FINANCE ACT, 2001 (2001_act_7) | IE

ISB Act 2001-03-30

Schedule 1 FINANCE ACT, 2001 Open official source

SCHEDULE 1 Amendments Consequential on Changes in Personal Reliefs

Amendments Consequential on Changes in Personal Reliefs

Section 2.

1. As respects the year of assessment 2001 and subsequent years of assessment, the Taxes Consolidation Act, 1997, is amended as follows—

(a) in subsection (1) of section 3—

(i) by the insertion of the following definitions before the definition of “higher rate”

“‘chargeable tax’, in relation to an individual for a year of assessment, means the amount of income tax to which the individual is chargeable for that year of assessment under section 15 in respect of his or her total income for that year including, in the case of an individual assessed to tax in accordance with the provisions of section 1017, the total income, if any, of the individual's spouse;

‘general tax credit’, in relation to an individual for a year of assessment, means any relief (other than a credit under section 59) applicable for that year of assessment, not by way of deduction from income, but by way of reduction of or deduction from the chargeable tax or by way of repayment thereof when paid, other than a personal tax credit, and such credit shall be determined by reference to the amount of the reduction, deduction or repayment as the case may be;”, and

(ii) by the insertion of the following definitions before the definition of “relative”

“‘income tax payable’, in relation to an individual for a year of assessment, means the chargeable tax less the aggregate of the personal tax credits and general tax credits;

‘personal tax credit’, in relation to an individual for a year of assessment, means a tax credit specified in sections 461, 461A, 462, 463, 464, 465, 466, 466A, 468 and 472;”,

(b) in section 126, by the substitution in subsection (7) of the following for paragraphs (a) and (b)

“(a) The Revenue Commissioners may, in order to provide for the efficient collection and recovery of any tax due in respect of benefits to which subsection (3) applies, make regulations modifying the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960), in their application to those benefits, the employees in receipt of those benefits, the reliefs from income tax appropriate to such employees, and employers of such employees or certificates of tax credits and standard rate cut-off point or tax deduction cards held by employers of such employees in respect of those employees.

(b) Without prejudice to the generality of paragraph (a), regulations under that paragraph may include provision for the reallocation by the Revenue Commissioners (without the issue of amended notices of determination of tax credits and standard rate cut-off point, amended certificates of tax credits and standard rate cut-off point and amended tax deduction cards) of the reliefs from income tax appropriate to employees between the benefits to which subsection (3) applies and other emoluments receivable by them.”,

(c) in section 128, by the substitution, in subsection (2A)(inserted by the Finance Act, 2000), of the following for paragraph (a)

“(a) that amount is deducted in accordance with regulations made under section 986 in determining the amount of his or her tax credits and standard rate cut-off point, or”,

(d) in section 187—

(i) by the substitution of the following for subsection (1)

“(1) In this section, ‘the specified amount’ means, subject to subsection (2)—

(a) in a case where the individual would apart from this section be entitled to a tax credit specified in section 461(a) (inserted by the Finance Act, 2001), £6,068, and

(b) in any other case, £3,034.”,

and

(ii) in paragraph (a) of subsection (2), by the substitution of “£333” for “£450”, in both places where it occurs, and of “£481” for “£650”,

(e) in section 458—

(i) in subsection (1), by the substitution of the following for paragraph (b)

“(b) to have the income tax to be charged on the individual reduced by such tax credits and other reductions as are specified in the provisions referred to in Part 2 of that Table, but subject to subsection (1A) and those provisions.”,

(ii) by the insertion after subsection (1) of the following

“(1A) Where an individual is entitled to a tax credit specified in a provision referred to in Part 2 of the Table to this section, the income tax to be charged on the individual for the year of assessment, other than in accordance with section 16(2), shall be reduced by the lesser of—

(a) the amount of the tax credit, or

(b) the amount which reduces that income tax to nil.”,

(iii) in subsection (2), by the substitution of the following for paragraph (b)

“(b) any such tax credits or reductions in tax as are specified in the provisions referred to in Part 2 of the Table to this section.”,

and

(iv) in Part 2 of the Table to the section, by the substitution of “Section 461” for “Section 461(2)”,

(f) by the substitution of the following for section 461 (inserted by the Finance Act, 1999)

“Basic personal tax credit.

461.—In relation to any year of assessment, an individual shall be entitled to a tax credit (to be known as the ‘basic personal tax credit’) of— (a) £1,628, in a case in which the claimant is a married person who— (i) is assessed to tax for the year of assessment in accordance with section 1017, or (ii) proves that his or her spouse is not living with him or her but is wholly or mainly maintained by him or her for the year of assessment and that the claimant is not entitled, in computing his or her income for tax purposes for that year, to make any deduction in respect of the sums paid by him or her for the maintenance of his or her spouse, (b) £1,628, in a case in which the claimant in the year of assessment is a widowed person, other than a person to whom paragraph (a) applies, whose spouse has died in the year of assessment, and (c) £814, in the case of any other claimant.”,

461.—In relation to any year of assessment, an individual shall be entitled to a tax credit (to be known as the ‘basic personal tax credit’) of—

(a) £1,628, in a case in which the claimant is a married person who—

(i) is assessed to tax for the year of assessment in accordance with section 1017, or

(ii) proves that his or her spouse is not living with him or her but is wholly or mainly maintained by him or her for the year of assessment and that the claimant is not entitled, in computing his or her income for tax purposes for that year, to make any deduction in respect of the sums paid by him or her for the maintenance of his or her spouse,

(b) £1,628, in a case in which the claimant in the year of assessment is a widowed person, other than a person to whom paragraph (a) applies, whose spouse has died in the year of assessment, and

(c) £814, in the case of any other claimant.”,

(g) by the substitution of the following for section 461A (inserted by the Finance Act, 2000)

“Additional tax credit for certain widowed persons.

