Revenue Precedents

Whether section 490(1)(b) TCA 1997 means that a subscrption for shares by a non-assessable spouse is regarded for all purposes as a subscription by the assessable spouse? No; the paragraphs applies only as regards the minimum subscription required for a husband and wife. A subscription of 200 by either or both will fulfill the minimum subscription rule. IT932024

Whether relief is transferable in the case of a married couple jointly assessed for tax? No. The maximum allowable subscription of €25,000 applies to each spouse seperately. 4297/86