TAXES CONSOLIDATION ACT, 1997

1.—BY OR FOR EVERY PERSON CARRYING ON ANY TRADE OR EXERCISING ANY PROFESSION TO BE CHARGED UNDER SCHEDULE D.

The amount of the profits or gains thereof arising within the year of assessment.

2.—BY EVERY PERSON ENTITLED TO PROFITS OF AN UNCERTAIN VALUE NOT BEFORE STATED, OR ANY INTEREST, ANNUITY, ANNUAL PAYMENT, DISCOUNT OR DIVIDEND, TO BE CHARGED UNDER SCHEDULE D.

The full amount of the profits or gains arising therefrom within the year of assessment.

3.—BY EVERY PERSON ENTITLED TO OR RECEIVING INCOME FROM SECURITIES OR POSSESSIONS OUT OF THE STATE TO BE CHARGED UNDER SCHEDULE D.

• (1) The full amount arising within the year of assessment, and the amount of every deduction or allowance claimed in respect thereof, together with the particulars of such deduction and the grounds for claiming such allowance; or

• (2) In the case of any such person who satisfies the Revenue Commissioners that he or she is not domiciled in the State, or that being a citizen of Ireland he or she is not ordinarily resident in the State, or in the case of income arising from such securities and possessions aforesaid which form part of the investments of the foreign life assurance fund of an assurance company the full amount of the actual sums received in the State from remittances payable in the State or from property imported, or from money or value arising from property not imported, or from money or value so received on credit or on account in respect of such remittances, property, money or value brought into the State in the year of assessment without any deduction or abatement.

4.—BY EVERY PERSON ENTITLED TO ANY ANNUAL PROFITS OR GAINS NOT FALLING UNDER ANY OF THE FOREGOING RULES, AND NOT CHARGED BY ANY OF THE OTHER SCHEDULES, TO BE CHARGED UNDER SCHEDULE D.

The full amount thereof received annually, or according to the average directed to be taken by the inspector on a statement of the nature of such profits or gains and the grounds on which the amount has been computed, and the average taken, to the best of the knowledge and belief of such person.

5.—STATEMENT OF PROFITS OF ANY PUBLIC OFFICE, OR EMPLOYMENT OF PROFIT, TO BE CHARGED UNDER SCHEDULE E.

The amount of the salary, fees, wages, perquisites and profits of the year of assessment.

6.—GENERAL DECLARATION BY EACH PERSON RETURNING A STATEMENT OF PROFITS OR GAINS TO BE CHARGED UNDER SCHEDULES D OR E

Declaring the truth thereof, and that the same is fully stated on every description of property, or profits or gains, included in the Act relating to the said tax, and appertaining to such person, estimated to the best of such person's judgment and belief, according to the provisions of the Income Tax Acts.

7.—LISTS AND DECLARATIONS FOR FACILITATING THE EXECUTION OF THE INCOME TAX ACTS IN RELATION TO THE TAX CHARGEABLE ON OTHERS.

First. List containing the name and place of residence of every person in any service or employ, and the payments made to every such person in respect of the service or employment.

Second. List to be delivered by every person chargeable on behalf of another person, and by any person whomsoever who, in whatever capacity, is in receipt of any money or value, or of profits or gains, of or belonging to any other person, describing that other person for whom the person acts, and stating that other person's name and address, and the amount of such money, value, profit or gains, and declaring whether that other person is of full age, or a married woman living with her husband, or a married woman whose husband is not accountable for the payment of tax charged on her, or is resident in the State, or is an incapacitated person. The person delivering such list shall also deliver a list containing the names and addresses of any other person or persons acting jointly with such person.

Third. Declaration on whom the tax is chargeable in respect of any such money, value, profits or gains.

Fourth. List containing the proper description of every body of persons, or trust for which any person is answerable under the Income Tax Acts and where any such person is answerable under the Income Tax Acts for the tax to be charged in respect of the property or profits or gains of other persons, that person shall deliver such lists as aforesaid, together with the required statements of such profits or gains.

8.—LISTS, DECLARATIONS, AND STATEMENTS TO BE DELIVERED IN ORDER TO OBTAIN ANY ALLOWANCE OR DEDUCTION.

First. Declaration of the amount of value of property or profits or gains returned, or for which the claimant has been, or is liable to be, assessed.

Second. Declaration of the amount of rents, interests, annuities, or other annual payments, in respect of which the claimant is liable to allow the tax, with the names of the respective persons by whom such payments are to be made, distinguishing the amount of each payment.

Third. Declaration of the amount of interest, annuities, or other annual payments to be made out of the property or profits or gains assessed on the claimant, distinguishing each source.

Fourth. Statement of the amount of income derived according to the 3 preceding declarations.

Fifth. Statement of any tax which the claimant may be entitled to deduct, retain or charge against any other person.

SCHEDULE 29 Provisions Referred to in Sections 1052, 1053 and 1054

[ITA67 Sch15; F(MP) A68 s5(2); FA72 s13(4) and Sch1 PtIII par3; FA73 s33(7) and Sch 3 par2 and s39 and Sch5 par10; FA74 s59(6) and s73(5); FA75 s22(2) and Sch2 PtII; FA76 s11(4); FA81 s29(4); FA82 s4(8), s5(2)(b) and s51(8); FA83 s20(5), s21(3), and s22(3); FA84 s24(9) and s29(6); FA85 s19(4); FA86 s9(11) (b) and s40(1); FA88 s10(12) and s73(7)(a); FA89 s18(5)(b), 19(4) and Sch 1 par3(1); FA91 s68(4); FA92 s226(7); WCTIPA93 s12; FA95 s7(9)(b) and s236(7); FA97 s13(2)]

Column 1	Column 2	Column 3
section 121 section 473 or Regulations under that section section 477 section 531 and Regulations under that section section 877 section 878 section 879(2) section 880 section 951(1) and (2) paragraphs (a) (iii) (I) and (c) of subsection (2) and paragraphs (a) (i) and (b) (i) of subsection (4) of section 1002 section 1023 Waiver of Certain Tax, Interest and Penalties Act, 1993, sections 2(3) (a) and 3(6) (b)	section 128(11) section 183 section 258(2) section 505(3) and (4) section 510(7) section 645 section 804(4) section 808 section 812(4) section 815 section 881 section 888 section 890 section 891 section 892 section 893(2) section 894(3) section 897 section 898 section 900 section 909 section 935 section 947 Schedule 1, paragraph 1 Schedule 9, paragraph 8 Schedule 18, paragraph 1(2) Schedule 23, paragraph 2,3(2) (b) and 3(3)	section 123(6) section 238(3) section 257(1) section 505(1) and (2) section 531 and Regulations under that section section 734(5) section 876 section 885 section 893(3) section 904 section 972 Schedule 2, paragraph 14 Schedule 23, paragraph 3(2) (a) Waiver of Certain Tax, Interest and Penalties Act, 1993, sections 2(3) (a) and 3(6) (b)