461A.—A widowed person, other than a person to whom paragraph (a) or (b) of section 461, or to whom section 462, applies, shall, in addition to the basic personal tax credit referred to in section 461(c), be entitled to a tax credit (to be known as the ‘widowed person tax credit’) of £148.”,

(h) by the substitution of the following for section 462 (inserted by the Finance Act, 1999)

“One-parent family tax credit.

462.—(1) (a) In this section, ‘qualifying child’, in relation to any claimant and year of assessment, means— (i) a child— (I) born in the year of assessment, (II) who, at the commencement of the year of assessment, is under the age of 18 years, or (III) who, if over the age of 18 years at the commencement of the year of assessment— (A) is receiving full-time instruction at any university, college, school or other educational establishment, or (B) is permanently incapacitated by reason of mental or physical infirmity from maintaining himself or herself and had become so permanently incapacitated before he or she had attained the age of 21 years or had become so permanently incapacitated after attaining the age of 21 years but while he or she had been in receipt of such full-time instruction, and (ii) a child who is a child of the claimant or, not being such a child, is in the custody of the claimant and is maintained by the claimant at the claimant's own expense for the whole or part of the year of assessment. (b) This section shall apply to an individual who is not entitled to a basic personal tax credit mentioned in paragraph (a) or paragraph (b) of section 461. (2) Subject to subsection (3), where a claimant, being an individual to whom this section applies, proves for a year of assessment that a qualifying child is resident with him or her for the whole or part of the year, the claimant shall be entitled to a tax credit (to be known as the ‘one-parent family tax credit’) of £814, but this section shall not apply for any year of assessment in the case of a husband or a wife where the wife is living with her husband, or in the case of a man and woman living together as man and wife. (3) A claimant shall be entitled to only one tax credit under subsection (2) for any year of assessment irrespective of the number of qualifying children resident with the claimant in that year. (4) (a) The references in subsection (1)(a) to a child receiving full-time instruction at an educational establishment shall include references to a child undergoing training by any person (in this subsection referred to as ‘the employer’) for any trade or profession in such circumstances that the child is required to devote the whole of his or her time to the training for a period of not less than 2 years. (b) For the purpose of a claim in respect of a child undergoing training, the inspector may require the employer to furnish particulars with respect to the training of the child in such form as may be prescribed by the Revenue Commissioners. (5) Where any question arises as to whether any person is entitled to a tax credit under this section in respect of a child over the age of 18 years as being a child who is receiving full-time instruction referred to in this section, the Revenue Commissioners may consult the Minister for Education and Science.”,

462.—(1) (a) In this section, ‘qualifying child’, in relation to any claimant and year of assessment, means—

(i) a child—

(I) born in the year of assessment,

(II) who, at the commencement of the year of assessment, is under the age of 18 years, or

(III) who, if over the age of 18 years at the commencement of the year of assessment—

(A) is receiving full-time instruction at any university, college, school or other educational establishment, or

(B) is permanently incapacitated by reason of mental or physical infirmity from maintaining himself or herself and had become so permanently incapacitated before he or she had attained the age of 21 years or had become so permanently incapacitated after attaining the age of 21 years but while he or she had been in receipt of such full-time instruction,

and

(ii) a child who is a child of the claimant or, not being such a child, is in the custody of the claimant and is maintained by the claimant at the claimant's own expense for the whole or part of the year of assessment.

(b) This section shall apply to an individual who is not entitled to a basic personal tax credit mentioned in paragraph (a) or paragraph (b) of section 461.

(2) Subject to subsection (3), where a claimant, being an individual to whom this section applies, proves for a year of assessment that a qualifying child is resident with him or her for the whole or part of the year, the claimant shall be entitled to a tax credit (to be known as the ‘one-parent family tax credit’) of £814, but this section shall not apply for any year of assessment in the case of a husband or a wife where the wife is living with her husband, or in the case of a man and woman living together as man and wife.

(3) A claimant shall be entitled to only one tax credit under subsection (2) for any year of assessment irrespective of the number of qualifying children resident with the claimant in that year.

(4) (a) The references in subsection (1)(a) to a child receiving full-time instruction at an educational establishment shall include references to a child undergoing training by any person (in this subsection referred to as ‘the employer’) for any trade or profession in such circumstances that the child is required to devote the whole of his or her time to the training for a period of not less than 2 years.

(b) For the purpose of a claim in respect of a child undergoing training, the inspector may require the employer to furnish particulars with respect to the training of the child in such form as may be prescribed by the Revenue Commissioners.

(5) Where any question arises as to whether any person is entitled to a tax credit under this section in respect of a child over the age of 18 years as being a child who is receiving full-time instruction referred to in this section, the Revenue Commissioners may consult the Minister for Education and Science.”,

(i) by the substitution of the following for section 463 (inserted by the Finance Act, 2000)

“Widowed parent tax credit.

