Finance (Covid-19 and Miscellaneous Provisions) Act 2021
Acts of the Oireachtas
Source: Acts of the Oireachtas

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paragraphs: In this Act—
“Act of 1997” means the Taxes Consolidation Act 1997 ;
“Act of 1999” means the Stamp Duties Consolidation Act 1999 ;
“Act of 2010” means the Value-Added Tax Consolidation Act 2010 ;
“Act of 2020” means the Emergency Measures in the Public Interest (Covid-19) Act 2020 .
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paragraphs: (1) Section 28B of the Act of 2020 is amended—
(a) in subsection (1), by the substitution of the following definition for the definition of “qualifying period”:
“‘qualifying period’ means the period commencing on 1 July 2020 and expiring on 31 December 2021 or on such later day than 31 December 2021 as the Minister may specify in an order made by him or her under subsection (21)(a);”,
(b) in subsection (2A)—
(i) by the substitution of “the period from 1 January 2021 to 30 June 2021 (in this subsection referred to as ‘the second specified period’)” for “the period from 1 January 2021 to the date on which the qualifying period expires”, and
(ii) in paragraph (a)(i)(I), by the substitution of “in the second specified period” for “in the period from 1 January 2021 to 30 June 2021 (in this subsection referred to as ‘the second specified period’)”,
(c) by the insertion of the following subsection after subsection (2A):
“(2B) Subject to subsections (4) and (5), this section shall apply to an employer for the period from 1 July 2021 to the date on which the qualifying period expires where—
(a) (i) in accordance with guidelines published by the Revenue Commissioners under subsection (20)(a), the employer demonstrates to the satisfaction of the Revenue Commissioners that, by reason of Covid-19 and the disruption that is being caused thereby to commerce—
(I) there will occur in the period from 1 January 2021 to 31 December 2021 (in this subsection referred to as ‘the third specified period’) at least a 30 per cent reduction, or such other percentage reduction as the Minister may specify in an order made by him or her under subsection (21)(b), in either the turnover of the employer’s business or in the customer orders being received by the employer by reference to the period from 1 January 2019 to 31 December 2019 (in this subsection referred to as ‘the third corresponding period’),
(II) in the case where the business of the employer has not operated for the whole of the third corresponding period but the commencement of that business’s operation occurred no later than 1 November 2019, there will occur in the part of the third specified period, which corresponds to the part of the third corresponding period in which the business has operated, at least a 30 per cent reduction, or such other percentage reduction as the Minister may specify in an order made by him or her under subsection (21)(b), in either the turnover of the employer’s business or in the customer orders being received by the employer by reference to that part of the third corresponding period, or
(III) in the case where the commencement of the operation of the employer’s business occurred after 1 November 2019, the nature of the business is such that the turnover of the employer’s business or the customer orders being received by the employer in the third specified period will be at least—
(A) 30 per cent, or
(B) such other percentage as the Minister may specify in an order made by him or her under subsection (21)(b),
less than what that turnover or those customer orders, as the case may be, would otherwise have been had there been no disruption caused to the business by reason of Covid-19,
or
(ii) the employer’s name is entered in the register established and maintained under section 58C of the Child Care Act 1991 ,
and
(b) the employer satisfies the conditions specified in subsection (3).”,
(d) in subsection (3), by the substitution of “subsection (2)(b), (2A)(b) or (2B)(b)” for “subsection (2)(b) or (2A)(b)”,
(e) in subsection (5)—
(i) by the substitution of “by virtue of subsection (2) (apart from paragraph (a)(ii) thereof), (2A) (apart from paragraph (a)(ii) thereof) or (2B) (apart from paragraph (a)(ii) thereof)” for “by virtue of subsection (2) (apart from paragraph (a)(ii) thereof) or (2A) (apart from paragraph (a)(ii) thereof)”, and
(ii) in paragraph (b), by the substitution of “subsection (2)(a)(i), (2A)(a)(i) or (2B)(a)(i)” for “subsection (2)(a)(i) or (2A)(a)(i)”,
(f) in subsection (8), by the substitution of “30 September 2021” for “31 January 2021” in both places where it occurs,
(g) in subsection (17), by the substitution of “subsection (2), (2A) or (2B)” for “subsection (2) or (2A)” in both places where it occurs,
(h) in subsection (20)(a), by the substitution of “subsection (2), (2A) or (2B)” for “subsection (2) or (2A)”, and
(i) in subsection (21)—
(i) in paragraph (a)—
(I) by the substitution of “31 December 2021” for “31 March 2021”, and
(II) by the substitution of “30 June 2022” for “30 June 2021”,
and
(ii) in paragraph (b), by the substitution of “subsection (2)(a)(i), (2A)(a)(i) or (2B)(a)(i)” for “subsection (2)(a)(i) or (2A)(a)(i)”.
