847C Tax treatment of return of value on certain shares where shareholders affected by postal delays

This section provides that Irish shareholders in Standard Life whose forms electing to take B shares in relation to a return of value by the company in 2015 were delayed in the post will be treated as having received a capital payment from the company for tax purposes. The effect of this provision is that Irish shareholders who had elected to take the return of value as a capital payment, but who would have been liable to income tax on those payments as a result of postal delays, will be liable to capital gains tax rather than income tax in respect of those payments.

Relevant Date: Finance Act 2021