SCHEDULE 30 Repeals

Number and year	Short title	Extent of repeal
(1)	(2)	(3)
No. 11 of 1928.	Finance Act, 1928.	Section 34(2)
No. 6 of 1967.	Income Tax Act, 1967.	The whole Act, in so far as it is unrepealed
No. 7 of 1967.	Income Tax (Amendment) Act, 1967.	The whole Act, in so far as it is unrepealed.
No. 17 of 1967.	Finance Act, 1967.	Part I, in so far as it is unrepealed. Section 25, in so far as it relates to income tax. Section 27(2) and (6) Third Schedule, Part I, in so far as it relates to income tax.
No. 7 of 1968.	Finance (Miscellaneous Provisions) Act, 1968.	Parts I and IV, in so far as they are unrepealed. Sections 25 to 27. Section 29(2) Schedule, Parts I to IV.
No. 33 of 1968.	Finance Act, 1968.	Part I, in so far as it is unrepealed. Sections 37 to 39. Section 48(2) and (5).
No. 37 of 1968.	Finance (No. 2) Act, 1968.	Sections 8 and 11(4), in so far as they are unrepealed.
No. 21 of 1969.	Finance Act, 1969.	Parts I and II, in so far as they are unrepealed. Section 63, in so far as it is unrepealed. Sections 64 and 65(1). Section 67(2) and (7). Fourth Schedule, Part I. Fifth Schedule, Part I.
No. 14 of 1970.	Finance Act, 1970.	Part I, in so far as it is unrepealed. Sections 57 to 59. Section 62(2) and (7).
No. 25 of 1970.	Finance (No. 2) Act, 1970.	Section 1. Section 8(2) and (5).
No. 23 of 1971.	Finance Act, 1971.	Part I, in so far as it is unrepealed. Section 55(2) and (6).
No. 19 of 1972.	Finance Act, 1972.	Part I, in so far as it is unrepealed. Section 42. Section 43, in so far as it is unrepealed. Section 46, in so far as it relates to income tax. Section 48(2) and (5). First Schedule, in so far as it is unrepealed. Third Schedule, in so far as it relates to income tax. Fourth Schedule, in so far as it relates to income tax.
No. 19 of 1973.	Finance Act, 1973.	Part I, in so far as it is unrepealed. Section 92, except in so far as it relates to death duties and stamp duty. Section 98(2) and (6). Third Schedule. Fifth Schedule.
No. 17 of 1974.	Finance (Taxation of Profits of Certain Mines) Act, 1974.	The whole Act, in so far as it is unrepealed.
No. 27 of 1974.	Finance Act, 1974.	Part I, in so far as it is unrepealed. Section 86. Section 88(2) and (5). First Schedule. Second Schedule.
No. 6 of 1975.	Finance Act, 1975.	Part I, in so far as it is unrepealed. Section 57(2) and (5). First Schedule. Second Schedule.
No. 19 of 1975.	Finance (No. 2) Act, 1975.	Sections 1 and 4(2).
No. 20 of 1975.	Capital Gains Tax Act, 1975.	The whole Act, in so far as it is unrepealed.
No. 7 of 1976.	Corporation Tax Act, 1976.	The whole Act, in so far as it is unrepealed.
No. 16 of 1976.	Finance Act, 1976.	Part I, in so far as it is unrepealed. Section 81(1) and (3) (a). First Schedule. Second Schedule.
No. 18 of 1977.	Finance Act, 1977.	Part I, in so far as it is unrepealed. Section 53. Section 54, in so far as it relates to income tax, corporation tax and capital gains tax. Section 56(2) and (7) First Schedule. Second Schedule, in so far as it relates to income tax, corporation tax and capital gains tax.
No. 21 of 1978.	Finance Act, 1978.	Part I, in so far as it is unrepealed. Section 46, in so far as it relates to income tax, corporation tax and capital gains tax. Sections 47, 52(1) and 54(2) and (8). First Schedule. Second Schedule. Fourth Schedule, Part I.
No. 33 of 1978.	Capital Gains Tax (Amendment) Act, 1978.	The whole Act, in so far as it is unrepealed.
No. 11 of 1979.	Finance Act, 1979.	Part I, in so far as it is unrepealed. Section 59(2) and (6). First Schedule. Second Schedule.
No. 14 of 1980.	Finance Act, 1980.	Part I, in so far as it is unrepealed. Sections 89 and 96(2) and (7). First Schedule.
No. 16 of 1981.	Finance Act, 1981.	Part I, in so far as it is unrepealed. Sections 52 and 54(2) and (7). First Schedule.
No. 14 of 1982.	Finance Act, 1982.	Part I, in so far as it is unrepealed. Sections 105(2) and (7). First Schedule. Second Schedule. Third Schedule.
No. 15 of 1983.	Finance Act, 1983.	Part I, in so far as it is unrepealed. Part V. Section 120, in so far as it relates to income tax, corporation tax and capital gains tax. Section 122(2) and (6). Fourth Schedule, in so far as it relates to income tax, corporation tax and capital gains tax.
No. 9 of 1984.	Finance Act, 1984.	Part I, in so far as it is unrepealed. Section 116(2) and (7). First Schedule. Second Schedule.
No. 10 of 1985.	Finance Act, 1985.	Part I. Sections 69 and 71(2) and (7). First Schedule.
No. 13 of 1986.	Finance Act, 1986.	Part I, in so far as it is unrepealed. Sections 112 to 116. Sections 118(2), (7) (in so far as it relates to income tax, corporation tax and capital gains tax) and (8). First Schedule. Second Schedule. Third Schedule. Fourth Schedule.
No. 34 of 1986.	Income Tax (Amendment) Act, 1986.	The whole Act.
No. 10 of 1987.	Finance Act, 1987.	Part I. Sections 52 and 55(2) and (7).
No. 12 of 1988.	Finance Act, 1988.	Part I, in so far as it is unrepealed. Sections 70 to 74. Sections 77(2), (7) (except in so far as it relates to the Local Loans Fund) and (8). First Schedule. Second Schedule. Third Schedule.
No. 6 of 1989.	Judicial Separation and Family Law Reform Act, 1989.	Section 26.
No. 10 of 1989.	Finance Act, 1989.	Part I, in so far as it is unrepealed. Sections 86 to 89. Sections 95, 98 and 100(2), (7) (except in so far as it relates to capital acquisitions tax) and (8). First Schedule.
No. 10 of 1990.	Finance Act, 1990.	Part I. Sections 131, 136, 137, 138 and 140(2) and (8). First Schedule. Second Schedule. Third Schedule. Fourth Schedule. Fifth Schedule. Sixth Schedule.
No. 13 of 1991.	Finance Act, 1991.	Part I, in so far as it is unrepealed. Sections 126, 128, 130 and 132(2) and (8). First Schedule. Second Schedule.
No. 3 of 1992.	Oireachtas (Allowances to Members) and inisterial and Parliamentary Offices Act, 1992.	Section 4.
No. 9 of 1992.	Finance Act, 1992.	Part I, in so far as it is unrepealed Part VII, except section 248 in so far as it relates to residential property tax. Section 254(2), (8) (except in so far as it relates to residential property tax) and (9). First Schedule. Second Schedule.
No. 28 of 1992.	Finance (No. 2) Act, 1992.	Part I. Section 30(2).
No. 13 of 1993.	Finance Act, 1993.	Part I, in so far as it is unrepealed. Sections 140 and 143(2) and (8). First Schedule.
No. 24 of 1993.	Waiver of Certain Tax, Interest and Penalties Act, 1993.	Sections 10 to 13.
No. 13 of 1994.	Finance Act, 1994.	Part I, in so far as it is unrepealed. Part VII, Chapter I. Section 161, except in so far as it relates to stamp duty. Sections 162, 163(2), 164 and 166(2) and (8). First Schedule. Second Schedule.
No. 8 of 1995.	Finance Act, 1995.	Part I, in so far as it is unrepealed. Part VII, Chapter I. Sections 172 to 177. Section 179(2), (8) and (9). First Schedule. Second Schedule. Third Schedule. Fourth Schedule.
No. 26 of 1995.	Family Law Act, 1995.	Section 37.
No. 9 of 1996.	Finance Act, 1996.	Part I, in so far as it is unrepealed. Part VI. Sections 139 and 143(2), (7) and (8). First Schedule. Fifth Schedule.
No. 25 of 1996.	Disclosure of Certain Information for Taxation and Other Purposes Act, 1996.	Sections 5, 6, 10, 11 and 12.
No. 31 of 1996.	Criminal Assets Bureau Act, 1996.	Sections 23 and 24(1) and (2).
No. 33 of 1996.	Family Law (Divorce) Act, 1996.	Section 31.
No. 22 of 1997.	Finance Act, 1997.	Parts I and VII. Sections 157, 158, 159, 160(1) and 166(2), (8) and (9). First Schedule. Second Schedule. Third Schedule. Fourth Schedule. Fifth Schedule. Sixth Schedule. Ninth Schedule. Tenth Schedule.