463.—(1) In this section— ‘claimant’ means an individual whose spouse dies in a year of assessment; ‘qualifying child’, in relation to a claimant and a year of assessment, has the same meaning as in section 462, and the question of whether a child is a qualifying child shall be determined on the same basis as it would be for the purposes of section 462, and subsections (3), (4) and (5) of that section shall apply accordingly. (2) Where a claimant proves, in relation to any of the 5 years of assessment immediately following the year of assessment in which the claimant's spouse dies, that— (a) he or she has not remarried before the commencement of the year, and (b) a qualifying child is resident with him or her for the whole or part of the year, the claimant shall, in respect of each of the years in relation to which the claimant so proves, be entitled to a tax credit (to be known as ‘the widowed parent tax credit’) as follows— (i) for the first of those 5 years, £2,000, (ii) for the second of those 5 years, £1,600, (iii) for the third of those 5 years, £1,200, (iv) for the fourth of those 5 years, £800, and (v) for the fifth of those 5 years, £400, but this section shall not apply for any year of assessment in the case of a man and woman living together as man and wife.”,

463.—(1) In this section—

‘claimant’ means an individual whose spouse dies in a year of assessment;

‘qualifying child’, in relation to a claimant and a year of assessment, has the same meaning as in section 462, and the question of whether a child is a qualifying child shall be determined on the same basis as it would be for the purposes of section 462, and subsections (3), (4) and (5) of that section shall apply accordingly.

(2) Where a claimant proves, in relation to any of the 5 years of assessment immediately following the year of assessment in which the claimant's spouse dies, that—

(a) he or she has not remarried before the commencement of the year, and

(b) a qualifying child is resident with him or her for the whole or part of the year,

the claimant shall, in respect of each of the years in relation to which the claimant so proves, be entitled to a tax credit (to be known as ‘the widowed parent tax credit’) as follows—

(i) for the first of those 5 years, £2,000,

(ii) for the second of those 5 years, £1,600,

(iii) for the third of those 5 years, £1,200,

(iv) for the fourth of those 5 years, £800, and

(v) for the fifth of those 5 years, £400,

but this section shall not apply for any year of assessment in the case of a man and woman living together as man and wife.”,

(j) by the substitution of the following for section 464 (inserted by the Finance Act, 2000)

“Age tax credit.

464.—Where for any year of assessment an individual is entitled to a basic personal tax credit under section 461 and proves that at any time during that year of assessment— (a) the individual, or (b) in the case of a married person whose spouse is living with him or her and who is assessed to tax in accordance with section 1017, either the individual or the individual's spouse, was of the age of 65 years or over, the individual shall, in addition to the tax credit to which the individual is entitled under section 461 for that year of assessment, be entitled to an additional tax credit (to be known as the ‘age tax credit’) of— (i) in a case where the individual is a married person whose spouse is living with him or her and the individual is assessed to tax in accordance with section 1017, £238, and (ii) in any other case, £119.”,

464.—Where for any year of assessment an individual is entitled to a basic personal tax credit under section 461 and proves that at any time during that year of assessment—

(a) the individual, or

(b) in the case of a married person whose spouse is living with him or her and who is assessed to tax in accordance with section 1017, either the individual or the individual's spouse,

was of the age of 65 years or over, the individual shall, in addition to the tax credit to which the individual is entitled under section 461 for that year of assessment, be entitled to an additional tax credit (to be known as the ‘age tax credit’) of—

(i) in a case where the individual is a married person whose spouse is living with him or her and the individual is assessed to tax in accordance with section 1017, £238, and

(ii) in any other case, £119.”,

(k) by the substitution of the following for section 465 (inserted by the Finance Act, 2000)

“Incapacitated child tax credit.

465.—(1) Where a claimant proves that he or she has living at any time during a year of assessment any child who— (a) is under the age of 18 years and is permanently incapacitated by reason of mental or physical infirmity, or (b) if over the age of 18 years at the commencement of the year, is permanently incapacitated by reason of mental or physical infirmity from maintaining himself or herself and had become so permanently incapacitated before he or she had attained the age of 21 years or had become so permanently incapacitated after attaining the age of 21 years but while he or she had been in receipt of full-time instruction at any university, college, school or other educational establishment, the claimant shall, subject to this section, be entitled in respect of each such child to a tax credit (to be known as the ‘incapacitated child tax credit’) of £238. (2) (a) A child under the age of 18 years shall be regarded as permanently incapacitated by reason of mental or physical infirmity only if the infirmity is such that there would be a reasonable expectation that if the child were over the age of 18 years the child would be incapacitated from maintaining himself or herself. (b) A tax credit under this section shall be in substitution for and not in addition to any tax credit to which the individual might be entitled in respect of the same child under section 466. (3) Where the claimant proves for the year of assessment— (a) that the claimant has the custody of and maintains at his or her own expense any child who, but for the fact that that child is not a child of the claimant, would be a child referred to in subsection (1), and (b) that neither the claimant nor any other individual is entitled to a tax credit in respect of the same child under subsection (1) or under any other provision of this Part (other than section 466A), or, if any other individual is entitled to such a tax credit, that such other individual has relinquished his or her claim to that tax credit, the claimant shall be entitled to the same tax credit in respect of the child as if the child were a child of the claimant. (4) (a) The reference in subsection (1) to a child receiving full-time instruction at an educational establishment shall include a reference to a child undergoing training by any person (in this subsection referred to as ‘the employer’) for any trade or profession in such circumstances that the child is required to devote the whole of his or her time to the training for a period of not less than 2 years. (b) For the purpose of a claim in respect of a child undergoing training, the inspector may require the employer to furnish particulars with respect to the training of the child in such form as may be prescribed by the Revenue Commissioners. (5) Where any question arises as to whether any person is entitled to a tax credit under this section in respect of a child over the age of 21 years as being a child who had become permanently incapacitated by reason of mental or physical infirmity from maintaining himself or herself after attaining that age but while in receipt of full-time instruction referred to in this section, the Revenue Commissioners may consult the Minister for Education and Science. (6) Where for any year of assessment 2 or more individuals are or would but for this subsection be entitled under this section to relief in respect of the same child, the following provisions shall apply: (a) only one tax credit under this section shall be allowed in respect of the child; (b) where the child is maintained by one individual only, that individual only shall be entitled to claim such tax credit; (c) where the child is maintained jointly by two or more individuals, each of those individuals shall be entitled to claim such part of such tax credit as is proportionate to the amount expended by him or her on the maintenance of the child; (d) in ascertaining for the purposes of this subsection whether an individual maintains a child and, if so, to what extent, any payment made by the individual for or towards the maintenance of the child which the individual is entitled to deduct in computing his or her total income for the purposes of the Income Tax Acts shall be deemed not to be a payment for or towards the maintenance of the child.”,

