Revenue Precedents

An application for outline planning permission satisfies the requirement of section 405(2)(b)(ii). IT923066

Do the ring-fence provisions in the section apply to the purchaser of a holiday cottage, in respect of which allowances have been claimed, where the original construction expenditure was incurred before the cut-off date? No. – the purchaser is claiming in respect of the residue of the original expenditure – not in respect of the expenditure incurred on the purchase of the property. IT963505