SCHEDULE 31 Consequential Amendments

In the enactments specified in Column (1) of the following Table for the words set out or referred to in Column (2) there shall be substituted the words set out in the corresponding entry in Column (3).

Enactment amended	Words to be replaced	Words to be substituted
(1)	(2)	(3)
The Stamp Act, 1891:
section 13(1), in the definition of “Appeal Commissioners”	section 156 of the Income Tax Act, 1967	section 850 of the Taxes Consolidation Act, 1997
section 13(4)	Part XXVI (Appeals) of the Income Tax Act, 1967	Chapter 1 of Part 40 (Appeals) of the Taxes Consolidation Act, 1997
The Finance (1909-10) Act, 1910:
section 49, in the first proviso to subsection (1)	section 242 of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 49, in the second proviso to subsection (1)	section 242 (as amended by the Finance Act, 1993) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 49, in paragraph (a) of subsection (1A)	section 242 of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
	subsection (6) of the said section 242	subsection (7) of that section
The Betting Act, 1931, the proviso to section 7 (3)	section 242 (as amended) by the Finance Act, 1993) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
The Auctioneers and House Agents Act, 1947:
section 8, in the proviso to subsection (1)	section 242 (as amended by the Finance Act, 1993) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 9, in the proviso to subsection (1)	section 242 (as amended by the Finance Act, 1993) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 10, in the proviso to subsection (1)	section 242 (as amended by the Finance Act, 1993) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
The Finance Act, 1952, section 19(2)	section 156 of the Corporation Tax Act, 1976	section 9 of the Taxes Consolidation Act, 1997
The Gaming and Lotteries Act, 1956, the proviso to section 19	section 242 (as amended by the Finance Act, 1993) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
The Civil Service Commissioners Act, 1956, section 27(3)	section 156(1) of the Income Tax Act, 1967	section 850(1) of the Taxes Consolidation Act, 1997
The Income Tax (Purchased Life Annuities) Regulations, 1959 (S.I. No. 152 of 1959):
Regulation 2, in the definition of “the principal section”	section 22 of the Finance Act, 1959	section 788 of the Taxes Consolidation Act, 1997
Regulation 5	subsection (3)	subsection (5)
	subsection (4)	subsection (6)
Regulation 7	Subsection (3) of section 5 of the Finance Act, 1929 (No. 32 of 1929), as amended by section 3 of the Finance Act, 1958 (No. 25 of 1958)	Subsection (3) of section 933 of the Taxes Consolidation Act, 1997
Regulation 9	Sections 149 and 196 of the Income Tax Act, 1918	Sections 941 and 942 of the Taxes Consolidation Act, 1997
Regulation 17	Rule 17 of the General Rules	Section 1023 of the Taxes Consolidation Act, 1997
The Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960):
Regulation 2, in paragraph (1)	“the Act” means the Finance (No. 2) Act, 1959 (No. 42 of 1959)	“the Act” means the Taxes Consolidation Act, 1997
Regulation 2, paragraph (1), in the definition of “emoluments”	Part II of the Act	Chapter 4 of Part 42 of the Act
Regulation 36, in paragraph (2)	Section 7 of the Finance Act, 1923 (No. 21 of 1923), as applied by section 11 of the Act	Section 962 of the Act, as applied by section 993 of the Act
Regulation 36, in paragraph (3)	Section 11 of the Finance Act, 1924 (No. 27 of 1924), as applied by section 11 of the Act	Section 963 of the Act, as applied by section 993 of the Act
Regulation 59	section 222 or 223 of the Income Tax Act, 1967 (No. 6 of 1967) or by virtue of section 16, 17 or 25 of the Finance Act, 1972 (No. 19 of 1972)	section 774 or 776 of the Act
Regulation 60	Chapter IV of Part V of the Income Tax Act, 1967	Chapter 4 of Part 42 of the Act
The Income Tax (Construction Contracts) Regulations, 1971 (S.I. No. 1 of 1971):
Regulation 2, in the definition of “certified subcontractor”	subsection (9) (a) of the principal section	subsection (13) (a) of section 531 of the Act
Regulation 2, in the definition of “principal”	the principal section	section 530 of the Act
	subsection (2) of that section	section 531 of the Act
Regulation 2	“principal section” means section 17 (inserted by the Finance Act, 1976 (No. 16 of 1976)) of the Finance Act, 1970 (No. 14 of 1970);	“the Act” means the Taxes Consolidation Act, 1997;
Regulation 2, in the definition of “relevant contract”	the principal section	section 530 of the Act
Regulation 2, in the definition of “repayment period”	subsection (4) of the principal section	subsection (5) of section 531 of the Act
Regulation 2, in the definition of “sub-contractor”	subsection (2) of the principal section	subsection (1) of section 531 of the Act
Regulation 2, in the definition of “sub-contractor's certificate”	subsection (7) of the principal section	subsection (11) of section 531 of the Act
Regulation 4	subsection (8)(a) of the principal section	subsection (12)(a) of section 531 of the Act
Regulation 4A, in paragraph (1)	subsection (8)(a) of the principal section	subsection (12)(a) of section 531 of the Act
Regulation 4A, in paragraph (2) (c)	section 103(5) of the Corporation Tax Act, 1976	section 433(4) of the Act
	subsection (1) of the principal section	subsection (1) of section 530 of the Act
Regulation 4B, in paragraph (4)	subsection (8)(a) of the principal section	subsection (12)(a) of section 531 of the Act
Regulation 4C, in paragraph (2) (a) (ii)	subsection (7) of the principal section	subsection (11) of section 531 of the Act
Regulation 4C, in paragraph (2) (b)	subsection (5)(a) (i) of the principal section	subsection (6)(a) (i) of section 531 of the Act
Regulation 4C, in paragraph (2) (c)	the principal section	section 530 of the Act
Regulation 4C, in paragraph (2) (d)	subsection (7) of the principal section	subsection (11) of section 531 of the Act
Regulation 6, in paragraph (3)	subsection (8) of the principal section	subsection (12) of section 531 of the Act
Regulation 8, in paragraph (1)	subsection (2) of the principal section	subsection (1) of section 531 of the Act
Regulation 10, in paragraph (1)	the principal section	section 531 of the Act
Regulation 11, in paragraph (1)	the principal section	section 531 of the Act
	sections 480, 485, 486, 488 and 491 of the Income Tax Act, 1967	sections 962, 963, 966 and 998 of the Act
Regulation 12, in paragraph (1)	the principal section	section 531 of the Act
Regulation 13, in paragraph (1)	subsection (2) of the principal section	subsection (1) of section 531 of the Act
Regulation 13, in paragraph (3)	subsection (4) (c) (ii) of the principal section	subsection (5) (c) (ii) of section 531 of the Act
Regulation 14	Chapter IV of Part V of the Income Tax Act, 1967	Chapter 4 of Part 42 of the Act
Regulation 19, in paragraph (1)	subsection (8)(a) of the principal section	subsection (12)(a) of section 531 of the Act
Regulation 20	subsection (9) (a) of the principal section	subsection (13) (a) of section 531 of the Act
	the said subsection (9) (a)	subsection (13) (a) of section 531 of the Act
Regulation 21, in paragraph (3)	Chapter III of Part IV of the Income Tax Act, 1967 (No. 6 of 1967)	Part 43 of the Act
The Finance Act, 1969, section 49(2B) (c)	section 94 of the Finance Act, 1983	section 1078 of the Taxes Consolidation Act, 1997
The Value-Added Tax Act, 1972:
section 1, in the definition of “Appeal Commissioners”	section 156 of the Income Tax Act, 1967	section 850 of the Taxes Consolidation Act, 1997
section 1, in the definition of “Collector-General”	section 162 of the Income Tax Act, 1967	section 851 of the Taxes Consolidation Act, 1997
section 1, in the definition of “inspector of taxes”	section 161 of the Income Tax Act, 1967	section 852 of the Taxes Consolidation Act, 1997
section 1, in the definition of “secretary”	section 207(2) of the Income Tax Act, 1967	section 1044(2) of the Taxes Consolidation Act, 1997
section 1(2) (bb)	section 73 of the Finance Act, 1988	section 1002 of the Taxes Consolidation Act, 1997