465.—(1) Where a claimant proves that he or she has living at any time during a year of assessment any child who—

(a) is under the age of 18 years and is permanently incapacitated by reason of mental or physical infirmity, or

(b) if over the age of 18 years at the commencement of the year, is permanently incapacitated by reason of mental or physical infirmity from maintaining himself or herself and had become so permanently incapacitated before he or she had attained the age of 21 years or had become so permanently incapacitated after attaining the age of 21 years but while he or she had been in receipt of full-time instruction at any university, college, school or other educational establishment,

the claimant shall, subject to this section, be entitled in respect of each such child to a tax credit (to be known as the ‘incapacitated child tax credit’) of £238.

(2) (a) A child under the age of 18 years shall be regarded as permanently incapacitated by reason of mental or physical infirmity only if the infirmity is such that there would be a reasonable expectation that if the child were over the age of 18 years the child would be incapacitated from maintaining himself or herself.

(b) A tax credit under this section shall be in substitution for and not in addition to any tax credit to which the individual might be entitled in respect of the same child under section 466.

(3) Where the claimant proves for the year of assessment—

(a) that the claimant has the custody of and maintains at his or her own expense any child who, but for the fact that that child is not a child of the claimant, would be a child referred to in subsection (1), and

(b) that neither the claimant nor any other individual is entitled to a tax credit in respect of the same child under subsection (1) or under any other provision of this Part (other than section 466A), or, if any other individual is entitled to such a tax credit, that such other individual has relinquished his or her claim to that tax credit, the claimant shall be entitled to the same tax credit in respect of the child as if the child were a child of the claimant.

(4) (a) The reference in subsection (1) to a child receiving full-time instruction at an educational establishment shall include a reference to a child undergoing training by any person (in this subsection referred to as ‘the employer’) for any trade or profession in such circumstances that the child is required to devote the whole of his or her time to the training for a period of not less than 2 years.

(b) For the purpose of a claim in respect of a child undergoing training, the inspector may require the employer to furnish particulars with respect to the training of the child in such form as may be prescribed by the Revenue Commissioners.

(5) Where any question arises as to whether any person is entitled to a tax credit under this section in respect of a child over the age of 21 years as being a child who had become permanently incapacitated by reason of mental or physical infirmity from maintaining himself or herself after attaining that age but while in receipt of full-time instruction referred to in this section, the Revenue Commissioners may consult the Minister for Education and Science.

(6) Where for any year of assessment 2 or more individuals are or would but for this subsection be entitled under this section to relief in respect of the same child, the following provisions shall apply

(a) only one tax credit under this section shall be allowed in respect of the child;

(b) where the child is maintained by one individual only, that individual only shall be entitled to claim such tax credit;

(c) where the child is maintained jointly by two or more individuals, each of those individuals shall be entitled to claim such part of such tax credit as is proportionate to the amount expended by him or her on the maintenance of the child;

(d) in ascertaining for the purposes of this subsection whether an individual maintains a child and, if so, to what extent, any payment made by the individual for or towards the maintenance of the child which the individual is entitled to deduct in computing his or her total income for the purposes of the Income Tax Acts shall be deemed not to be a payment for or towards the maintenance of the child.”,

(l) by the substitution of the following for section 466 (inserted by the Finance Act, 2000)

“Dependent relative tax credit.

466.—(1) In this section ‘specified amount’ means an amount which does not exceed by more than £163 the aggregate of the payments to which an individual is entitled in a year of assessment in respect of an old age (contributory) pension at the maximum rate under the Social Welfare (Consolidation) Act, 1993, if throughout that year of assessment such individual were entitled to such a pension and— (a) has no adult dependant or qualified children (within the meaning, in each case, of that Act), (b) is over the age of 80 years (or such other age as may be specified in that Act for the time being in place of 80 years), (c) is living alone, and (d) is ordinarily resident on an island. (2) Where for any year of assessment a claimant proves that he or she maintains at his or her own expense any person, being— (a) a relative of the claimant, or of the claimant's spouse, incapacitated by old age or infirmity from maintaining himself or herself, (b) the widowed father or widowed mother of the claimant or of the claimant's spouse, whether incapacitated or not, or (c) a son or daughter of the claimant who resides with the claimant and on whose services the claimant, by reason of old age or infirmity, is compelled to depend, and being an individual whose total income from all sources for that year of assessment does not exceed a sum equal to the specified amount, the claimant shall be entitled in respect of each individual whom the claimant so maintains to a tax credit (to be known as the ‘dependent relative tax credit’) of £33 for the year of assessment. (3) Where 2 or more individuals jointly maintain any individual referred to in paragraphs (a) to (c) of subsection (2), the tax credit to be granted under this section in respect of that individual shall be apportioned between them in proportion to the amount or value of their respective contributions towards the maintenance of that individual.”,