(2) Subsection (1) shall be deemed to have come into operation on 1 April 2021.
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paragraphs: (1) Section 484 of the Act of 1997 is amended in subsection (2)(a)(ii) by the substitution of “30 September 2021” for “31 March 2021”.
(2) Subsection (1) shall be deemed to have come into operation on 1 April 2021.
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paragraphs: (1) Section 485 of the Act of 1997 is amended—
(a) in subsection (1)—
(i) in paragraph (d) of the definition of “Covid restrictions period end date”, by the substitution of “the date on which the specified period shall expire” for “31 March 2021”, and
(ii) in the definition of “specified period”, by the substitution of “30 September 2021” for “31 March 2021”,
(b) in subsection (2)(b)(iv), by the substitution of “the date on which the specified period shall expire” for “31 March 2021”,
(c) in subsection (3)(b), by the substitution of “30 September 2021” for “31 March 2021”,
(d) in subsection (7)—
(i) in paragraph (a)(i)(I), by the insertion of “or, where the claim relates to a period specified in subsection (8)(b)(ii)(I) or (II) or to any full week falling within the period beginning on 5 July 2021 and ending on 18 July 2021, 20 per cent,” after “10 per cent”,
(ii) in paragraph (a)(i)(II), by the insertion of “or, where the claim relates to a period specified in subsection (8)(b)(ii)(I) or (II) or to any full week falling within the period beginning on 5 July 2021 and ending on 18 July 2021, 10 per cent,” after “5 per cent”,
(iii) in paragraph (a)(ii)(I), by the insertion of “or, where the claim relates to a period specified in subsection (8)(b)(ii)(I) or (II) or to any full week falling within the period beginning on 5 July 2021 and ending on 18 July 2021, 20 per cent,” after “10 per cent”,
(iv) in paragraph (a)(ii)(II), by the insertion of “or, where the claim relates to a period specified in subsection (8)(b)(ii)(I) or (II) or to any full week falling within the period beginning on 5 July 2021 and ending on 18 July 2021, 10 per cent,” after “5 per cent”, and
(v) in paragraph (b), by the insertion of “or, where the claim relates to a period specified in subsection (8)(b)(ii)(II), €10,000 per week” after “€5,000 per week”,
and
(e) in subsection (8), by the substitution of the following paragraph for paragraph (b):
“(b) (i) Where no part of the week immediately following the date on which the applicable business restrictions provisions ceased to be in operation in respect of a relevant business activity (referred to in this paragraph as the ‘restart week’) would otherwise form part of a Covid restrictions period or a Covid restrictions extension period, a qualifying person to whom paragraph (a) applies may elect to treat a period specified in any of clauses (I) to (III) of subparagraph (ii) as a Covid restrictions extension period and may make a claim under this section in respect of that period.
(ii) The period that a qualifying person may elect to treat as a Covid restrictions extension period for the purposes of subparagraph (i) shall be—
(I) in a case where the restart week commences on or after 29 April 2021 and before 2 June 2021, a period of 2 weeks from the date on which the restart week commences,
(II) in a case where the restart week commences on or after 2 June 2021 and before the date on which the specified period shall expire and the qualifying person has not elected to treat a period specified in clause (I) or this clause as a Covid restrictions extension period for the purposes of a claim under this section in respect of the relevant business activity concerned, a period of 3 weeks from the date on which the restart week commences, and
(III) in all other cases, a period of one week from the date on which the restart week commences.”.
(2) Subsection (1) shall be deemed to have come into operation—
(a) as respects paragraphs (a) to (c) thereof, on 1 April 2021, and
(b) as respects paragraphs (d) and (e) thereof, on 29 April 2021.
