Revenue Precedent

The content shown on this page describes precedents set by Revenue judgements. To view the section of legislation to which the precedents apply, click the link below:

Revenue Precedents

If a racecourse stand, which qualifies for capital allowances as plant, is leased can excess allowances be set against other income? No, such allowances are restricted by section 403 (5) TCA 1997. GD95062

Where some unexpected event occurs so that plant and equipment provided for use in a specified trade is destroyed or otherwise cannot be used necessitating its replacement before the 3 year period required by section 403(9) has expired ,will this be regarded as a breach of the undertaking given for the purposes of that section? In the circumstances it is agreed that such an occurance will not be treated as a breach of this undertaking. The key issue is that the machinery is not used for any non-qualifying purpose. DTX 5063/94