466.—(1) In this section ‘specified amount’ means an amount which does not exceed by more than £163 the aggregate of the payments to which an individual is entitled in a year of assessment in respect of an old age (contributory) pension at the maximum rate under the Social Welfare (Consolidation) Act, 1993, if throughout that year of assessment such individual were entitled to such a pension and—

(a) has no adult dependant or qualified children (within the meaning, in each case, of that Act),

(b) is over the age of 80 years (or such other age as may be specified in that Act for the time being in place of 80 years),

(c) is living alone, and

(d) is ordinarily resident on an island.

(2) Where for any year of assessment a claimant proves that he or she maintains at his or her own expense any person, being—

(a) a relative of the claimant, or of the claimant's spouse, incapacitated by old age or infirmity from maintaining himself or herself,

(b) the widowed father or widowed mother of the claimant or of the claimant's spouse, whether incapacitated or not, or

(c) a son or daughter of the claimant who resides with the claimant and on whose services the claimant, by reason of old age or infirmity, is compelled to depend,

and being an individual whose total income from all sources for that year of assessment does not exceed a sum equal to the specified amount, the claimant shall be entitled in respect of each individual whom the claimant so maintains to a tax credit (to be known as the ‘dependent relative tax credit’) of £33 for the year of assessment.

(3) Where 2 or more individuals jointly maintain any individual referred to in paragraphs (a) to (c) of subsection (2), the tax credit to be granted under this section in respect of that individual shall be apportioned between them in proportion to the amount or value of their respective contributions towards the maintenance of that individual.”,

(m) by the substitution of the following section for section 466A (inserted by the Finance Act, 2000)

“Home carer tax credit.

466A.—(1) In this section— ‘dependent person’, in relation to a qualifying claimant, means a person (other than the spouse of the qualifying claimant) who, subject to subsection (3), resides with that qualifying claimant and who is— (a) a child in respect of whom either the qualifying claimant or his or her spouse is, at any time in a year of assessment, in receipt of child benefit under Part IV of the Social Welfare (Consolidation) Act, 1993, or (b) an individual who, at any time during a year of assessment, is of the age of 65 years or over, or (c) an individual who is permanently incapacitated by reason of mental or physical infirmity; ‘qualifying claimant’, in relation to a year of assessment, means an individual— (a) who is assessed to tax for that year in accordance with section 1017, and (b) who, or whose spouse (in this section referred to as the ‘carer spouse’) is engaged during that year in caring for one or more dependent persons; ‘relative’, in relation to a qualifying claimant, includes a relation by marriage and a person in respect of whom the qualifying claimant is or was the legal guardian. (2) Where for any year of assessment an individual proves that he or she is a qualifying claimant he or she shall be entitled to a tax credit (to be known as the ‘home carer tax credit’) of £444. (3) For the purposes of this section— (a) a dependent person in relation to a qualifying claimant who is a relative of that claimant or the claimant's spouse shall be regarded as residing with the qualifying claimant if— (i) the relative lives in close proximity to the qualifying claimant, and (ii) a direct system of communication exists between the qualifying claimant's residence and the residence of the relative, and (b) a qualifying claimant and a relative shall be regarded as living in close proximity if they reside— (i) next door in adjacent residences, or (ii) on the same property, or (iii) within 2 kilometres of each other. (4) A qualifying claimant shall be entitled to only one tax credit under subsection (2) for any year of assessment irrespective of the number of dependent persons resident with the qualifying claimant in that year. (5) A tax credit under this section in respect of a dependent person shall be granted to one and only one qualifying claimant being the person with whom that dependent person normally resides or, where subsection (3) applies, the person who, or whose spouse, normally cares for the dependent person. (6) (a) Where in any year of assessment the carer spouse is entitled in his or her own right to an income exceeding £2,960 in that year, the tax credit shall be reduced by one-half of the amount of that excess. (b) For the purposes of paragraph (a), no account shall be taken of— (i) any Carer's Benefit payable under Chapter 11A (inserted by the Social Welfare Act, 2000) of Part II of the Social Welfare (Consolidation) Act, 1993, or (ii) any Carer's Allowance payable under Chapter 10 of Part III of that Act. (7) (a) Notwithstanding subsection (6) but subject to the other provisions of this section including this subsection, a tax credit may be granted for a year of assessment where the claimant was entitled to a tax credit under this section for the immediately preceding year of assessment. (b) Where a tax credit is to be granted for a year of assessment by virtue of paragraph (a), it shall not exceed the amount of the tax credit granted in the immediately preceding year of assessment. (c) A tax credit shall not be granted for a year of assessment by virtue of paragraph (a) if it was so granted for the immediately preceding year of assessment. (8) Where for any year of assessment a tax credit is granted to an individual under this section, the individual shall not also be entitled to the benefit of the provision contained in section 15(3) but the individual may elect by notice in writing to the inspector to have the benefit under the said section granted instead of the tax credit granted under this section.”,

466A.—(1) In this section—

‘dependent person’, in relation to a qualifying claimant, means a person (other than the spouse of the qualifying claimant) who, subject to subsection (3), resides with that qualifying claimant and who is—

(a) a child in respect of whom either the qualifying claimant or his or her spouse is, at any time in a year of assessment, in receipt of child benefit under Part IV of the Social Welfare (Consolidation) Act, 1993, or

(b) an individual who, at any time during a year of assessment, is of the age of 65 years or over, or

(c) an individual who is permanently incapacitated by reason of mental or physical infirmity;

‘qualifying claimant’, in relation to a year of assessment, means an individual—

(a) who is assessed to tax for that year in accordance with section 1017, and

(b) who, or whose spouse (in this section referred to as the ‘carer spouse’) is engaged during that year in caring for one or more dependent persons;

‘relative’, in relation to a qualifying claimant, includes a relation by marriage and a person in respect of whom the qualifying claimant is or was the legal guardian.