section 1(2) (c)(i)	Chapter III of Part I of the Finance Act, 1987	Chapter 1 of Part 18 of the Taxes Consolidation Act, 1997
section 1(2) (c) (ii)	section 17 of the Finance Act, 1970	Chapter 2 of Part 18 of the Taxes Consolidation Act, 1997
section 18(1) (a) (iia)	section 94 (as amended by section 243 of the Finance Act, 1992) of the Finance Act, 1983	section 1078 of the Taxes Consolidation Act, 1997
section 24(1) (b)	sections 480, 485, 486, 487, 488 and 491 of the Income Tax Act, 1967	sections 962, 963, 964(1), 966, 967 and 998 of the Taxes Consolidation Act, 1997
section 24(5)	under section 485 of the Income Tax Act, 1967	under section 962 of the Taxes Consolidation Act, 1997
	section 485	section 962
section 27(11)	section 94 (as amended by section 243 of the Finance Act, 1992) of the Finance Act, 1983	section 1078 of the Taxes Consolidation Act, 1997
section 31	section 512 of the Income Tax Act, 1967	section 1065 of the Taxes Consolidation Act, 1997
First Schedule, in paragraph (i) (g)	section 18 of the Finance Act, 1989	section 734 of the Taxes Consolidation Act, 1997
The Imposition of Duties (No. 21) (Excise Duties) Order, 1975 (S.I. No. 307 of 1975), the proviso to paragraph 12 (12)	section 242 (as amended by the Finance Act, 1993) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
The Capital Acquisitions Tax Act, 1976:
section 16(2), in the definition of “private company”	section 95 of the Corporation Tax Act, 1976	section 431 of the Taxes Consolidation Act, 1997
	subsection (1)	subsection (3)
	subsection (4)	subsection (6)
section 52(1), in the definition of “Appeal Commissioners”	section 156 of the Income Tax Act, 1967	section 850 of the Taxes Consolidation Act, 1997
section 58(2) (b)	section 142 of the Income Tax Act, 1967	section 466 of the Taxes Consolidation Act, 1997
section 63(9)	sections 128(4), 507, 508, 510, 511, 512, 517 and 518 of the Income Tax Act, 1967	sections 987(4), 1061, 1062, 1063, 1064, 1065, 1066 and 1068 of the Taxes Consolidation Act, 1997
Second Schedule, Part I, paragraph 9, in the definition of “investment income”	section 2 of the Income Tax Act, 1967	section 3 of the Taxes Consolidation Act, 1997
The Value-Added Tax Regulations, 1979 (S.I. No. 63 of 1979):
Regulation 15, in paragraph (2)	Section 485 of the Income Tax Act, 1967	Section 962 of the Taxes Consolidation Act, 1997
	the words from “modifications in subsection (1)” to the end of the paragraph	modification in subsection (1), namely, the words “any sum which may be levied on that person in respect of income tax” shall be construed as referring to value-added tax payable by the person concerned
Regulation 15, in paragraph (3)	Section 486 of the Income Tax Act, 1967	Section 963 of the Taxes Consolidation Act, 1997
Regulation 15, in paragraph (3) (a)	income tax or sur-tax	income tax
Regulation 15, in paragraph (3) (b)	the Collector or other officer of the Revenue Commissioners, duly authorised to collect the said tax	the Collector-General or other officer of the Revenue Commissioners duly authorised to collect the tax
	the Collector or other officer under this section	the Collector-General or other officer under this section
Regulation 15, in paragraph (4)	Section 487 of the Income Tax Act, 1967	Section 964(1) of the Taxes Consolidation Act, 1997
Regulation 15, in paragraph (5)	Section 488 of the Income Tax Act, 1967	Section 966 of the Taxes Consolidation Act, 1997
Regulation 15, in paragraph (5) (a)	income tax or sur-tax	income tax
Regulation 15, in paragraph (5) (b)	references to an inspector and to the Collector	references to an inspector and to the Collector-General
Regulation 15, in paragraph (6)	Section 491 of the Income Tax Act, 1967	Section 998 of the Taxes Consolidation Act, 1997
	income tax or sur tax	income tax
The Health Contributions Act, 1979:
section 1, in the definition of “the Collector-General”	section 162 of the Income Tax Act, 1967	section 851 of the Taxes Consolidation Act, 1997
section 1, in the definition of “emoluments”	Chapter IV of Part V of the Income Tax Act, 1967, but without regard to section 192 of that Act	Chapter 4 of Part 42 of the Taxes Consolidation Act, 1997, but without regard to section 1015 of that Act
section 7A	section 3 of the Finance Act, 1983	section 1025 of the Taxes Consolidation Act, 1997
The Health Contribution Regulations, 1979 (S.I. No. 107 of 1979):
Regulation 3, in the definition of “the Collector”	section 162 of the Income Tax Act, 1967 (No. 6 of 1967)	section 851 of the Taxes Consolidation Act, 1997
Regulation 3, in the definition of “excepted farmer”	“an individual to whom section 16 applies” within the meaning of Chapter II of Part I of the Finance Act, 1974 (No. 27 of 1974), if paragraphs (b) and (d) of section 16(1), and section 16(2), of that Act did not apply	“an individual to whom subsection (1) applies” within the meaning of section 657 of the Taxes Consolidation Act, 1997, if paragraphs (b) and (d) of the definition of “an individual to whom subsection (1) applies” in subsection (1) of that section of that Act and subsection (2) of that section of that Act did not apply
Regulation 3, in the definition of “farm land occupied by the individual”	section 13(1) of the Finance Act, 1974	section 654 of the Taxes Consolidation Act, 1997
Regulation 4	Chapter IV of Part V of the Income Tax Act, 1967, applies but without regard to Chapter I of Part IX of that Act	Chapter 4 of Part 42 of the Taxes Consolidation Act, 1997, applies but without regard to sections 1015 to 1024 of that Act
Regulation 6	Chapter I (inserted by the Finance Act, 1980) (No. 14 of 1980) of Part IX of the Income Tax Act, 1967 (No. 6 of 1987)	sections 1015 to 1024 of the Taxes Consolidation Act, 1997
	section 33 of the Finance Act, 1975 (No. 6 of 1975)	the definition of “capital allowance” in section 2(1) of the Taxes Consolidation Act, 1997
The Youth Employment Agency Act, 1981:
section 1 (1), in the definition of “the Collector-General”	section 162 of the Income Tax Act, 1967	section 851 of the Taxes Consolidation Act, 1997
section 1 (1), in the definition of “emoluments”	Chapter IV of Part V of the Income Tax Act, 1967 (but without regard to Chapter I (inserted by the Finance Act, 1980) of Part IX of that Act)	Chapter 4 of Part 42 of the Taxes Consolidation Act, 1997 (but without regard to sections 1015 to 1024 of that Act)
section 18A	section 3 of the Finance Act, 1983	section 1025 of the Taxes Consolidation Act, 1997
The Youth Employment Levy Regulations 1982, (S.I. No. 84 of 1982):
Regulation 3, in the definition of “the Collector”	section 162 of the Income Tax Act, 1967 (No. 6 of 1967)	section 851 of the Taxes Consolidation Act, 1997
Regulation 3, in the definition of “excepted farmer”	an individual to whom section 16 applies within the meaning of Chapter II of Part I of the Finance Act, 1974 (No. 27 of 1974), if paragraph (b) and (d) of subsection (1) and subsection (2) of section 16 of that Act did not apply	an individual to whom subsection (1) applies within the meaning of section 657 of the Taxes Consolidation Act, 1997, if paragraphs (b) and (d) of the definition of “an individual to whom subsection (1) applies” in subsection (1) of that section of that Act and subsection (2) of that section of that Act did not apply
Regulation 3, in the definition of “farm land occupied by the individual”	section 13(1) of the Finance Act, 1974	section 654 of the Taxes Consolidation Act, 1997
Regulation 6	Chapter I (inserted by the Finance Act, 1980 (No. 14 of 1980)) of Part IX of the Income Tax Act, 1967 (No. 6 of 1967)	sections 1015 to 1024 of the Taxes Consolidation Act, 1997
	section 33 of the Finance Act, 1975 (No. 6 of 1975)	the definition of “capital allowance” in section 2(1) of the Taxes Consolidation Act, 1997
Regulation 16	section 195 of the Income Tax Act, 1967	section 1018 of the Taxes Consolidation Act, 1997
The Income Tax (Rent Relief) Regulations, 1982 (S.I. No. 318 of 1982):
