenditure on research and development was incurred and shall equal 33 per cent of the excess remaining,
Taxes Consolidation Act, 1997	sec0959A.html	(i) the first instalment shall be paid by the Revenue Commissioners not earlier than the date provided for in paragraph (b) of the definition of “specified return date for the chargeable period” as defined in section~~950(1)~~ 959A, for the accounting period in which the expenditure on research and development was incurred and shall equal 33 per cent of the excess remaining,
Taxes Consolidation Act, 1997	sec0960H.html	(c) A company may not make a claim under this subsection where, at the time of making such a claim the company has a liability (within the meaning of section 960H) in respect of the corporation tax of the accounting period referred to in subsection (2) or a previous accounting period.
Taxes Consolidation Act, 1997	sec0960H.html	(7B) (a) Any amount payable by the Revenue Commissioners to the company or another company by virtue of subsection (4B) shall be deemed to be an overpayment of corporation tax, for the purposes only of section 960H(2).
Taxes Consolidation Act, 1997	sec1080.html	(d) Where in accordance with paragraph (c) ~~an inspector makes an assessment~~ an assessment is made in respect of a specified amount, the amount so charged shall for the purposes of section 1080 be deemed to be tax due and payable and shall carry interest as determined in accordance with subsection (2)(c) of section 1080 as if a reference to the date when the tax became due and payable were a reference to the date the amount was paid by the Revenue Commissioners, or a reference to the date the corporation tax of the company for the accounting period in respect of which the amount was surrendered, was payable, as the case may be.
Taxes Consolidation Act, 1997	sec1080.html	(d) Where in accordance with paragraph (c) ~~an inspector makes an assessment~~ an assessment is made in respect of a specified amount, the amount so charged shall for the purposes of section 1080 be deemed to be tax due and payable and shall carry interest as determined in accordance with subsection (2)(c) of section 1080 as if a reference to the date when the tax became due and payable were a reference to the date the amount was paid by the Revenue Commissioners, or a reference to the date the corporation tax of the company for the accounting period in respect of which the amount was surrendered, was payable, as the case may be.
Links to Section 766 (from within TaxSource Total)
Act	Linked from	Context
	sec0038.html	(a) in section 766—
Taxes Consolidation Act, 1997	sec0141.html	“research and development activities” has the meaning that it would have in section 766 if section 33 of the Finance Act 2004 had not been enacted.
Taxes Consolidation Act, 1997	sec0472D.html	(iii) in the accounting period for which his or her employer was entitled to claim relief under section 766(2), performed ~~75 per cent~~ 50 per cent or more of the duties of his or her employment in the conception or creation of new knowledge, products, processes, methods or systems,
Taxes Consolidation Act, 1997	sec0472D.html	(b) ~~75 per cent~~ 50 per cent or more of the cost of ~~the emoluments~~ whose emoluments that arise from his or her employment with that relevant employer qualify as expenditure on research and development under section 766(1)(a) in the accounting period referred to in paragraph (a)(iii);
Taxes Consolidation Act, 1997	sec0472D.html	“relevant employer” means a company that is entitled to relief under section 766(2) and that employs a key employee;
Taxes Consolidation Act, 1997	sec0472D.html	(2)(a) Where, as respects an accounting period, a relevant employer surrenders an amount under section 766(2A) for the benefit of a key employee, then subject to subsection (3), on the making of a claim, that employee shall be entitled for a tax year to have the income tax charged on his or her relevant emoluments for that tax year reduced by the amount surrendered.
Taxes Consolidation Act, 1997	sec0472D.html	(3) (a) Notwithstanding subsection (2), the amount surrendered under section 766(2A) shall not for any tax year reduce the amount of income tax payable on the total income of ~~a key employee including~~ the employee concerned or, where section 1017 or 1019~~apply~~ applies, on the total income of his or her spouse or his or her civil partner to not less than the income tax that would be charged if such total income were charged to income tax at a rate of 23 per cent.
Taxes Consolidation Act, 1997	sec0472D.html	(4) (a) Where, by virtue of subsection (3), part of the amount surrendered under section 766(2A) by a relevant employer to a key employee cannot be used by that employee to reduce the income tax charged on his or her ~~relevant emoluments~~ emoluments from that employer for the tax year referred to in subsection (2)(b), that employee shall be entitled to have the income tax charged on his or her ~~relevant emoluments~~ emoluments from that employer for the next tax year reduced by that part.
Taxes Consolidation Act, 1997	sec0472D.html	(b) If and so far as any part of the amount surrendered by a relevant employer under section 766(2A) to a key employee carried forward under paragraph (a) to the next tax year cannot be used in that next tax year, then it may be used in the next following tax year and so on for each succeeding tax year until the full amount of that part has been used or until the key employee referred to in paragraph (a) ceases to be an employee of the relevant employer that surrendered the amount under section 766(2A).
