Link Report

(a) in section 304, by inserting the following subsection after subsection (3):

“estimated relevant allowances” means an amount that, based on the best estimate that may reasonably be made, is likely to equal the amount of the relevant allowances when the amount of those allowances is calculated in accordance with section 304(3A);

“relevant allowances” has the same meaning as it has in section 304(3A);

(2) Subject to subsections (3) and (4), a relevant individual may make a provisional claim for relief under section 395A or 304(3A), as the case may be (in this section referred to as an ‘interim claim’) as if—

(b) references to relevant allowances in section 304(3A) were references to estimated relevant allowances.

(c) a claim under section 395A or 304(3A), as the case may be, shall be made by the specified return date for the tax year in which the relevant loss is sustained or relevant allowances are claimed (in this section referred to as the ‘final claim’), as the case may be, and if no such claim is made by that date then, where the amounts of the relevant loss and the relevant allowances that would be subject to such a claim are not lower than the estimated relevant loss and the estimated relevant allowances upon which the interim claim was made, the interim claim shall be deemed to be a final claim.

“relevant allowances” has the same meaning as it has in section 304(3A);

“specified individual” means an individual to whom Chapter 2A of Part 15 applies, prior to making a claim under this Chapter or section 304(3A).

(2) Subject to subsections (3) and (4), the total amount of relevant losses and relevant allowances in respect of which an individual carrying on a trade or profession may claim relief in the year of assessment 2019 under this Chapter and section 304(3A) shall not exceed €25,000.

(4) The restriction referred to in subsection (3) is that the total amount that may be claimed under this Chapter and section 304(3A) shall be limited such that there shall be no reduction in the amount of any other relief used, within the meaning of section 485C(2)(a), in respect of the year of assessment 2019 prior to claims being made under this Chapter or section 304(3A).”,

(4) The restriction referred to in subsection (3) is that the total amount that may be claimed under this Chapter and section 304(3A) shall be limited such that there shall be no reduction in the amount of any other relief used, within the meaning of section 485C(2)(a), in respect of the year of assessment 2019 prior to claims being made under this Chapter or section 304(3A).”,

(3) There shall be made to or on the successor in accordance with sections 307 and 308 all such allowances and charges as would, if the bank had continued to carry on the trade, have been made to or on the bank, and the amount of any such allowance or charge shall be computed as if the successor had been carrying on the trade since the trustee savings bank began to do so and as if everything done to or by the bank had been done to or by the successor; but the successor shall not be entitled to any amount which would have been made to the trustee savings bank by virtue only of section 304(4).

(b) where full effect has not been given in respect of the aggregate for that tax year, the part of that aggregate in respect of which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of the aggregate in respect of which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of the aggregate for that year, the part of that aggregate in respect of which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

Section 304(4) (income tax: allowances and charges in taxing a trade, etc.).

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

(b) where full effect has not been given in respect of that aggregate for that tax year, the part of that aggregate to which full effect has been given for that tax year in accordance with section 278 and section 304 or 305, as the case may be, or any of those sections as applied or modified by any other provision of the Tax Acts.

Determination of amount of capital allowances carried forward under section 304 which are referable to specified reliefs.

(a) are, in accordance with section 304(4), added to the amount of the allowances to be made to the individual under that Part for the tax year 2007, or

(a) were added to the allowances to be made for any of those years by section 304(4), or

(a) were added to the allowances to be made for any of those years by section 304(4), or

(a) were added to the allowances to be made for any of those years by section 304(4), or

(a) were added to the allowances to be made for any of those years by section 304(4), or

“estimated relevant allowances” means an amount that, based on the best estimate that may reasonably be made, is likely to equal the amount of the relevant allowances when the amount of those allowances is calculated in accordance with section 304(3A);

“relevant allowances” has the same meaning as it has in section 304(3A);

(2) Subject to subsections (3) and (4), a relevant individual may make a provisional claim for relief under section 395A or 304(3A), as the case may be (in this section referred to as an ‘interim claim’) as if—

(b) references to relevant allowances in section 304(3A) were references to estimated relevant allowances.