(2) Where for any year of assessment an individual proves that he or she is a qualifying claimant he or she shall be entitled to a tax credit (to be known as the ‘home carer tax credit’) of £444.

(3) For the purposes of this section—

(a) a dependent person in relation to a qualifying claimant who is a relative of that claimant or the claimant's spouse shall be regarded as residing with the qualifying claimant if—

(i) the relative lives in close proximity to the qualifying claimant, and

(ii) a direct system of communication exists between the qualifying claimant's residence and the residence of the relative,

and

(b) a qualifying claimant and a relative shall be regarded as living in close proximity if they reside—

(i) next door in adjacent residences, or

(ii) on the same property, or

(iii) within 2 kilometres of each other.

(4) A qualifying claimant shall be entitled to only one tax credit under subsection (2) for any year of assessment irrespective of the number of dependent persons resident with the qualifying claimant in that year.

(5) A tax credit under this section in respect of a dependent person shall be granted to one and only one qualifying claimant being the person with whom that dependent person normally resides or, where subsection (3) applies, the person who, or whose spouse, normally cares for the dependent person.

(6) (a) Where in any year of assessment the carer spouse is entitled in his or her own right to an income exceeding £2,960 in that year, the tax credit shall be reduced by one-half of the amount of that excess.

(b) For the purposes of paragraph (a), no account shall be taken of—

(i) any Carer's Benefit payable under Chapter 11A (inserted by the Social Welfare Act, 2000) of Part II of the Social Welfare (Consolidation) Act, 1993, or

(ii) any Carer's Allowance payable under Chapter 10 of Part III of that Act.

(7) (a) Notwithstanding subsection (6) but subject to the other provisions of this section including this subsection, a tax credit may be granted for a year of assessment where the claimant was entitled to a tax credit under this section for the immediately preceding year of assessment.

(b) Where a tax credit is to be granted for a year of assessment by virtue of paragraph (a), it shall not exceed the amount of the tax credit granted in the immediately preceding year of assessment.

(c) A tax credit shall not be granted for a year of assessment by virtue of paragraph (a) if it was so granted for the immediately preceding year of assessment.

(8) Where for any year of assessment a tax credit is granted to an individual under this section, the individual shall not also be entitled to the benefit of the provision contained in section 15(3) but the individual may elect by notice in writing to the inspector to have the benefit under the said section granted instead of the tax credit granted under this section.”,

(n) by the substitution of the following for section 468 (inserted by the Finance Act, 2000)

“Blind person's tax credit.

468.—(1) In this section, ‘blind person’ means a person whose central visual acuity does not exceed 6/60 in the better eye with correcting lenses, or whose central visual acuity exceeds 6/60 in the better eye or in both eyes but is accompanied by a limitation in the fields of vision that is such that the widest diameter of the visual field subtends an angle no greater than 20 degrees. (2) Where an individual proves for a year of assessment that— (a) he or she was for the whole or any part of the year of assessment a blind person, or (b) where he or she is assessed to tax in accordance with section 1017, either or both he or she and his or her spouse was for the whole or any part of the year of assessment a blind person, the individual shall be entitled to a tax credit (to be known as the ‘blind person's tax credit’) of £444, or where the individual and his or her spouse are both blind, £888.”,

468.—(1) In this section, ‘blind person’ means a person whose central visual acuity does not exceed 6/60 in the better eye with correcting lenses, or whose central visual acuity exceeds 6/60 in the better eye or in both eyes but is accompanied by a limitation in the fields of vision that is such that the widest diameter of the visual field subtends an angle no greater than 20 degrees.

(2) Where an individual proves for a year of assessment that—

(a) he or she was for the whole or any part of the year of assessment a blind person, or

(b) where he or she is assessed to tax in accordance with section 1017, either or both he or she and his or her spouse was for the whole or any part of the year of assessment a blind person,

the individual shall be entitled to a tax credit (to be known as the ‘blind person's tax credit’) of £444, or where the individual and his or her spouse are both blind, £888.”,

(o) by the substitution of the following for section 472 (inserted by the Finance Act, 1999)

“Employee tax credit.

