Finance Act, 1981
Acts of the Oireachtas
Source: Acts of the Oireachtas

num: 1
paragraphs: —As respects the year 1981-82 and subsequent years of assessment, the Finance Act, 1980 , is hereby amended—
(a) in section 1—
(i) in paragraph (b) of subsection (1), by the substitution of “a sum equal to twice the specified amount” for “£5,000”, and
(ii) in subsection (2), by the substitution of “£4,000” for “£3,400” and of “£2,000” for “£1,700”,
and
(b) in section 2—
(i) in subsection (3), by the substitution of “a sum equal to twice the specified amount” for “£10,000”, and
(ii) in subsection (6), by the substitution of “£4,600” for “£4,000”, of “£5,600” for “£5,000”, of “£2,300” for “£2,000” and of “£2,800” for “£2,500”, and the said paragraph (b) and the said subsections (2), (3) and (6), as so amended, are set out in the Table to this section.
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(b) an individual makes a claim for the purpose, makes a return in the prescribed form of his total income for that year and proves that it does not exceed a sum equal to twice the specified amount, he shall be entitled to have the amount of income tax payable in respect of his total income for that year, if that amount would, but for the provisions of this subsection, exceed a sum equal to 60 per cent. of the amount by which his total income exceeds the specified amount, reduced to that sum.
(2) In this section “the specified amount” means—
(a) in a case where the individual would, apart from this section, be entitled to a deduction specified in section 138 (a) of the Income Tax Act, 1967 , £4,000, and
(b) in any other case, £2,000.
(3) Where an individual to whom this section applies proves that his total income for a year of assessment for which this section applies does not exceed a sum equal to twice the specified amount, he shall be entitled to have the amount of income tax payable in respect of his total income for that year, if that amount would, but for the provisions of this subsection, exceed a sum equal to 60 per cent, of the amount by which his total income exceeds the specified amount, reduced to that sum.
(6) In this section “the specified amount” means—
(a) in a case where the individual would, apart from this section, be entitled to a deduction specified in paragraph (a) of the said section 138, £4,600:
Provided that, if at any time during the year of assessment either the individual or his spouse was of the age of seventy-five years or upwards, “the specified amount” means £5,600;
(b) in any other case, £2,300:
Provided that, if at any time during the year of assessment the individual was of the age of seventy-five years or upwards, “the specified amount” means £2,800.
num: 2
paragraphs: —(1) Where a deduction falls to be made from the total income of an individual for the year 1981-82 or any subsequent year of assessment in respect of relief to which the individual is entitled under a provision mentioned in column (1) of the Table to this subsection and the amount of the deduction would, but for this section, be an amount specified in column (2) of the said Table, the amount of the deduction shall, in lieu of being the amount specified in the said column (2), be the amount specified in column (3) of the said Table opposite the mention of the amount in the said column (2).
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Statutory provision
Amount to be deducted from total income for 1980-81
Amount to be deducted from total income for 1981-82 and subsequent years
(1)
(2)
(3)
Income Tax Act, 1967 :
£
£
section 138A
(additional allowance for widows and others in respect of children)
500
650
section 138B
(employee allowance)
400
600
section 141
(incapacitated child)
390
500
Finance Act, 1969 :
section 3
(housekeeper taking care of incapacitated person)
330
500
Finance Act, 1971 :
section 11
(blind person)
330
400
(both spouses blind)
660
1,000
(2) Section 4 of the Finance Act, 1980 , shall have effect subject to the provisions of this section.
num: 3
paragraphs: — Section 8 of the Finance Act, 1980 , is hereby amended, as respects the year 1981-82 and subsequent years of assessment, by the substitution of the following Table for the Table to the said section:
“TABLE
PART I
Part of taxable income
Rate of tax
Description of rate
(1)
(2)
(3)
The first £1,000
25 per cent.
the reduced rate
The next £4,500
35 per cent.
the standard rate
The next £2,000
45 percent.
the higher rates
The next £2,000
55 per cent.
The remainder
60 per cent.
PART II
Part of taxable income
Rate of tax
Description of rate
(1)
(2)
(3)
The first £2,000
25 per cent.
the reduced rate
The next £9,000
35 per cent.
the standard rate
The next £4,000
45 percent.
the higher rates
The next £4,000
55 per cent.
The remainder
60 per cent.
”
num: 4
paragraphs: — Section 128 of the Income Tax Act, 1967 , is hereby amended—
(a) in subsection (2), by the substitution for “All penalties under this section” of “All penalties for failure to comply with any provision of regulations under this Chapter”,
(b) in subsection (3)—
(i) by the substitution of the following paragraph for paragraph (a):
“(a) a person fails to comply with any provision of regulations under this Chapter,”,
and
(ii) by the substitution of the following paragraph for paragraph (c):
“(c) such person continues, during a further period of two or more days, to fail to comply with the provision,”,
and
(c) in paragraph (a) of subsection (4)—
(i) by the insertion after “defendant” where it first occurs of “or stated wages sheets or other records or documents were not produced by the defendant or the defendant did not remit stated tax to the collector or did not make a stated deduction or repayment of tax”, and
(ii) by the insertion after “or certificate” at the end of the paragraph of “or did not produce those wages sheets or other records or documents or did not remit that tax to the collector or did not make that deduction or repayment of tax”,
and the said subsection (2) and the said paragraph (a) of subsection (4), as so amended, are set out in the Table to this section.
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(2) All penalties for failure to comply with any provision of regulations under this Chapter may, without prejudice to any other method of recovery, be proceeded for and recovered summarily in the same manner as in summary proceedings for recovery of any fine or penalty under any Act relating to the excise.
(a) a certificate signed by an officer of the Revenue Commissioners which certifies that he has inspected the relevant records of the Revenue Commissioners and that it appears from them that, during a stated period, a stated return, statement, notification or certificate was not received from the defendant or stated wages sheets or other records or documents were not produced by the defendant or the defendant did not remit stated tax to the collector or did not make a stated deduction or repayment of tax shall be evidence until the contrary is proved that the defendant did not during that period send that return, statement, notification or certificate or did not produce those wages sheets or other records or documents or did not remit that tax to the collector or did not make that deduction or repayment of tax,
num: 5
paragraphs: — Section 198 (1) of the Income Tax Act, 1967 (inserted by the Finance Act, 1980 ) is hereby amended by the insertion, after paragraph (a), of the following paragraph:
“(aa) any reduction of income tax which falls to be made under section 1 (1) (b) or 2 (3) of the Finance Act, 1980 , shall be allocated to the husband and the wife in proportion to the amounts of income tax which, but for the said section 1 (1) (b) or 2 (3), would have been payable by the husband 5 and by the wife,”.
num: 6
paragraphs: —(1) In this section—
“relevant payment” means any sum paid on or after the 6th day of April, 1981, by the Minister for the Environment to an individual under a scheme providing for the payment of a special mortgage subsidy to first-time owner-occupiers of certain houses;
“specified loan or loans” means a loan or loans in relation to which a relevant payment is made;
“relevant tax repayment”, in relation to an individual, means, subject to subsection (3), the amount of tax which, apart from this section, would fall to be repaid to the individual under the provisions (hereafter in this section referred to as “the relevant provisions”) of section 496 of the Income Tax Act, 1967 , for a year of assessment on the amount of interest paid on a specified loan or loans by the individual in the year of assessment.
(2) Where, for any year of assessment, in the case of an individual, a relevant tax repayment would fall to be made, that relevant tax repayment shall be reduced by the amount determined by the formula set out in the Table to this subsection, and notwithstanding any other provisions of the Income Tax Acts, the amount of tax as so reduced, and no other amount of tax, shall be repaid under the relevant provisions to the individual on the amount of interest paid by him in the year of assessment on a specified loan or loans.
