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13 1991

FINANCE ACT, 1991

Chapter VII

Urban Renewal: Temple Bar and Other Areas

Preliminary and general ( Chapter VII )

54. —(1) In this Chapter—

the Temple Bar Area” means the area described in Part II of the Second Schedule ;

(2) The Second Schedule shall have effect for the purposes of supplementing this Chapter.

(3) Subject to subsection (4), the provisions of the Finance Act, 1986 , which are specified in section 55 as having effect in relation to the Temple Bar Area shall have such effect, as appropriate, subject to any necessary modifications—

(a) as if the Temple Bar Area were an area described in an order made by the Minister for Finance under section 27 of the Finance Act, 1987 ,

(b) as if the reference in paragraph (a) (ii) of subsection (1) of the said section 27 to the “31st day of May, 1991,” were a reference to the “5th day of April, 1996,”, and

(c) as if the order referred to in paragraph (a) directed that in sections 42 , 44 and 45 of the Finance Act, 1986 , the definition of “qualifying period” is to be construed as a reference to the period from the 6th day of April, 1991, to the 5th day of April, 1996, in relation to the Temple Bar Area.

(4) The provisions which are specified in this Chapter as having effect in relation to capital, or other, expenditure incurred or rent payable in relation to any building or premises however described in this Chapter in the Temple Bar Area shall have such effect only if the relevant building or premises in relation to which the said capital, or other, expenditure was incurred or rent is so payable, is approved for the purposes of this Chapter by the company known as Temple Bar Renewal Limited.

Temple Bar reliefs.

55. —(1) (a) In this subsection—

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

qualifying building” means a dwelling-house or other building or structure—

(i) which is constructed in the Temple Bar Area in the period from the 6th day of April, 1991, to the 5th day of April, 1996, and

(ii) which would be qualifying premises for the purposes of section 42 , 44 or 45 of the Finance Act, 1986 , as the case may be, in the circumstancesdescribed in section 54 (3), if paragraph (a) of the definition of “qualifying premises” in subsection (1) of the said section 42 had not been enacted.

(b) As respects any qualifying building, the following provisions shall have effect, as appropriate, in the following manner, that is to say—

(i) section 42 of the Finance Act, 1986 , other than paragraph (a) of the definition of “qualifying premises” in subsection (1) of that section, shall have effect in its entirety as respects capital expenditure incurred on the construction of any such building and on the basis that subsection (4) of that section has effect as respects any qualifying building to which that section applies other than a multi-storey car-park;

(ii) section 44 of the Finance Act, 1986 , shall have effect as respects any qualifying expenditure (being qualifying expenditure for the purposes of that section) incurred on the construction but not on the refurbishment of any such building;

(iii) section 45 of the Finance Act, 1986 , shall have effect as respects rent payable for any such building.

(2) (a) In this subsection—

qualifying building” means an existing dwelling-house or other building or structure in the Temple Bar Area as on the 1st day of January, 1991, which would be qualifying premises for the purposes of section 42 , 44 or 45 of the Finance Act, 1986 , as the case may be, in the circumstances described in section 54 (3), if paragraph (a) of the definition of “qualifying premises” in subsection (1) of the said section 42 had not been enacted;

refurbishment” means any work of construction, reconstruction, repair or renewal, including the provision or improvement of water, sewerage or heating facilities, carried out in the course of repair or restoration, or maintenance in the nature of repair or restoration, of a building, which is consistent with the original character or fabric of the building.

(b) As respects any qualifying building, the following provisions shall have effect, as appropriate, in the following manner, that is to say—

(i) section 42 of the Finance Act, 1986 , other than paragraph (a) of the definition of “qualifying premises” in subsection (1) and subsection (4), shall have effect as respects capital expenditure incurred on the refurbishment of any such building;

(ii) section 44 of the Finance Act, 1986 , shall have effect as respects qualifying expenditure (being qualifying expenditure for the purposes of that section) incurred on the refurbishment of any such building—

(I) as if the definition of “refurbishment” in this subsection were substituted for the definition of“refurbishment” provided for in the said section 44, and

(II) as if the reference in subsection (2) of the said section 44 to “5 per cent.” were a reference to “10 per cent.”,

and

(iii) section 45 of the Finance Act, 1986 , shall have effect as respects rent payable in respect of any such building:

Provided that capital expenditure for the purposes of subparagraph (i) and expenditure for the purposes of subparagraph (ii) of this paragraph shall be deemed to include—

(I) any expenditure incurred on the purchase of the qualifying building which is the subject of the capital expenditure referred to in the said subparagraph (i) or the expenditure on refurbishment referred to in the said subparagraph (ii), as the case may be, other than expenditure incurred on the acquisition of, or of rights in or over, any land, or

(II) an amount which is equal to the amount of the value of the said building as on the 1st day of January, 1991, other than any amount of such value as is attributable to, or to rights in or over, any land,

whichever is the lesser, if the expenditure specified at clause (I) of this proviso or the amount specified at clause (II) of this proviso, as the case may be, is not greater than the amount of the capital expenditure referred to in the said subparagraph (i) or the amount of expenditure on refurbishment referred to in the said subparagraph (ii), as the case may be.