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paragraphs: The Act of 1997 is amended—
(a) by the insertion of the following section after section 485:
“Business Resumption Support Scheme
485A. (1) In this section—
‘application period’ means the period commencing on 1 September 2021 and ending on 30 November 2021;
‘approved body of persons’ has the same meaning as in section 235;
‘chargeable period’ has the same meaning as in section 321(2);
‘charity’ has the same meaning as in section 208;
‘partnership trade’ has the same meaning as in section 1007;
‘precedent partner’, in relation to a partnership and a partnership trade, has the same meaning as in section 1007;
‘relevant business activity’ means, subject to subsection (2), a trade carried on by a person either solely or in partnership;
‘specified period’ means the period commencing on 1 September 2020 and ending on 31 August 2021;
‘tax’ means income tax or corporation tax;
‘tax reference number’ has the same meaning as in section 885;
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paragraphs: Section 46 of the Act of 2010 is amended in subsection (1)(cb) by the substitution of “31 August 2022” for “31 December 2021”.
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paragraphs: The Act of 2020 is amended by the insertion of the following section after section 28C:
“Covid-19: special warehousing and interest (relevant tax due under section 28B(11))
28D. (1) In this section—
‘the Acts’ has the same meaning as it has in section 28C;
‘Covid-19 relevant tax’ means relevant tax, as referred to in subsection (12) of section 28B, due and payable during Period 1 in accordance with that subsection;
‘Period 1’, in relation to an employer, means the period beginning on 1 July 2020 and ending on 31 December 2021;
‘Period 2’, in relation to an employer, means the period beginning on 1 January 2022 and ending on 31 December 2022;
‘Period 3’, in relation to an employer, means the period beginning on 1 January 2023 and ending on the day on which the employer has discharged the employer’s liability in respect of the Covid-19 relevant tax in full.
(2) This section shall apply to an employer—
(a) who, as a consequence of the effect on the employer’s business of Covid-19 is unable to pay all or part of the employer’s liability in respect of Covid-19 relevant tax,
(b) who complies with the requirements under Chapter 4 of Part 42 of the Taxes Consolidation Act 1997 and this Part, and
(c) either—
(i) the employer’s tax affairs are administered by the Personal Division or Business Division of the Office of the Revenue Commissioners, or
(ii) the employer has formed the view that the employer is unable to pay all or part of the employer’s liability in respect of Covid-19 relevant tax and has notified the Revenue Commissioners that the employer has formed such a view.
(3) For the purposes of subsection (2)(c)(i), an employer’s tax affairs shall be treated as being administered by the Personal Division or Business Division of the Office of the Revenue Commissioners where the most recent correspondence received by the employer from that Office indicates that to be the case.
(4) An officer authorised under section 990 of the Taxes Consolidation Act 1997 may make such enquiries as he or she considers necessary to satisfy himself or herself as to whether an employer is unable to pay the employer’s liability in respect of Covid-19 relevant tax.
(5) Where this section applies to an employer, section 28B(15) shall not apply to the employer’s liability in respect of Covid-19 relevant tax.
(6) Where—
(a) this section applies to an employer, and
(b) the employer complies with the employer’s obligations under the Acts,
no interest shall be due and payable by the employer in relation to the employer’s liability in respect of Covid-19 relevant tax during Period 1 and Period 2.
(7) Where—
(a) this section applies to an employer,
(b) the employer complies with the employer’s obligations under the Acts,
(c) the employer has, prior to Period 3, entered into an agreement with the Collector-General to pay the employer’s liability in respect of Covid-19 relevant tax, together with interest under this subsection, and
(d) the employer complies with the obligations of the employer under the agreement referred to in paragraph (c),
from the first day of Period 3 simple interest shall be paid by the employer to the Revenue Commissioners in relation to any amount of the Covid-19 relevant tax remaining unpaid and such interest shall be calculated from that day until payment of the amount for any day or part of a day during which that amount remains unpaid, at a rate of 0. 0082 per cent.
(8) Where an employer—
(a) during Period 1 or Period 2, fails to comply with an obligation referred to in subsection (6)(b),
(b) on the first day of Period 3, has not entered into an agreement referred to in subsection (7)(c), or
(c) during Period 3, fails to comply with an obligation referred to in subsection (7)(b) or (d),
simple interest shall be paid by the employer to the Revenue Commissioners in relation to any amount of the Covid-19 relevant tax remaining unpaid from—
(i) in a case in which paragraph (a) or (c) applies, the date on which the event resulting in failure to comply with the obligation concerned occurred, and
(ii) in a case in which paragraph (b) applies, the first day of Period 3,
and such interest shall be calculated from that day until payment of the amount for any day or part of a day during which that amount remains unpaid, at a rate of 0. 0219 per cent.