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(R + S) − P
where—
R is the relevant tax repayment,
S is the aggregate amount of any relevant payments made to the individual in the year of assessment or the amount of any relevant payment made to the individual where only one such payment was made in the year of assessment, and
P is—
(a) an amount equal to (R + S), or
(b) the amount of any payment, or the aggregate amount of any payments where more than one payment was made, made by the individual in the year of assessment by way of repayment of the principal of any specified loan or loans or by way of payment of interest on any specified loan or loans,
whichever is the less.
(3) For the purposes of this section, in the case of an individual who, in the year of assessment, in addition to interest on a specified loan or loans, has paid other interest, the amount of the relevant tax repayment shall be the amount determined by the formula—
A − B
where—
A is the amount of tax which, apart from this section, would fall to be repaid to the individual for the year of assessment under the relevant provisions on all interest paid by him in the year of assessment, and
B is the amount of tax which would fall to be repaid to the individual for the year of assessment under the relevant provisions if no interest on a specified loan or loans had been paid by him in the year of assessment.
(4) Where a relevant payment is made in respect of any period, that relevant payment shall be deemed for the purposes of this section to be made in the year of assessment into which the period falls:
Provided that where the period falls partly into one year of assessment and partly into another year of assessment, the amount of the relevant payment made in respect of that period shall be apportioned to each year of assessment in the proportion which the part of the period falling into each year of assessment bears to the whole of the period and the amount so apportioned to a year of assessment shall be deemed, for the purposes of this section, to be paid in that year of assessment.
num: 7
paragraphs: — Section 17 (2) (inserted by the Finance Act, 1976 ) of the Finance Act, 1970 , is hereby amended, as respects payments made on or after the date of the passing of this Act, by the substitution for paragraph (b) of—
“(b) a person carrying on a business which includes the erection of buildings or the manufacture, treatment or extraction of materials for use, whether used or not, in construction operations, or
(bb) a person who is connected with a company carrying on such a business as is mentioned in paragraph (b) (a person being regarded for the purposes of this paragraph as being so connected if he would be regarded for the purposes of section 16 of the Finance (Miscellaneous Provisions) Act, 1968 , as being so connected), or”.
num: 8
paragraphs: —Section 7 of, and the Second Schedule to, the Finance Act, 1979 , shall have effect, for the purpose of ascertaining the amount of income on which a person is to be charged to income tax for the year 1981–82, as if—
(a) “1981–82” were substituted for “1979–80” in subsection (1), and the following proviso were added to the said subsection:
“Provided also that in a case where the claimant is a husband who is assessed to tax in accordance with the provisions of section 194 of the Income Tax Act, 1967 , this subsection shall have effect as if ‘£900’ were substituted for ‘£450’”,
and
num: 9
paragraphs: —The provisions specified hereunder shall, as respects the year 1981–82 and subsequent years of assessment, have effect as if “twenty-four” were substituted for “twelve” in each place where it occurs:
(a) paragraph (II) of the proviso to subsection (3) of section 81 (taxation of rents under short leases) of the Income Tax Act, 1967 ,
(b) paragraph (b) of subsection (1) of section 111 (basis of assessment) of the Income Tax Act, 1967 ,
(c) subsection (2) of section 553 (allowance to owner of mineral rights for expenses) of the Income Tax Act, 1967 ,
(d) subsection (2) of section 23 (work in progress at discontinuance) of the Finance Act, 1970 ,
num: 10
paragraphs: —The Finance Act, 1974 , is hereby amended by the insertion of the following section after section 20A (inserted by the Finance Act, 1978 ):
“20B.—(1) Where an assessment in respect of profits or gains from farming is made on an individual, other than an individual to whom section 16 applies, for any year of assessment (being the year 1981-82 or any subsequent year of assessment), he may upon giving, within 30 days after the date of the notice of assessment, notice in writing to that effect to the inspector, elect to be charged to tax for that year in respect of those profits or gains in accordance with the provisions of subsection (2), and all the provisions of the Income Tax Acts (including, in particular, the provisions relating to appeals against assessments and payments on account) shall apply in relation to the said assessment as if the notice given to the inspector were a notice of appeal against the assessment under section 416 of the Income Tax Act, 1967 , and the said assessment shall be amended as necessary so as to give effect to the election so made by the individual:
Provided that this subsection shall not apply as respects any year of assessment where for either of the two immediately preceding years of assessment the individual was not charged to tax in respect of profits or gains from farming in accordance with the provisions of section 58 (1) of the Income Tax Act, 1967 .
num: 11
paragraphs: — Section 334 of the Income Tax Act, 1967 , is hereby amended, as respects the year 1974-75 and subsequent years of assessment, by the insertion after subsection (2) of the following subsection:
“(2A) Subsection (1) (c) shall apply in respect of the profits of a trade of farming carried on by a charity as if the words after ‘solely to the purposes of the charity’ were deleted.”.
num: 12
paragraphs: — Section 477 of the Income Tax Act, 1967 , shall have effect as if in subsection (2) (inserted by the Finance Act, 1980 )—
(a) “1981-82” were substituted for “1980-81” in paragraph (a), and
(b) “1981” were substituted for “1980”, and “1982” were substituted for “1981”, in each place where they occur, in paragraph (b).
num: 13
paragraphs: —(1) Where, in computing profits from the trade of farming, a deduction allowed by virtue of section 12 of the Finance Act, 1976 , has effect for the year 1981-82—
(a) section 31 (4) (a) of the Finance Act, 1975 (as applied by section 12 (2) (a) of the Finance Act, 1976 ), shall apply and have effect as if “less 20 per cent. of its trading profits for that period” were deleted, and
(b) the said section 12 shall have effect as if subsection (2) (c) (inserted by the Finance Act, 1979 ) had not been enacted.
(2) Where a deduction falls to be made under subsection (2) of section 31A (inserted by the Finance Act, 1976 ) of the Finance Act, 1975 , in relation to the trade of farming for any accounting period which ends on or after the 6th day of April, 1980, the said section 31A shall apply and have effect as respects that accounting period as if in subsection (4) (a) “less 20 per cent. of its trading income for that period” were deleted.
num: 14
paragraphs: —Notwithstanding anything in Chapter IV of Part I of the Finance Act, 1980 , no assessment to resource tax shall be made in respect of the year 1981-82 or any subsequent year of assessment.
num: 15
paragraphs: —(1) Section 6 (4) of the Corporation Tax Act, 1976 , is hereby amended as respects accounting periods ending on or after the 6th day of April, 1980—
(a) in subparagraph (ii) of paragraph (a), by the substitution of “twelve” for “fifteen”, and
(b) in subparagraph (ii) of paragraph (b), by the substitution of “such an interval from the end of that accounting period as is three months less than the interval” for “the like interval from the end of such accounting period as there was”,
and the said subparagraphs, as so amended, are set out in the Table to this subsection.
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(ii) the second instalment within twelve months from the end of the accounting period or, if it is later, within two months from the making of the assessment.
(ii) in respect of any subsequent accounting period, within such an interval from the end of that accounting period as is three months less than the interval between the end of the first accounting period for which the company was within the charge to corporation tax and the date on or before which the second instalment of corporation tax for that first accounting period would have become payable if the assessment for that accounting period had been made on the day immediately following the end of that accounting period:
(2) If subsection (1) would, but for this subsection, have effect so as to require that the second instalment of corporation tax assessed for an accounting period which, apart from subsection (1), would fall to be paid within a period ending on or after the date of the passing of this Act, should fall to be paid within a period ending on a date earlier than the date of such passing, that second instalment shall, notwithstanding subsection (1), fall to be paid within a period ending on the date of such passing.
