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14 1982

FINANCE ACT, 1982

Chapter VIII

Corporation Tax: Relief in respect of Increase in Employment

Interpretation ( Chapter VIII ).

43. —In this Chapter—

base period” has the meaning assigned to it by section 44 ;

contribution week”, “employed contributor” and “employment contributions” have the same meanings as in the Social Welfare (Consolidation) Act, 1981 ;

relevant period” means an accounting period or part of an accounting period of a company falling within the year ending on the 30th day of June, 1983;

trade” means trade or profession.

Base period.

44. —For the purposes of this Chapter the base period in relation to a trade means the year ending on the 30th day of June, 1982, or, if it is shorter, the period from the date on which the trade was first carried on to the 30th day of June, 1982, and the base period shall be applicable in relation to the trade whether or not during the whole or part of the base period the trade was carried on by a person other than the company by which it is carried on in the relevant period or separate parts of the trade were carried on by different persons.

Deduction in computing trading income.

45. —(1) Where a company which carried on a trade in the State on the 1st day of January, 1982, claims and proves that the number (hereafter in this section referred to as “the first number”) of employment contributions payable by the company in a relevant period in respect of all employed contributors who are employed in that period for substantially the whole of their time in the course of the trade exceeds the number (hereafter in this section referred to as “the second number”) determined in accordance with the provisions of subsection (2) then, in computing the income from the trade for an accounting period which coincides with or includes the relevant period, the company shall be entitled to deduct an amount calculated by multiplying £10 by the excess of the first number over the second number.

(2) For the purposes of subsection (1) the second number shall be determined by the formula

A ×

B

__

C

where—

A is the number of employment contributions payable in the base period in respect of all employed contributors who were employed in that period for substantially the whole of their time in the course of the trade,

B is the number of contribution weeks in the relevant period, and

C is the number of contribution weeks in the base period.

Apportionments arising from transfer of part of trade.

46. —Where, on or after the 1st day of July, 1981, any change takes, or has taken, place whereby part of a trade is, or was, transferred to any person, the number of employment contributions payable in respect of employed contributors shall be apportioned for the purposes of sections 45 and 47 and every such apportionment shall be made in such manner as the Revenue Commissioners consider just having regard to all the circumstances.

Determination of number of employment contributions.

47. —For the purposes of this Chapter the number of employment contributions payable in respect of an employed contributor in any period shall be equal to the number of contribution weeks in that period for which the appropriate contribution or contributions in respect of that employed contributor was or were paid or would have been paid but for section 10 (1) (c) of the Social Welfare (Consolidation) Act, 1981 .

Succession to trade.

48. —Where a company succeeds to a trade or part of a trade carried on by another company, the first-mentioned company shall, for the purposes of this Chapter, be deemed to have carried on the trade or part of the trade from the date on which the other company commenced to carry on the trade.

Claims.

49. —A company shall not be entitled to a deduction by virtue of this Chapter in computing its trading income for an accounting period unless it makes a claim for the deduction before the date on which the assessment for the accounting period becomes final and conclusive.