Regulation 2	Chapter IV of Part IV of the Income Tax Act, 1967 (No. 6 of 1967)	Chapter 8 of Part 4 of the Taxes Consolidation Act, 1997
	section 142A (inserted by section 5 of the Finance Act, 1982 (No. 14 of 1982)) of the Income Tax Act, 1967	section 473 of the Taxes Consolidation Act, 1997
Regulation 3	subsection (5) (a) (i)	subsection (6) (a) (i)
Regulation 5	section 6 of the Finance Act, 1968 (No. 33 of 1968), and section 34 of the Finance Act, 1976 (No. 16 of 1976)	sections 886 and 905
The Finance Act, 1984, section 108(1) (b) (ii)	subsection (9) of section 235 of the Income Tax Act, 1967	subsection (1) of section 783 of the Taxes Consolidation Act, 1997
	section 235A	section 785
The Finance Act, 1986:
section 94(1) (a), in the definition of “Corporation Tax Acts”	section 155(1) of the Corporation Tax Act, 1976	section 1 of the Taxes Consolidation Act, 1997
section 94(1) (a), in the definition of “relevant interest”	section 84(2) (d) of the Corporation Tax Act, 1976	section 130(2) (d) of the Taxes Consolidation Act, 1997
The Health Contributions (Amendment) Regulations, 1988 (S.I. No. 51 of 1988), Regulation 3, in paragraph (2)	section 195 of the Income Tax Act, 1967	section 1018 of the Taxes Consolidation Act, 1997
The Finance Act, 1989, the proviso to section 45(3) (b)	section 242 (as amended by the Finance Act, 1993) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
The Finance Act, 1990:
section 112(5)	section 94 of the Finance Act, 1983	section 1078 of the Taxes Consolidation Act, 1997
section 129(1)	subsection (9) of section 235 of the Income Tax Act, 1967	subsection (1) of section 783 of the Taxes Consolidation Act, 1997
The Finance Act, 1991:
section 108(1)	section 485 of the Income Tax Act, 1967	section 962 of the Taxes Consolidation Act, 1997
section 109(1)	Sections 128(4), 507, 508, 510, 511, 512, 517 and 518 of the Income Tax Act, 1967	Sections 987(4), 1061, 1062, 1063, 1064, 1065, 1066 and 1068 of the Taxes Consolidation Act, 1997
	Income Tax Act, 1967	Taxes Consolidation Act, 1997
section 129(1), in the definition of “the Collector”	section 162 of the Income Tax Act, 1967	section 851 of the Taxes Consolidation Act, 1997
section 129(3)	Section 187 of the Income Tax Act, 1967	Section 928(1) and 964(2) of the Taxes Consolidation Act, 1997
The Finance Act, 1992:
section 206(a), (aa) and (c) (ii)	section 18 of the Finance Act, 1989	section 734 of the Taxes Consolidation Act, 1997
section 206(b)	subsection (5A) (inserted by section 34 of the Finance Act, 1977) of section 31 of the Capital Gains Tax Act, 1975	subsection (6) of section 731 of the Taxes Consolidation Act, 1997
section 207(2)	section 18 of the Finance Act, 1989	section 734 of the Taxes Consolidation Act, 1997
The Finance Act, 1993:
section 106(2) (b)	section 31 of the Finance Act, 1991	section 110 of the Taxes Consolidation Act, 1997
section 109(1), in the definition of “dependent relative”	subsection (9A) (inserted by the Finance Act, 1979) of section 25 of the Capital Gains Tax Act, 1975	subsection (11) of section 604 of the Taxes Consolidation Act, 1997
section 112(a) (i) (A)	section 235(9) of the Income Tax Act, 1967	section 783(1) of the Taxes Consolidation Act, 1997
section 112(a) (i) (B)	section 235 or section 235A	section 784 or section 785
section 112(a) (iii)	section 236 of the Income Tax Act, 1967	section 787 of the Taxes Consolidation Act, 1997
section 112(d), proviso (i)	subsection (1A) of section 142 of the Income Tax Act, 1967	subsection (1) of section 466 of the Taxes Consolidation Act, 1997
section 133(1)	section 36 of the Finance Act, 1988	section 451 of the Taxes Consolidation Act, 1997
The Social Welfare (Consolidation) Act, 1993:
section 2, in the definition of “Collector-General”	section 162 of the Income Tax Act, 1967	section 851 of the Taxes Consolidation Act, 1997
section 2, in the definition of “reckonable emoluments”	Chapter IV of Part V of the Income Tax Act, 1967	Chapter 4 of Part 42 of the Taxes Consolidation Act, 1997
section 2, in the definition of “reckonable income”	section 2 or section 18 of the Finance Act, 1969	section 195, 231 or 232 of the Taxes Consolidation Act, 1997
	Chapter 1 (inserted by the Finance Act, 1980) of Part IX of the Income Tax Act, 1967	Chapter 1 of Part 44 of the Taxes Consolidation Act, 1997
section 2, in the definition of “reckonable income”	section 33 of the Finance Act, 1975	the definition of “capital allowance” in section 2(1) of the Taxes Consolidation Act, 1997
section 18(1) (b)	section 48(1) of the Finance Act, 1986	section 1084(1) of the Taxes Consolidation Act, 1997
section 20(5)	section 195 of the Income Tax Act, 1967	section 1018 of the Taxes Consolidation Act, 1997
section 212(5)	section 17 (as amended by section 28 of the Finance Act, 1992) of the Finance Act, 1970	Chapter 2 of Part 18 of the Taxes Consolidation Act, 1997
First Schedule, Part III, paragraph 3(a)	section 33 of the Finance Act, 1975	the definition of “capital allowance” in section 2(1) of the Taxes Consolidation Act, 1997
First Schedule, Part III, paragraph 4	Chapter II or III of Part IV of the Income Tax Act, 1967	Chapter 3 of Part 4, or Part 43, of the Taxes Consolidation Act, 1997
First Schedule, Part III, paragraph 6	Chapter II or III of Part IV of the Income Tax Act, 1967	Chapter 3 of Part 4, or Part 43, of the Taxes Consolidation Act, 1997
The Industrial Training (Apprenticeship Levy) Act, 1994, section 1(1)	section 162 of the Income Tax Act, 1967	section 851 of the Taxes Consolidation Act, 1997
The Casual Trading Act, 1995, section 4(2A)	section 161 of the Income Tax Act, 1967	section 852 of the Taxes Consolidation Act, 1997
The Finance Act, 1995:
section 103	section 156 of the Income Tax Act, 1967	section 850 of the Taxes Consolidation Act, 1997
section 105(3)	Part XXVI (as amended) other than sections 429 and 430 and (in so far as it relates to those sections) Section 431, of the Income Tax Act, 1967	Part 40, other than sections 942, 943 and (in so far as it relates to those sections) 944 of the Taxes Consolidation Act, 1997
The Consumer Credit Act, 1995:
section 93(10) (d)	section 242 (as amended by the Finance Act, 1997) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 93(10A) (a) (i)	section 242 of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 93(10A) (a) (ii)	section 242	section 109
section 116(9) (d)	section 242 (as amended by the Finance Act, 1997) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 116(9A) (a) (i)	section 242 of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 116(9A) (a) (ii)	section 242	section 1094
section 144(9) (d)	section 242 (as amended by the Finance Act, 1997) of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 144(9A) (a) (i)	section 242 of the Finance Act, 1992	section 1094 of the Taxes Consolidation Act, 1997
section 144(9A) (a) (ii)	section 242	section 1094
The Finance Act, 1996, section 108(4)	section 94(2) (d) of the Finance Act, 1983	section 1078(2) (d) of the Taxes Consolidation Act, 1997
The Social Welfare (Consolidated Contributions and Insurability) Regulations, 1996 (S.I. No. 312 of 1996):
Regulation 3, in the definition of “inspector of taxes”	section 161 of the Act of 1967	section 852 of the Act of 1997
Regulation 3, in the definition of “reckonable earnings”	Chapter IV of Part V of the Act of 1967	Chapter 4 of Part 42 of the Act of 1997
	section 192 of that Act	section 1015 of that Act
	the Act of 1967 (other than Chapter IV of Part V)	the Act of 1997 (other than Chapter 4 of Part 42)
	section 192 of that Act	section 1015 of that Act
Regulation 3, in the definition of “reckonable income”	the Act of 1967	the Act of 1997
	Chapter 11 of Part I of the Finance Act, 1972 (No. 19 of 1972)	Chapter 1 of Part 30
Regulation 3, the definition of “the Act of 1967”	“the Act of 1967” means the Income Tax Act, 1967 (No. 6 of 1967);	“the Act of 1997” means the Taxes Consolidation Act, 1997;
Regulation 10, in paragraph (1)	section 129 of the Act of 1967	section 991 of the Act of 1997
Regulation 27	section 8(1) of the Finance Act, 1979 (No. 11 of 1979)	section 125 of the Act of 1997