(3) Subsection (1) shall not have effect in relation to the second instalment of corporation tax assessed for an accounting period which, apart from that subsection, would fall to be paid within a period ending before the date of the passing of this Act.
num: 16
paragraphs: — Section 143 of the Corporation Tax Act, 1976 , is hereby amended by the substitution of the following subsections for subsections (1) and (2):
“(1) A company may be required by a notice served on it by an inspector or other officer of the Revenue Commissioners to deliver to the officer within the time limited by the notice a return of—
(a) the profits of the company computed in accordance with this Act—
(i) specifying the income taken into account in computing those profits, with the amount from each source,
(ii) giving particulars of all disposals giving rise to chargeable gains or allowable losses under the provisions of the Capital Gains Tax Acts and this Act and particulars of those chargeable gains or allowable losses, and
(iii) giving particulars of all charges on income to be deducted against those profits for the purpose of the assessment to corporation tax,
and
(b) the distributions received by the company from companies resident in the State and the tax credits to which the company is entitled in respect of those distributions.
(2) A notice under this section may require a return of profits arising in any period during which the company was within the charge to corporation tax together with particulars of distributions received in that period from companies resident in the State and of tax credits to which the company is entitled in respect of those distributions.”.
num: 17
paragraphs: —As respects any relevant accounting period within the meaning of section 38 of that Act, Chapter VI of Part I of the Finance Act, 1980 , is hereby amended—
(a) by the insertion in section 39 after subsection (1) of the following subsections:
“(1A) The definition of ‘goods’ contained in subsection (1) shall include—
(a) fish produced within the State on a fish farm, and
(b) cultivated mushrooms cultivated within the State,
in the course of a trade by the company which, in relation to the relevant accounting period, is the company claiming relief under this Chapter in relation to the trade and references in this Chapter to ‘manufactured’ shall be construed—
(i) in relation to fish, as including references to produced, and
(ii) in relation to mushrooms, as including references to cultivated,
and words in this Chapter cognate to ‘manufactured’ shall be construed accordingly.
(1B) The following provisions shall apply, for the purpose of relief under this Chapter, in relation to a company that carries on a trade which consists of or includes the repairing of ships—
(a) repairs carried out within the State to a ship shall be regarded as the manufacture within the State of goods, and
(b) any amount receivable in payment for such repairs so carried out shall be regarded as an amount receivable from the sale of goods.
(1C) (a) In this subsection ‘engineering services’ means design and planning services the work on the rendering of which is carried out in the State in connection with chemical, civil, electrical or mechanical engineering works executed outside the territories of the Member States of the European Communities.
(b) Where a company carries on a trade which consists of or includes the rendering of engineering services, the following provisions shall apply for the purpose of relief under this Chapter—
(i) the rendering within the State of such services shall be regarded as the manufacture within the State of goods, and
(ii) any amount receivable in payment for such services so rendered shall be regarded as an amount receivable from the sale of goods.
(1D) The inspector may by notice in writing require a company claiming relief from tax by virtue of subsection (1B) or (1C), as the case may be, to furnish him with such information or particulars as may be necessary for the purpose of giving effect to that subsection, and section 41(2) shall have effect as if the matters of which proof is required thereby included the information or particulars specified in a notice under this subsection.”,
and
(b) by the insertion after section 39 of the following section:
“Relief in relation to income from certain trading operations carried on in Shannon Airport.
39A.—(1) In this section—
‘the airport’ has the same meaning as in the Customs-free Airport Act, 1947 ;
‘company’ means any company carrying on a trade;
‘the EEC Treaty’ means the Treaty establishing the European Economic Community, signed at Rome on the 25th day of March, 1957;
‘the Minister’ means the Minister for Finance;
‘qualified company’ means a company the whole or part of the trade of which is carried on within the airport;
‘relevant trading operations’ means trading operations specified in a certificate given by the Minister under subsection (2);
‘trading operation’ means any trading operation which, apart from this section, is not the manufacture of goods for the purpose of this Chapter but is carried on by a qualified company.
(2) Subject to subsections (5) and (6), the Minister may give a certificate certifying that such trading operations of a qualified company as are specified in the certificate are, with effect from a date to be specified in the certificate, relevant trading operations for the purpose of this section, and any certificate so given shall, unless it is revoked under subsection (4), remain in force until the 31st day of December, 2000:
Provided that—
(a) any trading operations in respect of which the Minister has given a certificate under section 70 (2) of the Corporation Tax Act, 1976 , (or a certificate which has effect as if it were a certificate given under that section) shall not be certified as relevant trading operations unless the Minister is satisfied that those operations arise from an initial investment; and
(b) in determining what constitutes an initial investment for the purposes of this proviso the Minister shall have regard to the principles for the time being applied by the Commission of the European Communities in accordance with the powers vested in it by Articles 92 to 94 of the EEC Treaty.
(3) A certificate under subsection (2) may be given either without conditions or subject to such conditions as the Minister considers proper and specifies therein.
(4) Where, in the case of a company in relation to which a certificate under subsection (2) has been given—
(a) the trade of the company ceases or becomes carried on wholly outside the airport, or
(b) the Minister is satisfied that the company has failed to comply with any condition subject to which the certificate was given,
the Minister may, by notice in writing served by registered post on the company, revoke the certificate with effect from such date as may be specified in the notice.
(5) The Minister shall not certify, under subsection (2), that a trading operation is a relevant trading operation unless it is carried on within the airport and falls within one or more of the following classes of trading operations—
(a) the repair or maintenance of aircraft,
(b) trading operations in regard to which the Minister is of opinion, after consultation with the Minister for Transport, that they contribute to the use or development of the airport,
(c) trading operations which are ancillary to any of those operations described in the foregoing paragraphs or to any operation consisting, apart from this section, of the manufacture of goods.
(6) The Minister shall not certify, under subsection (2), that any of the following trading operations is a relevant trading operation—
(a) the rendering of—
(i) services to embarking or disembarking aircraft passengers, including hotel, catering, money-changing or transport (other than air transport) services, or
(ii) services in connection with the landing, departure, loading or unloading of aircraft,
num: 18
paragraphs: —(1) A payment to which this section applies shall be disregarded for all the purposes of the Tax Acts.
(2) This section applies to any payment made, whether before or after the passing of this Act, to an employer in respect of a person employed by him, being a payment out of the fund known as the Employers' Temporary Subvention Fund which was established on the 28th day of August, 1980, and is administered by a committee representative of the Irish Congress of Trade Unions, the Federated Union of Employers and the Confederation of Irish Industry.
num: 19
paragraphs: — Section 34 (3) of the Finance Act, 1973 , is hereby amended by the substitution of “an invention which is the subject of a qualifying patent” for “an invention which is the subject of a patent”, and the said section 34 (3), as so amended, is set out in the Table to this section.