(3) Notwithstanding any other provision of the Tax Acts, where part of a qualifying building, within the meaning of subsection (1) (a) or (2) (a), is used for commercial purposes and part is used for residential purposes, the total amount of the expenditure incurred on the construction or refurbishment of the building shall be apportioned as between the respective parts of the building in such manner as is just and reasonable for the purpose of giving effect to the provisions of this section.

Application of section 23 (deduction for certain expenditure on construction of rented residential accommodation) of Finance Act, 1981.

56. —(1) As respects relevant expenditure to which this section applies, section 23 of the Finance Act, 1981 , shall have effect—

(a) as if for the definition of “qualifying period” (as provided for by section 27 of the Finance Act, 1988 ) in subsection (1) (a), there were substituted—

(i) where relevant expenditure is incurred in the designated area known as the Custom House Docks Area (as provided for by section 41 of the Finance Act, 1986 ), the following definition:

“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the last day of the specified period (being the specified period within the meaning of section 41 of the Finance Act, 1986 );”,

(ii) where relevant expenditure is incurred in any other designated area (as so provided for and subject to section 27 of the Finance Act, 1987 ), the following definition:

“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the 31st day of May, 1993;”,

(iii) where relevant expenditure is incurred in the area known as the Temple Bar Area, the following definition:

“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the 5th day of April, 1996;”, or

(iv) where relevant expenditure is incurred in any other area, the following definition:

“‘qualifying period’ means the period commencing on the 1st day of April, 1991, and ending on the 31st day of March, 1992;”,

(b) as if in the definition of “qualifying premises” in the said subsection (1) (a) “90 square metres” were substituted for “75 square metres”, and

(c) where relevant expenditure is incurred in any area to which subparagraph (i), (ii) or (iii) of paragraph (a) of subsection (1) relates, as if section 30 of the Finance Act, 1983 , were deleted.

(2) In this section “relevant expenditure” means expenditure on the construction of a qualifying premises (being a qualifying premises within the meaning of subsection (1) (a) of section 23 of the Finance Act, 1981 ) incurred in the qualifying period (being the qualifying period within the meaning of subsection (1) (a) of the said section 23, subject to the provisions of subsection (1) (a) of this section):

Provided that expenditure to which section 24 of the Finance Act, 1981 , applies which is incurred in the Temple Bar Area shall be construed as expenditure on refurbishment (being refurbishment within the meaning of paragraph (a) of section 55 (2)) in the course of the conversion into two or more houses of a building which, prior to the conversion, had not been in use as a dwelling or had been in use as a single dwelling.

Application of section 21 (rented residential accommodation: deduction for expenditure on refurbishment) of Finance Act, 1985.

57. —(1) This section applies to—

(a) expenditure incurred on refurbishment (being refurbishment within the meaning of paragraph (a) of section 55 (2)) of a specified building (being a specified building within the meaning of subsection (1) (a) of section 21 of the Finance Act, 1985 ) in the Temple Bar Area;

(b) relevant expenditure within the meaning of subsection (1) (a) of section 21 of the Finance Act, 1985 , incurred—

(i) in the designated area known as the Custom House Docks Area (as provided for by section 41 of the Finance Act, 1986 ) in the period commencing on the 30th day of January, 1991, and ending on the last day of the specified period (being the specified period within the meaning of the said section 41),

(ii) in any other designated area (as so provided for and subject to section 27 of the Finance Act, 1987 ) in the period commencing on the 30th day of January, 1991, and ending on the 31st day of May, 1993, and

(iii) in any other area, in the period commencing on the 1st day of April, 1991, and ending on the 31st day of March, 1992.

(2) As respects expenditure to which subsection (1) (a) applies, section 21 of the Finance Act, 1985 , shall be deemed to have effect—

(a) as if for the definition of “refurbishment” in paragraph (1) (a) of the said section 21, there were substituted the definition of “refurbishment” in paragraph (a) of section 55 (2),

(b) as if for the definition of “qualifying period” (as provided for by section 28 of the Finance Act, 1988 ) in subsection (2) (a) (iii) there were substituted the following definition:

“‘qualifying period’ means the period commencing on the 6th day of April, 1991, and ending on the 5th day of April, 1996;”,

and

(c) as if the proviso to subsection (2) of section 29, and subsections (3) and (4) of that section, of the Finance Act, 1983 , were deleted.