SCHEDULE 32 Transitional Provisions

[ITA67 s472(1)]

Stock of local authorities

• (2) Section 49 shall apply as if in subsection (1) of that section “or paragraph 1 of Schedule 32” were inserted after “or 41”.

Income tax: exemption from tax of income from certain scholarships

[ITA67 s353; FA97 s11(2)]

• (a) in subsection (1) of that section the definitions of “relevant body” and “relevant scholarship” and paragraph (b) were deleted, and

• (b) subsections (3) and (4) of that section were deleted.

Corporation tax: exemption from tax of profits of Custom House Docks Development Authority

[FA88 s42; FA97 s49(4)]

• (2) Subparagraph (1) shall be repealed with effect from the 1st day of May, 1997.

Meaning of “relevant distributions” for the purposes of section 147 in relation to distributions made before 6th April, 1989

[FA80 s45(1) and (2)]

• (2) For the purposes of section 147, a distribution made by a company before the 6th day of April, 1989, shall be a relevant distribution if it was made on a day (in this paragraph referred to as “the relevant day”) on or after the 1st day of January, 1981, and if the total amount of the distributions made by the company on that day did not exceed an amount (in this paragraph referred to as “the amount of the primary fund”) determined by the formula—

(A − B) + (C − D) + E − F

where, subject to sections 46 to 49 of the Finance Act, 1980—

A is the amount of the company's income the corporation tax in respect of which was reduced under section 41 of that Act for the last relevant accounting period of the company which ended before the relevant day; but where the distribution was not a distribution declared by the company in a general meeting held as an annual general meeting, this definition shall apply as if the preceding reference to the last relevant accounting period which ended before the relevant day were a reference to the relevant accounting period of the company in which the distribution was made,

B is the amount of the corporation tax as reduced under section 41 of that Act in respect of the amount of income mentioned in the definition of “A”,

C is the aggregate of the amounts of the company's income the corporation tax in respect of which was reduced under section 41 of that Act for all relevant accounting periods of the company preceding the relevant accounting period which is to be taken into account in the definition of “A”,

D is the aggregate of the amounts of the corporation tax as reduced under section 41 of that Act in respect of the amounts of income comprised in the aggregate amount calculated in accordance with the definition of “C”,

E is the aggregate amount of the relevant distributions received by the company at any time before the relevant day; but a relevant distribution shall not be included within this definition if the distribution, together with the tax credit to which the company is entitled in respect of it, is franked investment income against which relief was given under section 15(4), 25 or 26 of the Corporation Tax Act, 1976, and which relief was not subsequently withdrawn under those sections, and

F is the aggregate amount of the relevant distributions made by the company on any day earlier than the relevant day.