(9) Where an employer has complied with the requirements under Chapter 4 of Part 42 of the Taxes Consolidation Act 1997 and this Part, the failure of the employer to pay Covid-19 relevant tax shall not, for the purpose of section 1094 or 1095 of the Taxes Consolidation Act 1997 , be treated as a failure to comply with the obligations imposed on the employer by the Acts (within the meaning of section 1094 or 1095, as the case may be).
(10) Section 960E(2) of the Taxes Consolidation Act 1997 shall not apply in respect of Covid-19 relevant tax where the employer concerned complies with the employer’s requirements under Chapter 4 of Part 42 of the Taxes Consolidation Act 1997 and this Part.”.
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paragraphs: Section 28C of the Act of 2020 is amended—
(a) in subsection (1)—
(i) in paragraph (a) of the definition of “the Acts”, by the insertion of “of the Taxes Consolidation Act 1997 ” after “Parts 18C and 18D”,
(ii) in the definition of “Period 1”, by the substitution of the following paragraph for paragraph (b):
“(b) ending on 31 December 2021;”,
(iii) by the substitution of the following definition for the definition of “Period 2”:
“‘Period 2’, in relation to an employer, means the period beginning on 1 January 2022 and ending on 31 December 2022;”,
(iv) by the substitution of the following definition for the definition of “Period 3”:
“‘Period 3’, in relation to an employer, means the period beginning on 1 January 2023 and ending on the day on which the employer has discharged the employer’s liability in respect of the Covid-19 relevant tax in full.”,
and
(v) by the deletion of the definitions of “recommencement date” and “taxable period”,
and
(b) by the deletion of subsection (11).
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paragraphs: Section 991B of the Act of 1997 is amended—
(a) in subsection (1)—
(i) in the definition of “Covid-19 liabilities”, by the substitution of “subsection (14)” for “subsections (14) and (15)”,
(ii) in the definition of “Period 1”, by the substitution of the following paragraph for paragraph (b):
“(b) ending on 31 December 2021;”,
(iii) by the substitution of the following definition for the definition of “Period 2”:
“‘Period 2’, in relation to an employer, means the period beginning on 1 January 2022 and ending on 31 December 2022;”,
(iv) by the substitution of the following definition for the definition of “Period 3”:
“‘Period 3’, in relation to an employer, means the period beginning on 1 January 2023 and ending on the day on which the employer has discharged the Covid-19 liabilities in full.”,
and
(v) by the deletion of the definitions of “recommencement date” and “taxable period”,
(b) in subsection (14), by the insertion of “or annually” after “quarterly”, and
(c) by the deletion of subsections (15) and (16).
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paragraphs: Section 1080B of the Act of 1997 is amended—
(a) in subsection (1)—
(i) in the definition of “Period 1”—
(I) by the deletion of “, subject to subsection (6),” and
(II) by the substitution of the following paragraph for paragraph (b):
“(b) ending on 31 December 2021;”,
(ii) by the substitution of the following definition for the definition of “Period 2”:
“‘Period 2’, in relation to a relevant person, means the period beginning on 1 January 2022 and ending on 31 December 2022;”,
and
(iii) by the substitution of the following definition for the definition of “Period 3”:
“‘Period 3’, in relation to a relevant person, means the period beginning on 1 January 2023 and ending on the day on which the relevant person has discharged the Covid-19 income tax in full;”,
(b) in subsection (3), by the insertion of “due and payable on the date on which Period 1 begins” after “the relevant person’s Covid-19 income tax”, and
(c) in subsection (4), by the insertion of “due and payable on the date on which Period 1 begins” after “the relevant person’s Covid-19 income tax”.
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paragraphs: Section 114B of the Act of 2010 is amended—
(a) in subsection (1)—
(i) in the definition of “Period 1”, by the substitution of the following paragraph for paragraph (b):
“(b) ending on 31 December 2021;”,
(ii) by the substitution of the following definition for the definition of “Period 2”:
“‘Period 2’, in relation to an accountable person, means the period beginning on 1 January 2022 and ending on 31 December 2022;”,
(iii) by the substitution of the following definition for the definition of “Period 3”:
“‘Period 3’, in relation to an accountable person, means the period beginning on 1 January 2023 and ending on the day on which the accountable person has discharged the Covid-19 liabilities in full.”,
and
(iv) by the deletion of the definition of “recommencement date”,
and
(b) by the deletion of subsection (15).