472.—(1) (a) In this section— ‘appropriate percentage’, in relation to a year of assessment, means a percentage equal to the standard rate of tax for that year; ‘emoluments’ means emoluments to which Chapter 4 of Part 42 applies or is applied, but does not include— (i) emoluments paid directly or indirectly by a body corporate (or by any person who would be regarded as connected with the body corporate) to a proprietary director of the body corporate or to the spouse or child of such a proprietary director, and (ii) emoluments paid directly or indirectly by an individual (or by a partnership in which the individual is a partner) to the spouse or child of the individual; ‘director’ means— (i) in relation to a body corporate the affairs of which are managed by a board of directors or similar body, a member of that board or body, (ii) in relation to a body corporate the affairs of which are managed by a single director or similar person, that director or person, and (iii) in relation to a body corporate the affairs of which are managed by the members themselves, a member of the body corporate, and includes any person who is or has been a director; ‘proprietary director’ means a director of a company who is either the beneficial owner of, or able, either directly or through the medium of other companies or by any other indirect means, to control, more than 15 per cent of the ordinary share capital of the company; ‘specified employed contributor’ means a person who is an employed contributor for the purposes of the Social Welfare (Consolidation) Act, 1993, but does not include a person— (i) who is an employed contributor for those purposes by reason only of section 9(1)(b) of that Act, or (ii) to whom Article 81, 82 or 83 of the Social Welfare (Consolidated Contributions and Insurability) Regulations, 1996 (S.I. No. 312 of 1996), applies. (b) For the purposes of the definition of ‘proprietary director’, ordinary share capital which is owned or controlled as referred to in that definition by a person, being a spouse or a minor child of a director, or by a trustee of a trust for the benefit of a person or persons, being or including any such person or such director, shall be deemed to be owned or controlled by such director and not by any other person. (2) The exclusion from the definition of ‘emoluments’ of the emoluments referred to in subparagraphs (i) and (ii) of that definition shall not apply for any year of assessment to any such emoluments paid to an individual, being a child (other than a child who is a proprietary director) to whom subparagraph (i) or (ii) of that definition relates, if for that year— (a) (i) the individual is a specified employed contributor, or (ii) the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960), in so far as they apply, have, in relation to any such emoluments paid to the individual in the year of assessment, been complied with by the person by whom the emoluments are paid, (b) the conditions of the office or employment, in respect of which any such emoluments are paid, are such that the individual is required to devote, throughout the year of assessment, substantially the whole of the individual's time to the duties of the office or employment and the individual does in fact do so, and (c) the amount of any such emoluments paid to the individual in the year of assessment are not less than £2,664. (3) Where an individual is in receipt of profits or gains from an office or employment held or exercised outside the State, such profits or gains shall be deemed to be emoluments within the meaning of subsection (1) if such profits or gains— (a) are chargeable to tax in the country in which they arise, (b) on payment by the person making such payment, are subject to a system of tax deduction similar in form to that provided for in Chapter 4 of Part 42, (c) are chargeable to tax in the State on the full amount of such profits or gains under Schedule D, and (d) if the office or employment was held or exercised in the State and the person was resident in the State, would be emoluments within the meaning of that subsection. (4) Where, for any year of assessment, a claimant proves that his or her total income for the year consists in whole or in part of emoluments (including, in a case where the claimant is a married person assessed to tax in accordance with section 1017, any emoluments of the claimant's spouse deemed to be income of the claimant by that section for the purposes referred to in that section) the claimant shall be entitled to a tax credit (to be known as the ‘employee tax credit’) of— (a) where the emoluments (but not including, in the case where the claimant is a married person so assessed, the emoluments, if any, of the claimant's spouse) arise to the claimant, the lesser of an amount equal to the appropriate percentage of the emoluments and £296, and (b) where, in a case where the claimant is a married person so assessed, the emoluments arise to the claimant's spouse, the lesser of an amount equal to the appropriate percentage of the emoluments and £296. (5) Where a tax credit is due under this section by virtue of subsection (2), it shall be given by means of repayment of tax.”,

472.—(1) (a) In this section—

‘appropriate percentage’, in relation to a year of assessment, means a percentage equal to the standard rate of tax for that year;

‘emoluments’ means emoluments to which Chapter 4 of Part 42 applies or is applied, but does not include—

(i) emoluments paid directly or indirectly by a body corporate (or by any person who would be regarded as connected with the body corporate) to a proprietary director of the body corporate or to the spouse or child of such a proprietary director, and

(ii) emoluments paid directly or indirectly by an individual (or by a partnership in which the individual is a partner) to the spouse or child of the individual;

‘director’ means—

(i) in relation to a body corporate the affairs of which are managed by a board of directors or similar body, a member of that board or body,

(ii) in relation to a body corporate the affairs of which are managed by a single director or similar person, that director or person, and

(iii) in relation to a body corporate the affairs of which are managed by the members themselves, a member of the body corporate,

and includes any person who is or has been a director;

‘proprietary director’ means a director of a company who is either the beneficial owner of, or able, either directly or through the medium of other companies or by any other indirect means, to control, more than 15 per cent of the ordinary share capital of the company;

‘specified employed contributor’ means a person who is an employed contributor for the purposes of the Social Welfare (Consolidation) Act, 1993, but does not include a person—

(i) who is an employed contributor for those purposes by reason only of section 9(1)(b) of that Act, or

(ii) to whom Article 81, 82 or 83 of the Social Welfare (Consolidated Contributions and Insurability) Regulations, 1996 (S.I. No. 312 of 1996), applies.

(b) For the purposes of the definition of ‘proprietary director’, ordinary share capital which is owned or controlled as referred to in that definition by a person, being a spouse or a minor child of a director, or by a trustee of a trust for the benefit of a person or persons, being or including any such person or such director, shall be deemed to be owned or controlled by such director and not by any other person.