Taxes Consolidation Act, 1997	sec0472D.html	(b) If and so far as any part of the amount surrendered by a relevant employer under section 766(2A) to a key employee carried forward under paragraph (a) to the next tax year cannot be used in that next tax year, then it may be used in the next following tax year and so on for each succeeding tax year until the full amount of that part has been used or until the key employee referred to in paragraph (a) ceases to be an employee of the relevant employer that surrendered the amount under section 766(2A).
Taxes Consolidation Act, 1997	sec0472D.html	(5) The amount that a relevant employer is entitled to surrender, and so surrenders, under section 766(2A) to a key employee is exempt from income tax and shall not be reckoned in computing income for the purposes of the Income Tax Acts.
Taxes Consolidation Act, 1997	sec0488.html	‘“R&D+I’” means research and development activities (within the meaning of section 766) and innovation.
Taxes Consolidation Act, 1997	sec0766A.html	“qualified company”, “relevant member State” and “research and development activities” have the same meanings as in section 766;
Taxes Consolidation Act, 1997	sec0766A.html	(III) any expenditure on research and development within the meaning of section 766;
Taxes Consolidation Act, 1997	sec0766A.html	(iv) paragraphs (i) to (iii) of section 766(1)(b) shall apply.
Taxes Consolidation Act, 1997	sec0766A.html	(3A) Where an event referred to in section 766(4C) occurs and—
Taxes Consolidation Act, 1997	sec0766B.html	766B Limitation of tax credits to be paid under section 766 or 766A.
Taxes Consolidation Act, 1997	sec0766B.html	(3) Where in respect of expenditure in an accounting period a company makes a claim under section 766(4B) or 766A(4B), then the aggregate amount payable by the Revenue Commissioners to that company under those sections shall not exceed the greater of—
Taxes Consolidation Act, 1997	sec0766B.html	(a) the aggregate of the corporation tax paid by the company in respect of accounting periods ending in the 10 years immediately preceding the time specified in subsection (4A)(b) of section 766, in relation to the accounting period in which the expenditure was incurred, as reduced by any amounts payable to the company in respect of claims made under section 766(4B) or 766A(4B), as the case may be, in respect of expenditure in a previous accounting period, or
Taxes Consolidation Act, 1997	sec0766B.html	(a) the aggregate of the corporation tax paid by the company in respect of accounting periods ending in the 10 years immediately preceding the time specified in subsection (4A)(b) of section 766, in relation to the accounting period in which the expenditure was incurred, as reduced by any amounts payable to the company in respect of claims made under section 766(4B) or 766A(4B), as the case may be, in respect of expenditure in a previous accounting period, or
Taxes Consolidation Act, 1997	sec0766B.html	(i) the amount by which the aggregate of any amounts payable to the company in respect of claims made under section 766(4B) or 766A(4B), as the case may be, in respect of expenditure incurred in a previous accounting period, exceeds the payroll liabilities in respect of the period—
Taxes Consolidation Act, 1997	sec0766C.html	“relevant micro or small sized company” and “expenditure on research and development” have the same meaning as they have in section 766;
Taxes Consolidation Act, 1997	sec0766C.html	(3)(a) In applying this subsection, the definition in section 766(1)(a) of “expenditure on research and development” shall apply as if references to amounts being allowable for tax purposes were references to amounts which would be allowable for tax purposes, if the company had commenced to trade.
Taxes Consolidation Act, 1997	sec0766C.html	(b) Notwithstanding subsection (1)(b)(vi) of section 766, a company to which this section applies may make a claim under subsection (2) of that section in an accounting period prior to commencing to trade, but, subject to subsection (7) of this section, no claim under subsection (2A) or (4B) of the said section 766 may be made in respect of expenditure referred to in paragraph (a).
Taxes Consolidation Act, 1997	sec0766C.html	(b) Notwithstanding subsection (1)(b)(vi) of section 766, a company to which this section applies may make a claim under subsection (2) of that section in an accounting period prior to commencing to trade, but, subject to subsection (7) of this section, no claim under subsection (2A) or (4B) of the said section 766 may be made in respect of expenditure referred to in paragraph (a).
Taxes Consolidation Act, 1997	sec0766C.html	(7) Where a company has made a claim under this section and subsequently begins to trade, the expenditure calculated for the purposes of section 766(1)(b)(vi)(I) shall be determined by the formula—
Taxes Consolidation Act, 1997	sec0766C.html	A is equal to the total expenditure calculated for the purposes of section 766(1)(b)(vi)(I), and
Taxes Consolidation Act, 1997	sec0769G.html	“Member State” has the same meaning as ‘relevant Member State’ has in section 766;
Taxes Consolidation Act, 1997	sec0769G.html	“research and development activities” has the meaning assigned to it in section 766;

Link Report

766B Limitation of tax credits to be paid under section 766 or 766A.