• (3) Where in relation to a company the amount of the primary fund was greater than zero but was less than the total amount of the distributions made by the company on the relevant day, a distribution made by the company on that day shall be treated as if it consisted of 2 distributions, being respectively—

• (a) a relevant distribution equal to such an amount as bears to the whole of the distribution the same proportion as the amount of the primary fund bore to the total amount of the distributions so made on that day, and

• (b) a separate distribution which is not a relevant distribution and which consisted of the balance of the distribution.

Distributions out of certain income of manufacturing companies— provisions relating to relief for certain losses and capital allowances carried forward from 1975-76

[FA80 s47; FA88 s32(3) and Sch2 PtII pars1(c) and (d); FA95 s54(2) and Sch4 PtII pars2(1) (a) and (b); FA97 s59(6) and Sch6 PtII par2]

• (2) Where for any accounting period of a company which coincides with or includes a relevant accounting period—

• (a) the corporation tax referable to the income of the company from the sale in the course of a trade of goods for the relevant accounting period is to be reduced under section 448, and

• (b) a reduced relief under paragraph 16 is allowed as respects the accounting period in accordance with subparagraph (3) (ii) of that paragraph,

then—

• (i) the amount of the company's income which apart from this clause is to be taken into account in the definitions in section 147(1) of “A”, in respect of the relevant accounting period, and of “R”, in respect of the accounting period, shall be reduced as follows—

• (I) as respects A, by the amount determined by the formula—

G × S ×	H ___ J

where—

G is the amount of the reduction in the relief in respect of the trade for the accounting period under paragraph 16(3) (ii),

H is the income of the accounting period within the meaning of paragraph 18(4) (a) (i),

J is the relevant corporation tax for the accounting period within the meaning of paragraph 16, and

S is—

• (A) as respects accounting periods beginning before the 1st day of April, 1997, 38/28, and

• (B) as respects accounting periods beginning on or after that date, 36/26,

and

• (II) as respects R, by an amount determined by the formula—

V ×	H ___ J

where—

H and J have the same meanings respectively as in subclause (I), and

V is the amount of the relief for the accounting period under paragraph 16 before any reduction in that relief under subparagraph (3) (ii) of that paragraph, and

• (ii) the amount of the corporation tax (as reduced under section 448) which apart from this clause is to be taken into account in the definition of “B” in section 147(1) in respect of the relevant accounting period shall be reduced by an amount determined by the formula—

G × S

where—

G has the same meaning as in clause (i) (I), and

S is—

• (I) as respects accounting periods beginning before the 1st day of April, 1997, 10/28, and

• (II) as respects accounting periods beginning on or after that date, 10/26.

• (3)
• (a) For the purposes of subparagraph (2), where an accounting period begins before the 1st day of April, 1997, and ends on or after that day, it shall be divided into one part beginning on the day on which the accounting period begins and ending on the 31st day of March, 1997, and another part beginning on the 1st day of April, 1997, and ending on the day on which the accounting period ends, and both parts shall be treated as if they were separate accounting periods.

• (b) Where under clause (a) a part of an accounting period is treated as a separate accounting period, the corporation tax charged for the part which is so treated shall, in so far as it is affected by the rate of corporation tax which is taken to have been charged, be taken for the purposes of this paragraph to be the corporation tax which would have been charged if that part were a separate accounting period.

Distributions out of certain income of manufacturing companies— provisions relating to relief for certain corporation profits tax losses

[FA80 s48; FA88 s32(3) and Sch2 PtII pars1(e) and (f); FA95 s54(2) and Sch4 PtII par2(1) (c); FA97 s59(2) and Sch6 PtII par2]

• (2) Where for any accounting period of a company which coincides with or includes a relevant accounting period—

• (a) the corporation tax referable to the income of the company from the sale in the course of the trade of goods for the relevant accounting period is to be reduced under section 448, and

• (b) a reduced relief under paragraph 18 is allowed as respects the accounting period in accordance with subparagraph (4) (c) of that paragraph,

then—

• (i) the amount of the company's income which apart from this clause is to be taken into account in the definition in section 147(1) of “A”, in respect of the relevant accounting period, and of “R”, in respect of the accounting period, shall be reduced as follows—

• (I) as respects A, by an amount determined by the formula—

K ×	L ___ M	×	N ___ P

where—

K is the amount of the relief for the accounting period under paragraph 18 before any reduction in that relief under subparagraph (4) (c) of that paragraph,

L is the income of the accounting period within the meaning of paragraph 18(4) (a) (i),

M is the relevant corporation tax within the meaning of paragraph 16 in relation to the accounting period,

N is the income from the sale of goods within the meaning of section 448 for the relevant accounting period, and

P is the total income brought into charge to corporation tax for the accounting period, and

• (II) as respects R, by an amount determined by the formula—

K ×	L ___ M

where—

K, L, and M have the same meanings as in subclause (I), and

• (ii) the amount of the corporation tax (as reduced under section 448) which apart from this clause is to be taken into account in the definition of “B” in section 147(1) in respect of the relevant accounting period shall be reduced by an amount determined by the formula—

Q × S

where—

Q is the amount of the reduction in the relief for the accounting period under paragraph 18(4) (c), and

S is—

• (a) as respects accounting periods beginning before the 1st day of April, 1997, 10/28, and

• (b) as respects accounting periods beginning on or after that date, 10/26.

• (3)
• (a) For the purposes of subparagraph (2), where an accounting period begins before the 1st day of April, 1997, and ends on or after that day, it shall be divided into one part beginning on the day on which the accounting period begins and ending on the 31st day of March, 1997, and another part beginning on the 1st day of April, 1997, and ending on the day on which the accounting period ends, and both parts shall be treated as if they were separate accounting periods.

• (b) Where under clause (a) a part of an accounting period is treated as a separate accounting period, the corporation tax charged for the part which is so treated shall, in so far as it is affected by the rate of corporation tax which is taken to have been charged, be taken for the purposes of this paragraph to be the corporation tax which would have been charged if that part were a separate accounting period.

Approved share option schemes

[FA86 s10(1) and (2) (a) and (b); FA92 s12]

• (a) by reason of his or her office or employment as a director or employee of that or any other body corporate, and

• (b) in accordance with the provisions of a scheme approved under the Second Schedule to the Finance Act, 1986;

but neither this paragraph nor that Schedule shall apply in relation to such a right obtained on or after the 29th day of January, 1992.

• (2) Where the individual exercises the right in accordance with the provisions of the scheme referred to in subparagraph (1) (b) at a time when it is approved under the Second Schedule to the Finance Act, 1986—

• (a) income tax shall not be chargeable under section 128 in respect of any gain realised by the exercise of the right, and

• (b) if but for this clause section 547 would apply, that section shall not apply in calculating the consideration for the acquisition of the shares by the individual or for any corresponding disposal of them to the individual.

• (3)
• (a) This paragraph shall apply notwithstanding that the Second Schedule to the Finance Act, 1986, is not re-enacted by this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

• (b) Without prejudice to the generality of clause (a), sections 1052, 1053 and 1054 shall apply for the purposes of that clause as if in Schedule 29 there were included in Column 2 a reference to paragraph 14 of the Second Schedule to the Finance Act, 1986.