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(3) Where, under section 92 of the Patents Act, 1964 , or any corresponding provisions of the law of any other country, an invention which is the subject of a qualifying patent is made, used, exercised or vended by or for the service of the State or the government of the country concerned, the provisions of this section shall have effect as if the making, user, exercise or vending of the invention had taken place in pursuance of a licence and any sums paid in respect thereof were income from a qualifying patent.
num: 20
paragraphs: —(1) Section 31A (inserted by the Finance Act, 1976 ) of the Finance Act, 1975 , is hereby amended by the substitution of “1981” for “1980”—
(a) in paragraph (iv) (inserted by the Finance Act, 1979 ) of the proviso (inserted by the Finance Act, 1977 ) to subsection (4) (a),
(b) in subsection (7) (inserted by the Finance Act, 1977 ), and
(c) in subsection (9) (inserted by the Finance Act, 1977 ) in each place where it occurs,
and the said paragraph, the said subsection (7) (other than the proviso) and the said subsection (9) (other than the proviso), as so amended, are set out in the Table to this subsection.
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(iv) a deduction shall not be allowed under the provisions of this section in computing a company's trading income for any accounting period which ends on or after the 6th day of April, 1981.
(7) Where in relation to an accounting period a company's opening stock value exceeds its closing stock value, the amount of the excess (in this section referred to as the company's “decrease in stock value”) shall, if the accounting period ends on a date before the 6th day of April, 1981, be treated in the computation of the company's trading income for the purposes of corporation tax, as a trading receipt of the company's trade for that accounting period:
(9) In the computation of a company's trading income for the purposes of corporation tax for any accounting period which ends on or after the 6th day of April, 1981, in which there is a decrease in stock value, there shall be treated as a trading receipt of the company's trade for that accounting period the amount (if any) by which A exceeds the aggregate of B and C where—
A is the aggregate amount of the company's decreases in stock value in all accounting periods which ended on or after the 6th day of April, 1981,
B is the aggregate amount of the company's increases in stock value in all accounting periods which ended on or after the 6th day of April, 1981, and
C is the aggregate of the amounts which under this subsection are treated as trading receipts of the company's trade for preceding accounting periods:
(2) Section 12 of the Finance Act, 1976 , is hereby amended—
(a) by the substitution of “, 1980-81 or 1981-82” for “or 1980-81” (inserted by the Finance Act, 1980 ) in paragraph (c) (inserted by the Finance Act, 1979 ) of subsection (2),
(b) by the substitution in subsection (3) of “1981-82” for “1980-81” (inserted by the Finance Act, 1980 ), and
(c) by the substitution of “1981” for “1980” (inserted by the Finance Act, 1980 ) in each place where it occurs in subsection (5) (inserted by the Finance Act, 1978 ) and subsection (6) (inserted by the Finance Act, 1977 ),
and the said paragraph, the said subsection (3), the said subsection (5) (other than the proviso) and the said subsection (6) (other than the proviso), as so amended, are set out in the Table to this subsection.
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(c) Where a deduction allowed by virtue of this section in computing a person's trading profits of a trade for an accounting period has effect for the year 1979-80, 1980-81 or 1981-82, the amount of the deduction shall, notwithstanding any provision to the contrary, be three-fourths of the amount which, apart from this paragraph, would be the amount of the deduction for that accounting period.
(3) Any deduction allowed by virtue of this section in computing a person's trading profits for an accounting period shall not have effect for any purpose of the Income Tax Acts for any year of assessment prior to the year 1974-75 or later than the year 1981-82.
(5) In the computation of a person's trading income for an accounting period in which there is a decrease in stock value and which ends on a date in the period from the 6th day of April, 1976, to the 5th day of April, 1981, the amount of that decrease shall be treated as a trading receipt of the trade for that accounting period:
(6) In the computation of a person's trading income for any accounting period in which there is a decrease in stock value and which ends on or after the 6th day of April, 1981, there shall be treated as a trading receipt of the trade for that accounting period the amount (if any) by which A exceeds the aggregate of B and C
where—
A is the aggregate amount of the person's decreases in stock value in all accounting periods which ended on or after the 6th day of April, 1981,
B is the aggregate amount of the person's increases in stock value in all accounting periods which ended on or after the 6th day of April, 1981, and
C is the aggregate of the amounts which are treated as trading receipts of the person's trade for preceding accounting periods which ended on or after the 6th day of April, 1981:
num: 21
paragraphs: — Section 67 of the Corporation Tax Act, 1976 , shall, with any necessary modifications, apply in relation to a distribution to which section 64 of that Act applies, which is made on or after the 6th day of April, 1978, and which is received by a company that is not resident in the State as it applies in relation to a distribution received by an individual.
num: 22
paragraphs: — Section 152 of the Corporation Tax Act, 1976 , is hereby amended, as respects any assessment to income tax which is made on or after the date of the passing of this Act, by the insertion after subsection (3) of the following subsection:
“(4) Section 551 (1) of the Income Tax Act, 1967 , shall not apply where, by virtue of section 98 (4), there is any discharge or repayment of tax assessed under section 151.”.
num: 23
paragraphs: —(1) (a) In this section—
“certificate of reasonable cost” means a certificate granted by the Minister for the Environment for the purposes of this section, stating that the amount specified in the certificate in relation to the cost of construction of the house to which the certificate relates appears to him at the time of the granting of the certificate and on the basis of the information available to him at that time to be reasonable, and section 18 of the Housing (Miscellaneous Provisions) Act, 1979 , shall, with any necessary modifications, apply to a certificate of reasonable cost as if it were a certificate of reasonable value;
“certificate of reasonable value” has the meaning assigned to it by section 18 of the Housing (Miscellaneous Provisions) Act, 1979 ;
“house” includes any building or part of a building used or suitable for use as a dwelling and any out-office, yard, garden or other land appurtenant thereto or usually enjoyed therewith;
“lease”, “lessee”, “lessor” and “premium” have the meanings assigned to them by Chapter VI of Part IV of the Income Tax Act, 1967 ;
“qualifying lease”, in relation to a house, means a lease of the house the consideration for the grant of which consists—
(i) solely of periodic payments all of which are, or fall to be treated as, amounts by way of rent for the purposes of Chapter VI of Part IV of the Income Tax Act, 1967 , or
(ii) of payments of the kind mentioned in paragraph (i) together with a payment by way of premium which does not exceed 10 per cent. of the relevant cost of the house:
Provided that the lease shall not be a qualifying lease if the terms of the lease contain any provisions enabling the lessee or any other person, directly or indirectly, at any time to acquire any interest in the house for a consideration which is less than that which might be expected to be given at that time for the acquisition of the interest if the negotiations for that acquisition were conducted in the open market at arm's length;
“qualifying period” means the period commencing on the 29th day of January, 1981, and ending on the 31st day of March, 1984;
“qualifying premises” means a house—
(i) which is used solely as a dwelling, and
(ii) the total floor area of which—
(I) is not less than 30 square metres and not more than 75 square metres in the case where the house is a separate self-contained flat or maisonette in a building of two or more storeys, or
(II) is not less than 35 square metres and not more than 125 square metres in any other case, and
(iii) in respect of which there is in force either a certificate of reasonable cost the amount specified in which in respect of the cost of construction of the house to which the certificate relates is not less than the expenditure actually incurred on such construction or, if it is a new house provided for sale, a certificate of reasonable value wherein the amount for which the house to which the certificate relates is stated to represent reasonable value is not less than the net price paid for the house on the sale in respect of which the certificate is granted, and
(iv) which, without having been used, is first let in its entirety under a qualifying lease and thereafter throughout the remainder of the relevant period (save for reasonable periods of temporary disuse between the ending of one qualifying lease and the commencement of another such lease) continues to be let under such a lease;
“relevant cost”, in relation to a house, means, subject to subsection (3), an amount equal to the aggregate of—
(i) the expenditure incurred on the acquisition of, or of rights in or over, any land on which the house is constructed, and
(ii) the expenditure actually incurred on the construction of the house;
“relevant period”, in relation to a qualifying premises, means the period of ten years beginning with the date of the first letting of the premises under a qualifying lease;
“total floor area” means the total floor area of a house measured in the manner referred to in section 4 (2) (b) of the Housing (Miscellaneous Provisions) Act, 1979 .