(c) a claim under section 395A or 304(3A), as the case may be, shall be made by the specified return date for the tax year in which the relevant loss is sustained or relevant allowances are claimed (in this section referred to as the ‘final claim’), as the case may be, and if no such claim is made by that date then, where the amounts of the relevant loss and the relevant allowances that would be subject to such a claim are not lower than the estimated relevant loss and the estimated relevant allowances upon which the interim claim was made, the interim claim shall be deemed to be a final claim.

“relevant allowances” has the same meaning as it has in section 304(3A);

“specified individual” means an individual to whom Chapter 2A of Part 15 applies, prior to making a claim under this Chapter or section 304(3A).

(2) Subject to subsections (3) and (4), the total amount of relevant losses and relevant allowances in respect of which an individual carrying on a trade or profession may claim relief in the year of assessment 2019 under this Chapter and section 304(3A) shall not exceed €25,000.

(4) The restriction referred to in subsection (3) is that the total amount that may be claimed under this Chapter and section 304(3A) shall be limited such that there shall be no reduction in the amount of any other relief used, within the meaning of section 485C(2)(a), in respect of the year of assessment 2019 prior to claims being made under this Chapter or section 304(3A).

(4) The restriction referred to in subsection (3) is that the total amount that may be claimed under this Chapter and section 304(3A) shall be limited such that there shall be no reduction in the amount of any other relief used, within the meaning of section 485C(2)(a), in respect of the year of assessment 2019 prior to claims being made under this Chapter or section 304(3A).

(1) As respects any tax year, the amount of any specified capital allowance, in relation to a building or structure, that is available to be carried forward, in accordance with section 304 or 305, to a relevant tax year or to any subsequent tax year, shall, subject to subsections (5) and (6), be zero for all the purposes of the Tax Acts.

(3) As respects any tax year, the amount of any area-based capital allowance, in relation to a building or structure, that is available to be carried forward to a relevant tax year or to any subsequent tax year, in accordance with section 304 or 305, as those provisions are applied or modified by any other provision of the Tax Acts shall, subject to subsections (5) and (6), be zero for all the purposes of those Acts.

(a) to the extent that any unused capital allowances attributable to capital expenditure incurred on the construction or refurbishment of that building or structure, have been carried forward in accordance with section 304 or 305 to the tax year, and are used in that tax year to reduce the amount of the balancing charge, those allowances so used shall not be treated as an amount of specified relief under this Chapter, and

(ii) any unrelieved allowance, or part of an allowance, carried forward from a previous tax year in accordance with section 304(4) to which effect is given in the tax year,

(6) Any claim for a farm buildings allowance to be made to a person under this section shall be included in the annual statement required to be delivered by the person under the Income Tax Acts of the profits or gains from farming, and section 304(4) shall apply in relation to the allowance as it applies in relation to allowances to be made under Part 9.

(5) Any claim by a person for a farm pollution control allowance to be made to such person shall be included in the annual statement required to be delivered under the Income Tax Acts of the profits or gains from farming, and section 304(4) shall apply in relation to the allowance as it applies in relation to allowances to be made under Part 9.

(b) section 304(4) or that section as applied by any other provision of the Income Tax Acts shall not apply as respects a capital allowance or part of a capital allowance which is or is deemed to be all or part of a capital allowance for the relevant year and to which full effect has not been given in that year because there were no profits or gains chargeable for that year or there was an insufficiency of profits or gains chargeable for that year,

(6) A mine development allowance to any person carrying on the trade of working a mine shall be made in taxing that trade, and section 304(4) shall apply in relation to the allowance as it applies in relation to allowances to be made under Part 9.

(7) Section 304(4) shall apply in relation to an allowance under subsection (2) as it applies in relation to allowances to be made under Part 9.

(9) An allowance under this section made to a person who is carrying on a trade of working a mine shall be made in taxing that trade, and section 304(4) shall apply in relation to an allowance under subsection (4) as it applies in relation to allowances to be made under Part 9.

(9) Section 304(4) shall apply in relation to an allowance under this section as it applies in relation to an allowance to be made under Part 9.

(5) Section 304(4) shall apply in relation to an allowance under subsection (1) or (2) as it applies in relation to allowances to be made under Part 9.

(3) Section 304(4) shall apply in relation to an allowance under subsection (1) as it applies in relation to an allowance to be made under Part 9.