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14 1980

FINANCE ACT, 1980

PART VI

Miscellaneous

Capital Services Redemption Account.

88. —(1) In this section—

the principal section” means section 22 of the Finance Act, 1950 ;

the 1979 amending section” means section 57 of the Finance Act, 1979 ;

the thirtieth additional annuity” means the sum charged on the Central Fund under subsection (4) of this section;

the Minister,” “the Account” and “capital services” have the same meanings respectively as they have in the principal section.

(2) In relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of December, 1980, subsection (4) of the 1979 amending section shall have effect with the substitution of “£18,018,754” for “£18,381,262”.

(3) Subsection (6) of the 1979 amending section shall have effect with the substitution of “£11,374,372” for “£11,832,415”.

(4) A sum of £20,397,734 to redeem borrowings, and interest thereon, in respect of capital services shall be charged annually on the Central Fund or the growing produce thereof in the thirty successive financial years commencing with the financial year ending on the 31st day of December, 1980.

(5) The thirtieth additional annuity shall be paid into the Account in such manner and at such times in the relevant financial year as the Minister may determine.

(6) Any amount of the thirtieth additional annuity, not exceeding £13,130,462 in any financial year, may be applied towards defraying the interest on the public debt.

(7) The balance of the thirtieth additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.

Amendment of section 47 (disclosure of certain information by Revenue Commissioners to certain persons) of Finance Act, 1978.

89. Section 47 of the Finance Act, 1978 , is hereby amended by the substitution for subsection (1) of the following subsection:

“(1) This section applies to any charge imposed on public monies, being a charge for the purposes of relief under the Rates on Agricultural Land (Relief) Acts, 1939 to 1978, and any subsequent enactment, together with which those Acts may be cited.”.

Increase of excise duties on licences for mechanically propelled vehicles.

90. —(1) Section 94 of the Finance Act, 1973 , is hereby amended by—

(a) the substitution of “£5” for “£1” in paragraph (a) of subsection (2), and

(b) the substitution of “£10” for “£5” in paragraph (b) of subsection (2).

(2) This section shall have effect—

(a) as respects licences under section 1 of the Finance (Excise Duties) (Vehicles) Act, 1952 , taken out for periods beginning on or after the 1st day of April, 1980, in respect of specified vehicles (within the meaning of the said section 94), and

(b) as respects other mechanically propelled vehicles to which the said section 94 applies and in respect of which licences under the said section 1 are taken out for periods beginning on or after the said 1st day of April, 1980.

Amendment of Finance (Excise Duties) (Vehicles) Act, 1952.

91. —The Finance (Excise Duties) (Vehicles) Act, 1952 , is hereby amended—

(a) as respects licences under that Act for periods beginning on or after the 1st day of April, 1980—

(i) in section 1 (2) (b), by the substitution of “£10 or less” for “five pounds or less” (inserted by the Finance Act, 1966 ) and

(ii) in paragraph 4 of Part I of the Schedule—

(I) by the substitution of “£10” for “25p” in subparagraph (a),

(II) by the substitution of “£10” for “£1” (inserted by the Finance Act, 1973 ) in subparagraph (b), and

(III) by the substitution of “£10” for “£5” (inserted by the Finance Act, 1973 ) in subparagraph (c), and

(b) with effect as on and from the 1st day of April, 1980, by the substitution in section 4 (1A) (inserted by the Finance Act, 1961 ) of the following paragraphs for paragraphs (a) and (b):

“(a) three pounds if the period of the licence is one year, and

(b) three pounds for each year of the period of the licence if that period is two or more years.”.

Increase of excise duties on vehicle trade licences.

92. —Section 15 (2) of the Finance Act, 1922, shall, as applied by section 3 of the Finance (Excise Duties) (Vehicles) Act, 1952 , and notwithstanding the terms of the latter section, have effect, as respects licences to which the said section 15 (2) applies taken out on or after the 1st day of January, 1981, as if—

(a) “£100” were substituted for “thirty-seven pounds ten shillings” (inserted by the said Finance (Excise Duties) (Vehicles) Act, 1952 ) in paragraph (a),

(b) “£20” were substituted for “seven pounds ten shillings” (inserted by the said Finance (Excise Duties) (Vehicles) Act, 1952 ) in paragraphs (a) and (b), and

(c) “£4” were substituted for “one pound ten shillings” (inserted by the said Finance (Excise Duties) (Vehicles) Act, 1952 ) in paragraph (b).

Interest on death duties.

93. —(1) Notwithstanding section 18 of the Finance Act, 1896, section 9 of the Finance Act, 1912, section 30 of the Finance Act, 1919, or section 32 of the Finance Act, 1971 , simple interest at the rate of 15 per cent. per annum, without deduction of income tax, shall be payable on any death duties outstanding after the date of the passing of this Act:

Provided that, in any case where such duties are being paid by instalments, the said interest shall be payable thereon at the rate of 9 per cent. per annum in lieu of the rate aforesaid.

(2) This section shall be construed together with the Finance Act, 1894, and the enactments amending or extending that Act.

Repeals.

94. —Each enactment specified in column (2) of the Eighth Schedule to this Act is hereby repealed to the extent specified in column (3) of that Schedule.

Care and management of taxes and duties.

95. —All taxes and duties imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.

Short title, construction and commencement.

96. —(1) This Act may be cited as the Finance Act, 1980.

(2) Part I of this Act (so far as relating to income tax) shall be construed together with the Income Tax Acts and (so far as relating to corporation tax) shall be construed together with the Corporation Tax Acts and (so far as relating to capital gains tax) shall be construed together with the Capital Gains Tax Acts.

(3) Part II of this Act, so far as it relates to customs, shall be construed together with the Customs Acts and the said Part II, so far as it relates to duties of excise, shall be construed together with the statutes which relate to the duties of excise and to the management of those duties.

(4) Part III of this Act shall be construed together with the Value-Added Tax Acts, 1972 to 1979, and may be cited together therewith as the Value-Added Tax Acts, 1972 to 1980.

(5) Part IV of this Act shall be construed together with the Capital Acquisitions Tax Act, 1976 , and the enactments amending or extending that Act.

(6) Part V of this Act shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.

(7) Part I and section 89 of this Act shall, save as is otherwise expressly provided therein, be deemed to have come into force and shall take effect as on and from the 6th day of April, 1980.

(8) Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment including this Act.