(b) (i) For the purposes of determining, in relation to any claim under subsection (2), whether and to what extent expenditure incurred on the construction of a qualifying premises is incurred during the qualifying period, only such an amount of that expenditure as is determined by
the inspector, according to the best of his knowledge and judgment, to be properly attributable to work on the construction of the premises which was actually carried out during the qualifying period shall be treated as having been incurred during that period.
(ii) Where, by virtue of subsection (4), expenditure on the construction of any premises includes expenditure on the development of any land, subparagraph (i) shall have effect, with any necessary modifications, as if the references therein to the construction of any premises were references to the development of such land.
(iii) Any amount which, by virtue of subparagraph (i) or (ii), is determined by the inspector may be amended by the Appeal Commissioners or by the Circuit Court on the hearing, or the rehearing, of an appeal against that determination.
(c) For the purposes of this section, other than for the purposes mentioned in paragraph (b) (i), expenditure incurred on the construction of a qualifying premises shall be deemed to have been incurred on the date of the first letting of the premises under a qualifying lease.
(d) A person shall be regarded for the purposes of this section as connected with another person if he would be so regarded for the purposes of section 16 of the Finance (Miscellaneous Provisions) Act, 1968 .
(2) Where a person, having made a claim in that behalf, proves that he has incurred expenditure on the construction of a qualifying premises, he shall be entitled, in computing for the purposes of subsection (4) of section 81 of the Income Tax Act, 1967 , the amount of a surplus or deficiency in respect of the rent from the said premises, to a deduction of so much (if any) of the expenditure as falls to be treated under any of the provisions of this section as having been incurred by him in the qualifying period and all the provisions of Chapter VI of Part IV of the said Act shall apply as if the said deduction were a deduction authorised by the provisions of subsection (5) of the said section 81:
Provided that where any premium or other sum which is payable, directly or indirectly, under a qualifying lease, or otherwise under the terms subject to which the lease is granted, to or for the benefit of the lessor or to or for the benefit of any person connected with the lessor, or any part of such premium or sum, is not, or is not treated as, an amount by way of rent for the purposes of the said section 81, the expenditure falling to be treated as having been incurred in the qualifying period on the construction of the qualifying premises to which the qualifying lease relates shall be deemed, for the purposes of this subsection, to be reduced by the lesser of—
(a) the amount of the said premium or sum, or as the case may be, the said part of such premium or sum, and
(b) the amount which bears to the amount mentioned in paragraph (a) the same proportion as the amount of the expenditure actually incurred on the construction of the qualifying premises which falls to be treated under subsection (1) (b) as having been incurred in the qualifying period bears to the whole of the expenditure incurred on the said construction.
(3) (a) Where a qualifying premises forms part of a building or is one of a number of buildings in a single development, or forms part of a building which is itself one of a number of buildings in a single development, there shall be made such apportionment as is necessary—
(i) of the expenditure incurred on the construction of the said building or buildings, and
(ii) of the amount which would be the relevant cost in relation to the said building or buildings if the building or buildings, as the case may be, were a single qualifying premises,
for the purposes of determining the expenditure incurred on the construction of the qualifying premises and the relevant cost in relation to the qualifying premises.
(b) Any apportionment required by this paragraph shall be made by the inspector according to the best of his knowledge and judgment.
(c) An apportionment made under paragraph (a) may be amended by the Appeal Commissioners or by the Circuit Court on the hearing, or the rehearing, of an appeal against any deduction granted on the basis of the apportionment.
(4) In this section references to the construction of any premises shall be construed as including references to the development of the land on which the premises are constructed or which is used in the provision of gardens, grounds, access or amenities in relation to the premises and, without prejudice to the generality of the foregoing, as including, in particular—
(a) demolition or dismantling of any building on the land,
(b) site clearance, earth moving, excavation, tunnelling and boring, laying of foundations, erection of scaffolding, site restoration, landscaping and the provision of roadways and other access works,
(c) walls, power-supply, drainage, sanitation and water supply, and
(d) the construction of any outhouses or other buildings or structures for use by the occupants of the premises or for use in the provision of amenities for the occupants.
(5) Where a house is a qualifying premises and at any time during the relevant period in relation to the premises either of the following events occurs:
(a) the house ceases to be a qualifying premises, or
(b) the ownership of the lessor's interest in the house passes to any other person but the house does not cease to be a qualifying premises,
the person who, before the occurrence of the event, received or was entitled to receive a deduction under subsection (2) in respect of expenditure incurred on the construction of the qualifying premises shall be deemed to have received on the day before the day of the occurrence an amount by way of rent from the qualifying premises equal to the amount of the deduction.
(6) (a) Where the event mentioned in subsection (5) (b) occurs in the relevant period in relation to a house which is a qualifying premises, the person to whom the ownership of the lessor's interest in the said house passes shall be treated as having incurred in the qualifying period an amount of expenditure on the construction of the said house equal to the amount which, under any of the provisions of this section apart from the proviso to subsection (2), the said lessor was treated as having incurred in the qualifying period on the construction of the said house:
Provided that, in the case of a person who purchases such a house, the amount so treated as having been incurred by him shall not exceed the relevant price paid by him on the sale.
(b) For the purposes of this subsection and subsection (7), the relevant price paid by a person on the sale of a house is the amount which bears to the net price paid by him on that sale the same proportion as the amount of the expenditure actually incurred on the construction of the house which falls to be treated under subsection (1) (b) as having been incurred in the qualifying period bears to the relevant cost in relation to that house.
(7) (a) Subject to paragraph (b), where expenditure is incurred on the construction of a house and before the house is used it is sold, the person who buys the house shall be treated for the purposes of this section as having incurred in the qualifying period expenditure on the construction of the house equal to the amount of such expenditure which falls to be treated under subsection (1) (b) as having been incurred in the qualifying period or the relevant price paid by him on the sale, whichever is the lower:
Provided that where the house is sold more than once before it is used, the provisions of this subsection shall have effect only in relation to the last of those sales.
(b) Where expenditure is incurred on the construction of a house by a person carrying on a trade or part of a trade which consists, as to the whole or any part thereof, of the construction of buildings with a view to their sale and the house, before it is used, is sold in the course of that trade or, as the case may be, that part of that trade, the person who buys the house shall be treated, for the purposes of this section, as having incurred in the qualifying period expenditure on the construction of the house equal to the relevant price paid by him on the said sale (hereafter in this paragraph referred to as “the first sale”) and, in relation to any subsequent sale or sales of the house before the house is used, paragraph (a) shall have effect as if the reference to the amount of expenditure which falls to be treated as having been incurred in the qualifying period were a reference to the said relevant price paid on the first sale.
(8) A house shall not be a qualifying premises if it is occupied as a dwelling by any person who is connected with the person who is entitled, in relation to the expenditure incurred on the construction of the house, to a deduction under subsection (2), and the terms of the qualifying lease in relation to the house are not such as might have been expected to be included in the lease if the negotiations for the lease had been at arm's length.
(9) A house shall not be a qualifying premises unless—
(a) it complies with such conditions, if any, as may be determined by the Minister for the Environment from time to time for the purposes of section 4 of the Housing (Miscellaneous Provisions) Act, 1979 , in relation to standards of construction of houses and the provision of water, sewerage and other services therein, and
(b) persons authorised in writing by the Minister for the Environment for the purposes of this section are permitted to inspect it at all reasonable times upon production, if so requested by a person affected, of their authorisations.
num: 24
paragraphs: —(1) This section applies to expenditure incurred on the conversion into two or more houses of a building which, prior to the conversion, had not been in use as a dwelling or had been in use as a single dwelling.
