Revenue Note for Guidance

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Revenue Note for Guidance

CHAPTER 2

Temple Bar Area

Overview

This Chapter provided for a scheme of tax reliefs designed to encourage the renewal and development of the Temple Bar Area of Dublin. Provision was made —

  • in section 331, for accelerated capital allowances in respect of capital expenditure incurred on the construction or refurbishment of certain industrial buildings or structures,
  • in section 332, for a scheme of capital allowances in respect of capital expenditure incurred on the construction or refurbishment of certain commercial premises,
  • in section 333, for a double rent allowance in computing trading or professional income in respect of rent paid for the lease of certain industrial buildings or structures and certain commercial premises,
  • in sections 334, 335 and 336, respectively, for relief against rental income in respect of expenditure incurred on the construction of certain rented residential accommodation, the conversion of certain buildings into such accommodation and the refurbishment of multi-dwelling rented residential accommodation, and
  • in section 337, for relief to owner-occupiers in respect of expenditure incurred on the construction or refurbishment of certain residential accommodation.
  • in section 338, for measures which were supplementary to sections 334, 335, 336 and 337.

The scheme is now terminated, in so far as the termination date for incurring qualifying expenditure or entering into qualifying leases has passed. However, claims in relation to qualifying expenditure incurred, or rent paid under qualifying leases entered into, before the termination date may continue to arise.

As part of the codification of legislation governing relief, under various tax incentive schemes, for expenditure incurred in relation to residential accommodation sections 334, 335, 336, 337 and 338 were repealed by section 24(3) Finance Act 2002. However, a saving provision in relation to these sections, which preserves title to relief for existing beneficiaries and Revenue’s right to withdraw relief in appropriate circumstances, is contained in Chapter 11 of this Part in section 372AV.

330 Interpretation (Chapter 2)

Summary

This section is the interpretation section for the Chapter. It defines the Temple Bar Area by reference to the area described in Schedule 6. The reliefs applicable in the Temple Bar Area are granted only in respect of buildings or premises which are approved for the purposes of the Chapter by Temple Bar Renewal Limited. The qualifying period for the scheme of reliefs was from 6 April, 1991 to 5 April, 1999, except in the case of sections 334 to 336 where it was from 30 January, 1991 to 5 April, 1999. This period was extended to 31 December, 1999 in the case of residential projects where Dublin Corporation certified that at least 50 per cent of the total cost of such projects was incurred by 5 April, 1999.

Details

Definitions

(1) “qualifying period” is the period from 6 April, 1991, except in the case of sections 334 to 336 (which provided relief against rental income for expenditure incurred on the provision of certain rented residential accommodation) where it was the period from 30 January, 1991, to —

  1. 5 April, 1999, or
  2. 31 December, 1999, in the case only of sections 334 to 337 (inclusive) where Dublin Corporation certified that at least 50 per cent of the total cost of the project was incurred by 5 April, 1999.

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

(1) & (4) “the Temple Bar Area” is the area described in Schedule 6, and that Schedule applies for the purposes of supplementing this Chapter.

Buildings or premises must be approved by Temple Bar Renewal Ltd

(2) In order for relief to apply in respect of capital or other expenditure incurred or rent payable in relation to any building or premises in the Temple Bar Area, Temple Bar Renewal Ltd (the company which is the supervisory body as to the appropriate standards of construction and refurbishment works carried out in Temple Bar) must approve the buildings or premises for the purposes of this Chapter.

Apportionment

(3) Total expenditure on a building or structure may be apportioned as between business and residential parts to enable the amounts of relief applicable to the respective parts to be calculated.

Relevant Date: Finance Act 2021