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paragraphs: Section 17C of the Social Welfare Consolidation Act 2005 is amended—
(a) in subsection (1)—
(i) in the definition of “Covid-19 liabilities”, by the substitution of “subsection (13)” for “subsections (13) and (14)”,
(ii) in the definition of “Period 1”, by the substitution of the following paragraph for paragraph (b):
“(b) ending on 31 December 2021;”,
(iii) by the substitution of the following definition for the definition of “Period 2”:
“‘Period 2’, in relation to an employer, means the period beginning on 1 January 2022 and ending on 31 December 2022;”,
(iv) by the substitution of the following definition for the definition of “Period 3”:
“‘Period 3’, in relation to an employer, means the period beginning on 1 January 2023 and ending on the day on which the employer has discharged the Covid-19 liabilities in full.”,
and
(v) by the deletion of the definitions of “recommencement date” and “taxable period”,
(b) in subsection (13), by the insertion of “or annually” after “quarterly”, and
(c) by the deletion of subsections (14) and (15).
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paragraphs: The Act of 1999 is amended—
(a) by the insertion of the following section after section 31D:
“Stamp duty on certain acquisitions of residential property
31E. (1) In this section—
‘Act of 1997’ means the Taxes Consolidation Act 1997 ;
‘apartment block’ means a multi-storey residential property that comprises, or will comprise, not less than 3 apartments with grouped or common access;
‘arrangement’ includes any agreement, understanding, scheme, transaction or series of transactions;
‘connected’ shall be construed in accordance with section 10 of the Act of 1997;
‘relevant residential unit’ shall be construed in accordance with subsection (5);
‘residential unit’ means residential property situated in the State comprising an individual dwelling.
(2) Subject to subsection (3), for the purposes of this section, a person shall be treated as acquiring a residential unit—
(a) in the case of a conveyance or transfer on sale of the residential unit, on the date of execution of the conveyance or transfer, as the case may be,
(b) in the case of a lease in respect of the residential unit for a definite term exceeding 35 years, on the date of execution of the lease,
(c) in the case of an instrument, referred to in section 29(2), effecting the sale of land on which the residential unit has been built or is in the course of being built, on the date of execution of the instrument,
(d) in the case of a conveyance or transfer, referred to in section 30(1), operating as a voluntary disposition inter vivos of the residential unit, on the date of execution of the conveyance or transfer, as the case may be,
(e) in the case of a contract or agreement, referred to in section 31(1), for the sale of any equitable estate or interest in the residential unit, on the date of execution of the contract or agreement, as the case may be,
(f) in the case of an instrument, referred to in section 33(1), whereby the residential unit is conveyed or transferred in contemplation of a sale of the residential unit, on the date of execution of the instrument, and
(g) in the case of an instrument, referred to in section 37, effecting a conveyance or transfer of the residential unit in exchange for any other property, on the date of execution of the instrument.
(3) Where the acquisition of a residential unit is effected by more than one instrument referred to in subsection (2), the residential unit shall be treated as being acquired on the earliest to occur of the dates on which, under that subsection, it is so treated as being acquired.
(4) In this section, a reference to acquisition shall include a reference to acquisition by way of a conveyance, transfer, lease, instrument, contract or agreement referred to in subsection (2).
(5) Where—
(a) a person (in this subsection and subsection (6) referred to as the ‘first-mentioned person’) acquires a residential unit on or after 20 May 2021, and
(b) the total of—
(i) the residential units acquired by the first-mentioned person or a person connected with that person in the 12 months immediately preceding the day on which the residential unit referred to in paragraph (a) is acquired (in this subsection referred to as the ‘relevant day’),
(ii) the residential unit referred to in paragraph (a), and
(iii) any other residential units acquired by the first-mentioned person or a person connected with that person on the relevant day,
is greater than or equal to 10 residential units,
each of the residential units comprised in that total shall be a relevant residential unit.