(2) As respects expenditure to which this section applies, section 23 shall, with any necessary modifications, apply as if the expenditure incurred on the conversion of the building into two or more houses had actually been incurred on the construction of the houses and as if—
(a) in paragraph (ii) of the definition of “qualifying lease”, the reference to the relevant cost of a house were a reference to the market value of the house at the time the conversion is completed:
Provided that, in the case of a house which is a part of a building and which is not saleable apart from the building of which it is a part, the market value of the house at the time the conversion is completed shall, for the purposes of this paragraph, be taken to be an amount which bears to the market value of the building at that time the same proportion as the total floor area of the house bears to the total floor area of the building,
(b) in paragraph (iv) of the definition of “qualifying premises”, “subsequent to the incurring of the expenditure on the conversion” were inserted after “without having been used”,
(c) the definition of “relevant cost” and subsections (6) (b) and (7) (b) were deleted,
(d) the references in subsection (3) of that section to relevant cost were deleted,
(e) the references in subsections (6) (a) and (7) (a) to the relevant price paid on the sale were references to—
(i) the net price paid on the sale, or
(ii) in case only a part of the expenditure to which this section applies falls to be treated, for the purposes of subsection (2) of that section, as having been incurred in the qualifying period, the amount which bears to the said net price the same proportion as that part bears to the whole of that expenditure,
(f) the references in subsection (7) (a) to a house being used were references to the house being used subsequent to the incurring of the expenditure on the conversion, and
(g) in subsection (9) (a), “section 5” were substituted for “section 4”.
(3) This section shall not apply in the case of a conversion unless planning permission in respect of the conversion has been granted under the Local Government (Planning and Development) Acts, 1963 and 1976.
num: 25
paragraphs: —(1) In this section—
“multi-storey car-park” means a building or structure consisting of three or more storeys wholly in use for the purpose of providing, for members of the public generally without preference for any particular class of person, upon payment of an appropriate charge, parking space for mechanically propelled vehicles;
“relevant expenditure” means capital expenditure incurred on or after the 29th day of January, 1981, and before the 1st day of April, 1984, on the construction of a multi-storey car-park.
(2) All the provisions of the Tax Acts (other than section 25 of the Finance Act, 1978 ) relating to the making of allowances or charges in respect of capital expenditure on the construction of an industrial building or structure shall apply to relevant expenditure as if it were expenditure incurred on the construction of a building or structure in respect of which an allowance falls to be made for the purposes of income tax or corporation tax, as the case may be, under Chapter II of Part XV or under Chapter I of Part XVI of the Income Tax Act, 1967 , by reason of its use for a purpose specified in section 255 (1) (a) of that Act.
num: 26
paragraphs: —(1) In this section—
num: 27
paragraphs: — Section 254 (1) (inserted by the Corporation Tax Act, 1976 ) of the Income Tax Act, 1967 , is hereby amended—
(a) by the substitution for paragraph (b) of the following paragraph:
“(b) The lessee referred to in paragraph (a) is a lessee occupying the building or structure on the construction of which the expenditure was incurred and who so occupies it—
(i) under a relevant lease, or
(ii) as respects such expenditure incurred after the 28th day of January, 1981, under a lease to which a relevant lease granted to the Industrial Development Authority, the Shannon Free Airport Development Company Limited or ÃdarÃ¡s na Gaeltachta is reversionary.”,
(b) by the substitution for the definition of “appropriate chargeable period” in paragraph (c) of the following definition:
num: 28
paragraphs: —In relation to the computation for the purposes of income tax or corporation tax of the profits or gains or losses of any period ending on or after the 6th day of April, 1981, section 17 of the Finance (Miscellaneous Provisions) Act, 1968 , is hereby amended by the substitution of the following subsection for subsection (1)—
num: 29
paragraphs: —(1) This section is enacted to prevent the avoidance of tax by persons concerned with dealing in or developing land.
(2) (a) In relation to the computation for the purposes of income tax or corporation tax of the profits or gains or losses of any period ending on or after the 6th day of April, 1981, Part IV of the Finance (Miscellaneous Provisions) Act, 1968 , is hereby amended by the substitution of the following section for section 18:
num: 30
paragraphs: —In this Part—
“the Act of 1980” means the Finance Act, 1980 ;
“the Order of 1975” means the Imposition of Duties (No. 221) (Excise Duties) Order, 1975 ( S.I. No. 307 of 1975 ).
num: 31
paragraphs: —(1) The duty of excise on beer imposed by paragraph 7 (1) of the Order of 1975 shall be charged, levied and paid, as on and from the 29th day of January, 1981, at the rate of £112.266 for, in the case of all beer brewed within the State, every 36 gallons of worts of a specific gravity of 1,055 degrees, and, in the case of all imported beer, every 36 gallons of beer of which the worts were before fermentation of a specific gravity of 1,055 degrees, in lieu of the rate mentioned in section 64 (1) of the Act of 1980.
(2) Subject to paragraph 5 of the Imposition of Duties (No. 250) (Beer) Order, 1981 ( S.I. No. 10 of 1981 ), the drawback on beer provided for in paragraph 7 (3) of the Order of 1975 shall, as respects beer on which it is shown, to the satisfaction of the Revenue Commissioners, that duty at the rate mentioned in subsection (1) of this section has been paid, be calculated, according to the original specific gravity of the beer, at the rate of £112.266 on every 36 gallons of beer of which the original specific gravity was 1,055 degrees.
num: 32
paragraphs: —(1) In this section and in the Second Schedule to this Act “cigarettes”, “cigars”, “cavendish or negrohead”, “hard pressed tobacco”, “other pipe tobacco”, “smoking tobacco”, “chewing tobacco” and “tobacco products” have the same meanings as they have in the Finance (Excise Duty on Tobacco Products) Act, 1977 , as amended by the Imposition of Duties (No. 243) (Excise Duty on Tobacco Products) Order, 1979 ( S.I. No. 296 of 1979 ).
num: 33
paragraphs: —(1) In this section “alcohol” means pure ethyl alcohol.
num: 34
paragraphs: —(1) In the Fourth Schedule to this Act—
“actual alcoholic strength by volume” means the number of volumes of pure alcohol contained at a temperature of 20°C in 100 volumes of the product at that temperature;
“% vol” means alcoholic strength by volume.
num: 35
paragraphs: —(1) The duty of excise on mineral hydrocarbon light oil imposed by paragraph 11 (1) of the Order of 1975 shall be charged, levied and paid, as on and from the 29th day of January, 1981, at the rate of £16.53 per hectolitre in lieu of the rate specified in section 70 (2) of the Act of 1980.
(2) The duty of excise on hydrocarbon oil imposed by paragraph 12 (1) of the Order of 1975 shall be charged, levied and paid, as on and from the 29th day of January, 1981, at the rate of £10.88 per hectolitre in lieu of the rate specified in section 70 (3) of the Act of 1980.
(3) As on and from the 29th day of January, 1981, the rate of any repayment allowed under paragraph 12 (11) of the Order of 1975 in respect of hydrocarbon oil on which such repayment is allowable and on which the excise duty mentioned in subsection (2) of this section was paid at the rate of £10.88 per hectolitre shall be £9.09 per hectolitre in lieu of the rate allowable immediately before the 29th day of January, 1981.