(3) As respects relevant expenditure to which subsection (1) (b) applies, section 21 of the Finance Act, 1985 , shall have effect—

(a) as if for the definition of “qualifying period” (as provided for by section 28 of the Finance Act, 1988 ) in subsection (2) (a) (iii) there were substituted—

(i) in the case of relevant expenditure within the meaning of subparagraph (i) of the said subsection (1) (b), the following definition:

“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the last day of the specified period (being the specified period within the meaning of section 41 of the Finance Act, 1986 );”,

(ii) in the case of relevant expenditure within the meaning of subparagraph (ii) of the said subsection (1) (b), the following definition:

“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the 31st day of May, 1993;”,

and

(iii) in the case of relevant expenditure within the meaning of subparagraph (iii) of the said subsection (1) (b), the following definition:

“‘qualifying period’ means the period commencing on the 1st day of April, 1991, and ending on the 31st day of March, 1992;”,

(b) as if the proviso to section 29 (2) of the Finance Act, 1983 , were deleted, and

(c) in the case of relevant expenditure within the meaning of subparagraphs (i) and (ii) of the said subsection (1) (b), as if subsections (3) and (4) of section 29 of the Finance Act, 1983 , were deleted.

Application of section 22 (extension of application of relief for conversion of certain buildings) of Finance Act, 1985.

58. —(1) This section applies to—

(a) expenditure incurred on refurbishment (being refurbishment within the meaning of paragraph (a) of section 55 (2)) in the course of conversion into a house of a building in the Temple Bar Area not previously in use as a dwelling;

(b) expenditure within the meaning of section 22 of the Finance Act, 1985 , incurred—

(i) in the designated area known as the Custom House Docks Area (as provided for by section 41 of the Finance Act, 1986 ) in the period commencing on the 30th day of January, 1991, and ending on the last day of the specified period (being the specified period within the meaning of the said section 41),

(ii) in any other designated area (as so provided and subject to section 27 of the Finance Act, 1987 ) in the period commencing on the 30th day of January, 1991, and ending on the 31st day of May, 1993, and

(iii) in any other area in the period commencing on the 1st day of April, 1991, and ending on the 31st day of March, 1992.

(2) As respects expenditure to which subsection (1) (a) applies, section 22 of the Finance Act, 1985 , shall be deemed to have effect, subject to any necessary modifications—

(a) in subsections (1) and (2) of the said section 22, as if for “commencing on the 27th day of January, 1988, and ending on the 31st day of March, 1991,” (as provided for by section 29 of the Finance Act, 1988 ) there were substituted “commencing on the 6th day of April, 1991, and ending on the 5th day of April, 1996,”,

(b) as if subsection (2) of the said section 22 were deleted,

(c) in subsection (4) of the said section 22, as if for the definition of “qualifying period” (as so provided for) there were substituted the following definition:

“‘qualifying period’ means the period commencing on the 6th day of April, 1991, and ending on the 5th day of April, 1996;”,

(d) as if the proviso to section 29 (2) and section 30 of the Finance Act, 1983 , were deleted, and

(e) as if the said expenditure were expenditure within the meaning of subsection (1) of section 24 of the Finance Act, 1981 .

(3) (a) As respects expenditure to which subsection (1) (b) (i) applies, section 22 of the Finance Act, 1985 , shall have effect—

(i) in subsections (1) and (2) of the said section 22, as if for “commencing on the 27th day of January, 1988, and ending on the 31st day of March, 1991,” (as provided for by section 29 of the Finance Act, 1988 ) there were substituted “commencing on the 30th day of January, 1991, and ending on the last day of the specified period (being the specified period within the meaning of section 41 of the Finance Act, 1986 ),”,

(ii) in subsection (4) of the said section 22, as if for the definition of “qualifying period” (as so provided for) there were substituted the following definition:

“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the last day of the specified period (being the specified period within the meaning of section 41 of the Finance Act, 1986 );”,

and

(iii) as if the proviso to section 29 (2) and section 30 of the Finance Act, 1983 , were deleted;

(b) as respects expenditure to which subsection (1) (b) (ii) applies, section 22 of the Finance Act, 1985 , shall have effect—

(i) in subsections (1) and (2) of the said section 22, as if for “commencing on the 27th day of January, 1988, and ending on the 31st day of March, 1991,” (as provided for by section 29 of the Finance Act, 1988 ) there were substituted “commencing on the 30th day of January, 1991, and ending on the 31st day of May, 1993,”,

(ii) in subsection (4) of the said section 22, as if for the definition of “qualifying period” (as so provided for) there were substituted the following definition:

“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the 31st day of May, 1993;”,

and

(iii) as if the proviso to section 29 (2) and section 30 of the Finance Act, 1983 , were deleted;

(c) as respects expenditure to which subsection (1) (b) (iii) applies, section 22 of the Finance Act, 1985 , shall have effect—

(i) in subsections (1) and (2) of the said section 22 , and section 30 (2) of the Finance Act, 1983 , as if for “commencing on the 27th day of January, 1988, and ending on the 31st day of March, 1991,” (as provided for by section 29 of the Finance Act, 1988 ) there were substituted “commencing on the 1st day of April, 1991, and ending on the 31st day of March, 1992,”,

(ii) in subsection (4) of the said section 22, as if for the definition of “qualifying period” (as so provided for) there were substituted the following definition:

“‘qualifying period’ means the period commencing on the 1st day of April, 1991, and ending on the 31st day of March, 1992;”,

and

(iii) as if the proviso to section 29 (2) of the Finance Act, 1983 , were deleted.