(6) For the purposes of subsection (5), in a case in which the first-mentioned person or a person connected with the first-mentioned person referred to in subsection (5)(b)(i) or (iii) is an individual, no account shall be taken of the residential units acquired by the connected person where—
(a) the first-mentioned person and the connected person are not acting in concert in relation to the acquisition of those units, and
(b) the acquisition of any of those units is not part of an arrangement, one of the main purposes of which is to avoid the unit being a relevant residential unit.
(7) For the purposes of subsection (5), no account shall be taken ofa residential unit in an apartment block.
(9) This subsection applies to—
(a) stocks or marketable securities in a company (within the meaning of section 4 of the Act of 1997),
(b) units (within the meaning of section 88(1)(a)) in an IREF (within the meaning of section 31C), or
(c) interests in a partnership, being a partner’s share or interest in a partnership,
that derive value, directly or indirectly, from a residential unit.
(10) For the purposes of subsection (9), the reference to deriving value indirectly from a residential unit shall include value that is derived from other stocks, marketable securities, units or interests, as the case may be, to which that subsection applies.
(11) In calculating the part of the value of the stocks, marketable securities, units or interests, as the case may be, that is derived, directly or indirectly, from a residential unit for the purposes of subsection (9)—
(a) account shall not be taken of any arrangement—
(i) that involves a transfer of money or other assets, apart from a residential unit, from a person who is connected with the company, IREF or partnership, as the case may be, in which those stocks, marketable securities, units or interests are held,
(ii) that is made before a conveyance or transfer on sale of stocks, marketable securities, units or interests to which subsection (9) applies, and
(iii) the main purpose, or one of the main purposes, of which is the avoidance of liability to any tax or duty, and
(b) regard shall be had to the market value of the residential unit from which the value is derived.
(12) Where—
(a) there exists a conveyance or transfer on sale of stocks, marketable securities, units or interests to which subsection (9) applies, and
(b) such conveyance or transfer on sale results in a change in the person or persons having direct or indirect control over the residential unit concerned,
the conveyance or transfer on sale concerned shall be chargeable to stamp duty—
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paragraphs: (1) Section 31E of the Act of 1999 (as inserted by section 13 ) is amended—
(a) in subsection (1), by the insertion of the following definitions:
“‘Act of 1992’ means the Housing (Miscellaneous Provisions) Act 1992 ;
‘Act of 2009’ means the Housing (Miscellaneous Provisions) Act 2009 ;
‘household’ has the same meaning as it has in the Act of 2009;
‘housing authority’ has the same meaning as it has in the Act of 1992;
‘housing authority lease’ means a lease entered into by a housing authority under section 19 of the Act of 2009;
‘qualified household’ means a household that has been determined, in accordance with a social housing assessment, to be qualified for social housing support;
‘social housing assessment’ has the same meaning as it has in the Act of 2009;
‘social housing support’ has the same meaning as it has in the Act of 2009.”,
and
(b) by the insertion of the following subsection after subsection (7):
“(8) Where—
(a) a person acquires, on or after the day after the date of the passing of the Finance (Covid-19 and Miscellaneous Provisions) Act 2021, a residential unit by way of a conveyance or transfer on sale of the residential unit,
(b) on the same day as the residential unit is acquired by the person, the person enters into a housing authority lease in respect of the residential unit, and
(c) the lease is entered into by the housing authority for the purpose of the provision of social housing support to a qualified household,
for the purposes of subsection (5), no account shall be taken of the residential unit.”.
(2) Subsection (1) shall come into operation on the day after the date of the passing of this Act.
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paragraphs: (1) The Act of 1999 is amended by the insertion of the following section after section 83D:
“83E. (1) In this section—
‘Act of 1992’ means the Housing (Miscellaneous Provisions) Act 1992 ;
‘approved housing body’ means a body approved of or standing approved of, under, or for the purposes of, section 6 of the Act of 1992;
‘housing authority’ has the same meaning as it has in the Act of 1992;
‘Minister’ means the Minister for Housing, Local Government and Heritage;
‘qualifying date’ means the date on which a qualifying lease is executed;
‘qualifying lease’ means a lease, for a term of not less than 10 years, in respect of a relevant residential unit entered into with a housing authority or an approved housing body for the purpose of the provision of social housing support;
‘qualifying relevant residential unit’ has the meaning assigned to it by subsection (3);
‘relevant instrument’ means an instrument executed on or after 20 May 2021 that has been stamped in accordance with—
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paragraphs: This Act may be cited as the Finance (Covid-19 and Miscellaneous Provisions) Act 2021.