(4) The duty of excise on gaseous hydrocarbons in liquid form imposed by section 41 (1) of the Finance Act, 1976 , shall be charged, levied and paid, as on and from the 29th day of January, 1981, at the rate of £0.40 per gallon in lieu of the rate specified in section 70(14) of the Act of 1980.
(5) (a) In this subsection—
“hydrocarbon oil” means hydrocarbon oil delivered on or after the 1st day of June, 1981, on which the excise duty imposed by paragraph 12 of the Order of 1975 has been paid;
“sea-fishing boat” means a sea-fishing boat which—
(i) is registered in accordance with the Merchant Shipping (Registry, Lettering and Numbering of Fishing Boats) (Regulations) Order, 1927 (S.R. & O., No. 105 of 1927), and
(ii) is registered under the Mercantile Marine Act, 1955 ;
“sea-fishing” does not include sea-angling.
(b) Where the owner or master of a sea-fishing boat shows to the satisfaction of the Revenue Commissioners that hydrocarbon oil was used for combustion in the engine of that boat while engaged in sea-fishing, the Revenue Commissioners may, subject to such conditions as they may think fit to impose, repay excise duty at the rate of £0.44 per hectolitre on the oil so used.
(c) Except where the Revenue Commissioners otherwise allow, an application for repayment of duty under this subsection shall be in respect of hydrocarbon oil used within a period of three months and shall be made not later than six months following the end of such period.
num: 36
paragraphs: —The duty of excise on televisions imposed by paragraph 5(1) of the Imposition of Duties (No. 236) (Excise Duties on Motor Vehicles, Televisions and Gramophone Records) Order, 1979 ( S.I. No. 57 of 1979 ), shall be charged, levied and paid, as on and from the 29th day of January, 1981, at the several rates specified in the Fifth Schedule to this Act in lieu of the several rates specified in the Sixth Schedule to the Act of 1980.
num: 37
paragraphs: —(1) Paragraph 9 of the Order of 1975 is hereby amended—
(a) by the substitution for subparagraph (2) of the following subparagraph:
“(2) In addition to any other duty which may be chargeable, there shall be charged, levied and paid upon table waters made in the State which are sent out, on or for sale or otherwise, from the premises of the manufacturer or sold for consumption on the premises of the manufacturer, and on table waters imported into the State, a duty of excise at the rate of £0.372 per gallon.”,
(b) by the substitution for subparagraph (3) of the following subparagraph:
“(3) In this Order ‘table waters’ includes any aerated waters and any beverages (including syrups or other liquors intended to be consumed only in a diluted form) put up for sale in bottles, cans, casks or other closed containers or receptacles other than—
(a) any liquor for the retail sale of which an excise licence is required,
(b) milk and milk products, whether or not flavoured,
(c) soups and broths, and
(d) fruit and vegetable juices which, in the opinion of the Revenue Commissioners, have not lost their original character through the addition of water or of other substances for sweetening, preservative or other purposes.”.
(2) Section 69 of the Act of 1980 is hereby amended by the substitution for paragraph (a) of subsection (3) of the following paragraph:
“(a) Subject to the subsequent paragraphs of this subsection, every manufacturer of table waters on which the duty of excise imposed by paragraph 9 (2) of the Order of 1975, as amended, is paid by him shall, on and after the 1st day of March, 1981, be allowed a rebate of the duty as follows in relation to each premises in which he manufactures the table waters:
Rate of Rebate
Where the quantity manufactured by him therein on which the duty has been paid by him in any year commencing on the 1st day of March does not exceed 40,000 gallons
£0.16 per gallon for each gallon thereof.
exceeds 40,000 gallons and is less than 120,000 gallons
£0.16 per gallon for each of the first 40,000 gallons and £0.08 per gallon for each other gallon.
is 120,000 gallons or more
£0.16 per gallon for each of the first 40,000 gallons and £0.08 per gallon for each of the next 80,000 gallons.”.
(3) This section shall have effect as on and from the 1st day of June, 1981.
num: 38
paragraphs: —(1) The duty of excise on Refreshment House licences, imposed by section 1 of the Refreshment Houses (Ireland) Act, 1860 , shall be charged, levied and paid at the rate of £10 in lieu of the rate specified in section 77(5) of the Act of 1980.
(2) This section shall have, and be deemed to have had, effect as on and from the 1st day of April, 1981, and any duty of excise paid in excess of £10 under the said section 77(5) in respect of any Refreshment House licence issued on or after such day may be repaid.
num: 39
paragraphs: —The Imposition of Duties (No. 246) (Beer) Order, 1980 ( S.I. No. 49 of 1980 ), is hereby confirmed.
num: 40
paragraphs: —(1) Section 94 of the Finance Act, 1973 (No. 19 of 1973), is hereby amended by the substitution of the following paragraphs for paragraph (b) of subsection (2):
“(b) £16.50 in relation to a vehicle which does not exceed 16 horse-power, is fitted with a taximeter and is lawfully used as a street service vehicle within the meaning of the Road Traffic Act, 1961 , or for purposes incidental to such user and for no other purpose;
(c) £20 in relation to any other vehicle (not being a vehicle in respect of which the said duty of excise is not chargeable or leviable or a vehicle to which paragraph (d) of this subsection applies);
(d) £10 in relation to a vehicle which exceeds 16 horse-power, is fitted with a taximeter and is lawfully used as a street service vehicle within the meaning of the Road Traffic Act, 1961 , or for purposes incidental to such user and for no other purpose.”.
(2) This section shall have effect—
(a) as respects licences under section 1 of the Finance (Excise Duties) (Vehicles) Act, 1952 , taken out for periods beginning on or after the 1st day of March, 1981, in respect of specified vehicles (within the meaning of the said section 94) to which paragraphs (b) and (c) (inserted by this section) of the said subsection (2) apply, and
(b) as respects other mechanically propelled vehicles to which paragraphs (c) and (d) (inserted by this section) of the said subsection (2) apply and in respect of which licences under the said section 1 are taken out for periods beginning on or after the said 1st day of March, 1981.
(3) The appropriate repayments shall be made having regard to the provisions of the preceding subsections of this section and the repayments shall be made in accordance with such directions as may be given by the Minister for the Environment.
num: 41
paragraphs: — Section 1 (2)(b) of the Finance (Excise Duties) (Vehicles) Act, 1952 , is, as respects licences under that Act for periods beginning on or after the 1st day of March, 1981, hereby amended by the substitution of “twenty pounds or less” for “ten pounds or less” (inserted by the Act of 1980).
num: 42
paragraphs: —In this Part “the Principal Act” means the Value-Added Tax Act, 1972 .
num: 43
paragraphs: —Section 1(1) of the Principal Act is hereby amended, with effect as on and from the 1st day of November, 1972, by the insertion in the definition of “development” after “correspondingly” of—
“, and
in this definition ‘building’ includes, in relation to a transaction, any prefabricated or like structure in respect of which the following conditions are satisfied:
(a) the structure—
(i) has a rigid roof and one or more rigid walls and, except in the case of a structure used for the cultivation of plants, a floor,
(ii) is designed so as to provide for human access to, and free movement in, its interior,
(iii) is for a purpose that does not require that it be mobile or portable, and
(iv) does not have or contain any aids to mobility or portability,
and
(b) (i) neither the agreement in respect of the transaction nor any other agreement between the parties to that agreement contains a provision relating to the rendering of the structure mobile or portable or the movement or re-location of the structure after its erection, and
(ii) the person for whom the structure is constructed, extended, altered or reconstructed signs and delivers, at the time of the transaction, to the person who constructed, extended, altered or reconstructed the structure a declaration of his intention to retain it on the site on which it is at that time located”.