Interest on certain loans: relief from corporation tax

[CTA76 s177]

• (a) secured by mortgage or debenture or otherwise on the assets or income of a company, and

• (b) if subject to repayment, is subject to repayment at not less than 3 months' notice;

but a loan shall not be regarded as a permanent loan for the purposes of this paragraph if under the terms of the loan agreement the rate of interest or other conditions of the loan may be altered during the currency of the loan.

• (2) Where for the purposes of corporation tax the income of a company for an accounting period includes interest payable in respect of a permanent loan, the company shall be entitled on a due claim to have its liability to corporation tax for the accounting period reduced as provided by subparagraph (3).

• (3) The reduction referred to in subparagraph (2) shall be determined in accordance with subparagraph (4) (apart from clause (c)) of paragraph 18 as if the interest were a relevant deficiency within the meaning of subparagraph (1) of that paragraph.

• (4) Where in computing the reduction provided for by subparagraph (3) the appropriate amount as determined in accordance with paragraph 18(4) (a) (ii) is the company's income for the accounting period, the excess of such interest as is mentioned in subparagraph (2) for the accounting period over that income shall for the purposes of this paragraph be aggregated with the amount of any such interest for the next accounting period and relief shall be allowed for that period in respect of the aggregated amount and, if that aggregated amount exceeds the income for that period, the excess shall be carried forward to the accounting period succeeding that period and so on.

• (5) A claim under this paragraph shall be made to the inspector within 2 years from the end of the accounting period.

Allowance for certain capital expenditure on construction of multi-storey car-parks

[FA81 s25; FA86 s51(2); FA88 s49]

“multi-storey car-park” means a building or structure consisting of 3 or more storeys wholly in use for the purpose of providing, for members of the public generally without preference for any particular class of person, on payment of an appropriate charge, parking space for mechanically propelled vehicles;

“relevant expenditure” means capital expenditure incurred on or after the 29th day of January, 1981, and before the 1st day of April, 1991, on the construction of a multi-storey car-park.

• (2) The provisions of the Tax Acts (other than section 273) relating to the making of allowances or charges in respect of capital expenditure on the construction of an industrial building or structure shall apply to relevant expenditure as if it were expenditure incurred on the construction of a building or structure in respect of which an allowance is to be made for the purposes of income tax or corporation tax, as the case may be, under Part 9 by reason of its use for a purpose specified in section 268(1) (a).

Allowance for certain capital expenditure on roads, bridges, etc

[FA81 s26; FA84 s39; FA89 s17]

“chargeable period” and “chargeable period or its basis period” have the same meanings as in section 321(2);

“qualifying period” means the period commencing on the 29th day of January, 1981, and ending on the 31st day of March, 1989, or, in the case of a relevant agreement entered into on or after the 6th day of April, 1987, ending on the 31st day of March, 1992;

“relevant agreement” means an agreement between a road authority and another person under section 9 of the Local Government (Toll Roads) Act, 1979, by virtue of which that other person incurs relevant expenditure;

“relevant expenditure” means capital expenditure incurred by a person during the qualifying period by virtue of a relevant agreement including, in the case of a relevant agreement entered into on or after the 6th day of April, 1987, interest on money borrowed to meet such capital expenditure, but does not include any expenditure in respect of which any person is entitled to a deduction, relief or allowance under any provision of the Tax Acts other than this paragraph;

“relevant income” means income which arises to a person by virtue of a relevant agreement;

“road authority” has the meaning assigned to it by the Local Government (Toll Roads) Act, 1979.

• (2) Where in the case of a relevant agreement entered into before the 6th day of April, 1987, a person, having made a claim in that behalf, proves as respects a chargeable period that relevant income was receivable by such person in that chargeable period or its basis period and that such person has incurred relevant expenditure, then, such person shall, subject to subparagraph (4), be entitled, for the purpose only of ascertaining the amount (if any) of relevant income on which such person is to be charged to tax for the chargeable period, to an allowance equal to 50 per cent of the relevant expenditure; but the aggregate amount of all allowances made to that person under this subparagraph in relation to any relevant expenditure shall not exceed an amount equal to 50 per cent of that expenditure.

• (3) Where a person, having made a claim in that behalf, proves as respects a chargeable period that relevant income was receivable and relevant expenditure was incurred by such person in the chargeable period or its basis period by virtue of the relevant agreement (being a relevant agreement entered into on or after the 6th day of April, 1987) giving rise to the relevant income, such person shall, subject to subparagraph (4), be entitled, for the purpose only of ascertaining the amount (if any) of that relevant income on which such person is to be charged to tax—

• (a) to an allowance equal to 50 per cent of the relevant expenditure for that chargeable period, and

• (b) to an allowance equal to 10 per cent of the relevant expenditure for each of the next 5 chargeable periods in which that relevant income is receivable by such person;

and, for the purposes of this subparagraph, all relevant expenditure so incurred before the chargeable period in which relevant income is first receivable shall be deemed to have been incurred on the first day of that chargeable period.

• (4) Where an allowance to which a person is entitled under this paragraph cannot be given full effect for any chargeable period by reason of a want or deficiency of relevant income, then (so long as the person has relevant income), the amount unallowed shall be carried forward to the succeeding chargeable period and the amount so carried forward shall be treated for the purposes of this paragraph, including any further application of this subparagraph, as the amount of a corresponding allowance for that period.

• (5) An appeal to the Appeal Commissioners shall lie on any question arising under this paragraph in the like manner as an appeal would lie against an assessment to income tax or corporation tax, and the provisions of the Tax Acts relating to appeals shall apply accordingly.

Urban Renewal Scheme, 1986— capital allowances in relation to certain commercial premises in designated areas other than the Custom House Docks Area

[FA86 s42]

Urban Renewal Scheme, 1986— allowances to owner-occupiers in relation to certain residential premises in designated areas other than the Custom House Docks Area

[FA86 s44]

Urban Renewal Scheme, 1986— double rent allowance in relation to certain premises in designated areas other than the Custom House Docks Area

[FA86 s45]

Rented residential accommodation— deduction for expenditure incurred on construction, conversion or refurbishment in areas other than the Custom House Docks Area

[FA81 s23 and s24; FA85 s21 and s22; FA91 s56, s57 and s58]

• (a) be entitled to a deduction, or

• (b) be deemed to have received an amount as rent,

under—

• (i) section 23 of the Finance Act, 1981,

• (ii) section 23 of the Finance Act, 1981, as applied by virtue of section 24 of that Act or section 22 of the Finance Act, 1985, or

• (iii) section 23 of the Finance Act, 1981, as applied by section 21 of the Finance Act, 1985,

in so far as those sections applied to areas other than the Custom House Docks Area (within the meaning of section 41 of the Finance Act, 1986), then, notwithstanding that those sections as they so applied are not re-enacted by this Act, the person shall be entitled to that deduction or be deemed to have received that amount as rent, as the case may be, under this Act, and accordingly this Act shall apply with any modifications necessary to give effect to this paragraph.

Loss relief, etc

• (a) losses or expenditure incurred in, or an excess of deficiencies over surpluses in, or other amounts referable to, a year of assessment or accounting period earlier than a year of assessment or accounting period to which this Act applies may be taken into account for any tax purposes in a year of assessment or accounting period to which this Act applies, or