num: 44
paragraphs: —Section 12(2) of the Principal Act is hereby amended by the substitution of “refunded to the taxable person in accordance with section 20(1)” for “repaid to the taxable person”.
num: 45
paragraphs: —Section 20 of the Principal Act is hereby amended by the substitution of the following subsection for subsection (1):
“(1) Where, in relation to a return lodged under section 19 or a claim made in accordance with regulations, it is shown to the satisfaction of the Revenue Commissioners that, as respects any taxable period, the amount of tax, if any, actually paid to the Collector-General in accordance with section 19 together with the amount of tax, if any, which qualified for deduction under section 12 exceeds the tax, if any, which would properly be payable if no deduction were made under the said section 12, they shall refund the amount of the excess less any sums previously refunded under this subsection or repaid under section 12 and may include in the amount refunded any interest which has been paid under section 21.”.
num: 46
paragraphs: —(1) Part 1 of the Second Schedule to the Capital Acquisitions Tax Act, 1976 , is hereby amended by the insertion after paragraph 9 of the following paragraph:
“10. (a) In this paragraph ‘specified disposition’ means a disposition—
(i) the date of which is a date prior to the 1st day of April, 1975,
(ii) in relation to which the disponer is a grandparent of the donee or successor, and
(iii) in which the marriage of the parents of the donee or successor was, at the date of the disposition, expressed to be the consideration.
(b) Where, on the cesser of a limited interest to which a parent of the donee or successor was entitled in possession, the donee or successor takes a gift or an inheritance under a specified disposition, then, for the purpose of computing the tax payable on the gift or inheritance, the donee or successor shall be deemed to bear to the disponer the relationship of a child.”.
(2) Notwithstanding the provisions of section 46 of the Capital Acquisitions Tax Act, 1976 , interest shall not be payable on any repayment of tax which arises by virtue of this section where such tax was paid prior to the date of the passing of this Act.
num: 47
paragraphs: —Section 58 of the Stamp Act, 1891, is hereby amended, with respect to instruments executed on or after the date of the passing of this Act, by the insertion after subsection (6) of the following subsections:
“(7) (a) The consideration moving from the sub-purchaser shall, in a case to which subsection (4), (5) or (6) applies, be ascertained without regard to the value of any covenant, power, condition or arrangement relating to the subject matter of the conveyance which was not in the contract for sale entered into by the original seller and also without regard to any consideration the duty on which or on any part of which would be charged in accordance with subsection (2) or (3) of section 56.
(b) In paragraph (a) ‘the original seller’ means, in relation to a case to which subsection (4) applies, the person from whom the property is conveyed to the subpurchaser and, in relation to a case to which subsection (5) or (6) applies, the original seller referred to in the said subsection (5) or (6), as the case may be.
num: 48
paragraphs: —(1) Section 49 of the Finance Act, 1969 , is hereby amended by the insertion after subsection (2) (inserted by the Finance Act, 1976 ) of the following subsection:
“(2A) Notwithstanding subsection (2) of this section, subsection (1) of this section shall have effect in relation to an instrument if, but (apart from the said subsection (2)) only if, it is shown to the satisfaction of the Revenue Commissioners—
(a) that there is in force in respect of the house to which the instrument relates a certificate of reasonable value under section 18 of the Housing (Miscellaneous Provisions) Act, 1979 , and
(b) that the Minister for the Environment has certified that he is satisfied, on the basis of the information available to him at the time of so certifying, that the total floor area of the said house measured in the manner referred to in section 4(2)(b) of that Act does not or will not exceed the maximum total floor area standing specified in regulations under the said section 4(2)(b) and is not or will not be less than the minimum total floor area standing so specified.”.
num: 49
paragraphs: —(1) Section 41 of the Finance Act, 1970 , is hereby amended by the substitution of “3p” for “one new penny” in subsection (1) and for “one penny in new currency” in subsection (3).
(2) This section shall have effect with respect to bills of exchange and promissory notes drawn on or after the date of the passing of this Act.
num: 50
paragraphs: —(1) The Imposition of Duties (No. 248) (Stamp Duty on Bills of Exchange and Promissory Notes) Order, 1980 ( S.I. No. 136 of 1980 ), is hereby revoked with respect to bills of exchange and promissory notes drawn on or after the date of the passing of this Act.
(2) The following Orders are hereby revoked with respect to instruments executed on or after the date of the passing of this Act:
(a) the Imposition of Duties (No. 247) (Stamp Duty on Conveyances to Sub-Purchasers) Order, 1980 ( S.I. No. 123 of 1980 ),
(b) the Imposition of Duties (No. 249) (Exemption of Certain Instruments from Stamp Duty) Order, 1980 ( S.I. No. 317 of 1980 ).
num: 51
paragraphs: —(1) In this section—
“the principal section” means section 22 of the Finance Act, 1950 ;
“the 1980 amending section” means section 88 of the Finance Act, 1980 ;
“the thirty-first additional annuity” means the sum charged on the Central Fund under subsection (4) of this section;
“the Minister”, “the Account” and “capital services” have the same meanings respectively as they have in the principal section.
(2) In relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of December, 1981, subsection (4) of the 1980 amending section shall have effect with the substitution of “£24,070,491” for “£20,397,734”.
(3) Subsection (6) of the 1980 amending section shall have effect with the substitution of “£15,194,542” for “£13,130,462”.
(4) A sum of £29,870,308 to redeem borrowings, and interest thereon, in respect of capital services shall be charged annually on the Central Fund or the growing produce thereof in the thirty successive financial years commencing with the financial year ending on the 31st day of December, 1981.
(5) The thirty-first additional annuity shall be paid into the Account in such manner and at such times in the relevant financial year as the Minister may determine.
(6) Any amount of the thirty-first additional annuity, not exceeding £19,228,162 in any financial year, may be applied towards defraying the interest on the public debt.
(7) The balance of the thirty-first additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.
num: 52
paragraphs: —Any obligation to maintain secrecy or other restriction upon the disclosure or production of information (including documents) obtained by or furnished to the Revenue Commissioners, or any person on their behalf, for taxation purposes, shall not apply to the disclosure or production of information (including documents) to the Ombudsman for the purposes of an examination or investigation by the Ombudsman, under the Ombudsman Act, 1980 , of any action (within the meaning of the Ombudsman Act, 1980 ) taken by or on behalf of the Revenue Commissioners, being such an action taken in the performance of administrative functions in respect of any tax or duty under the care and management of the Revenue Commissioners.
num: 53
paragraphs: —All taxes and duties imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.
num: 54
paragraphs: —(1) This Act may be cited as the Finance Act, 1981.
(2) Part I of this Act (so far as relating to income tax) shall be construed together with the Income Tax Acts and (so far as relating to corporation tax) shall be construed together with the Corporation Tax Acts.
(3) Part II of this Act, so far as it relates to customs, shall be construed together with the Customs Acts and the said Part II , so far as it relates to duties of excise, shall be construed together with the statutes which relate to the duties of excise and to the management of those duties.
(4) Part III of this Act shall be construed together with the Value-Added Tax Acts, 1972 to 1980, and may be cited together therewith as the Value-Added Tax Acts, 1972 to 1981.
(5) Part IV of this Act shall be construed together with the Capital Acquisitions Tax Act, 1976 , and the enactments amending or extending that Act.
(6) Part V of this Act shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.
(7) Part I of this Act shall, save as is otherwise expressly provided therein, be deemed to have come into force and shall take effect as on and from the 6th day of April, 1981.
(8) Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment including this Act.