(2) The exclusion from the definition of ‘emoluments’ of the emoluments referred to in subparagraphs (i) and (ii) of that definition shall not apply for any year of assessment to any such emoluments paid to an individual, being a child (other than a child who is a proprietary director) to whom subparagraph (i) or (ii) of that definition relates, if for that year—

(a) (i) the individual is a specified employed contributor, or

(ii) the Income Tax (Employments) Regulations, 1960 (S.I. No. 28 of 1960), in so far as they apply, have, in relation to any such emoluments paid to the individual in the year of assessment, been complied with by the person by whom the emoluments are paid,

(b) the conditions of the office or employment, in respect of which any such emoluments are paid, are such that the individual is required to devote, throughout the year of assessment, substantially the whole of the individual's time to the duties of the office or employment and the individual does in fact do so, and

(c) the amount of any such emoluments paid to the individual in the year of assessment are not less than £2,664.

(3) Where an individual is in receipt of profits or gains from an office or employment held or exercised outside the State, such profits or gains shall be deemed to be emoluments within the meaning of subsection (1) if such profits or gains—

(a) are chargeable to tax in the country in which they arise,

(b) on payment by the person making such payment, are subject to a system of tax deduction similar in form to that provided for in Chapter 4 of Part 42,

(c) are chargeable to tax in the State on the full amount of such profits or gains under Schedule D, and

(d) if the office or employment was held or exercised in the State and the person was resident in the State, would be emoluments within the meaning of that subsection.

(4) Where, for any year of assessment, a claimant proves that his or her total income for the year consists in whole or in part of emoluments (including, in a case where the claimant is a married person assessed to tax in accordance with section 1017, any emoluments of the claimant's spouse deemed to be income of the claimant by that section for the purposes referred to in that section) the claimant shall be entitled to a tax credit (to be known as the ‘employee tax credit’) of—

(a) where the emoluments (but not including, in the case where the claimant is a married person so assessed, the emoluments, if any, of the claimant's spouse) arise to the claimant, the lesser of an amount equal to the appropriate percentage of the emoluments and £296, and

(b) where, in a case where the claimant is a married person so assessed, the emoluments arise to the claimant's spouse, the lesser of an amount equal to the appropriate percentage of the emoluments and £296.

(5) Where a tax credit is due under this section by virtue of subsection (2), it shall be given by means of repayment of tax.”,

(p) in section 784A (inserted by the Finance Act, 1999), by the substitution, in paragraph (a) of subsection (3), of “certificate of tax credits and standard rate cut-off point” for “certificate of tax-free allowances”,

(q) in section 885, by the substitution in subsection (1), of the following for paragraph (a) of the definition of “tax reference number”

“(a) the Personal Public Service Number (PPSN) stated on any certificate of tax credits and standard rate cut-off point issued to that person by an inspector, not being a certificate issued to an employer in respect of an employee,”,

(r) in section 903, by the substitution in the definition of “records” in subsection (1), of “certificates of tax credits and standard rate cut-off point” for “certificates of tax-free allowances”,

(s) in section 983, by the insertion of the following before the definition of “tax deduction card”

“‘reliefs from income tax’ means allowances, deductions and tax credits;

‘tax credits’ means personal tax credits and general tax credits;”,

(t) in section 986—

(i) in subsection (1)—

(I) by the substitution in paragraph (a) of “reliefs from income tax” for “allowances, deductions and reliefs”, and

(II) by the substitution of the following paragraph for paragraph (g)

“(g) for requiring any employer making any payment of emoluments to which this Chapter applies, when making a deduction or repayment of tax in accordance with this Chapter and regulations under this Chapter, to make such deduction or repayment as would require to be made if the amount of emoluments were the emoluments reduced by the amount of any contributions payable by the employee and deductible by the employer from the emoluments being paid and which—

(i) by virtue of section 471 are allowed as a deduction in ascertaining the amount of income on which the employee is to be charged to income tax, or

(ii) by virtue of Chapter 1 of Part 30 are for the purposes of assessment under Schedule E allowed as a deduction from the emoluments;”,

(ii) in subsection (3), by the substitution in paragraph (b) of “provisional reliefs from income tax” for “a provisional deduction for allowances and reliefs”, and

(iii) in subsection (4), by the substitution of “reliefs from income tax” for “allowances, deductions and reliefs”,

and

(u) in Schedule 3, by the substitution, in the construction of “T” in the formula in paragraph 10, of “income tax payable” for “income tax chargeable”.

2. As respects the year of assessment 2002 and subsequent years of assessment, the Taxes Consolidation Act, 1997, as amended by paragraph 1, is further amended as follows—

(a) in section 187—

(i) in subsection (1), by the substitution of “€10,420” for “£6,068” and of “€5,210” for “£3,034”, and

(ii) in paragraph (a) of subsection (2), by the substitution of “€575” for “£333”, in both places where it occurs, and of “€830” for “£481”,

(b) in section 461, by the substitution of “€2,794” for “£1,628”, in both places where it occurs, and of “€1,397” for “£814”,

(c) in section 461A, by the substitution of “€254” for “£148”,

(d) in section 462, by the substitution, in subsection (2), of “€1,397” for “£814”,

(e) in section 463, by the substitution in subsection (2), of “€2,540”, “€2,032”, “€1,524”, “€1,016” and “€508”, respectively, for “£2,000”, “£1,600”, “£1,200”, “£800” and “£400”,

(f) in section 464, by the substitution of “€408” and “€204”, respectively, for “£238” and “£119”,

(g) in section 465, by the substitution, in subsection (2), of “€408” for “£238”,

(h) in section 466—

(i) by the substitution in subsection (1), of “€280” for “£163”, and

(ii) by the substitution in subsection (2), of “€56” for “£33”,

(i) in section 466A, by the substitution—

(i) in subsection (2), of “€762” for “£444”, and

(ii) in paragraph (a) of subsection (6), of “€5,080” for “£2,960”,

(j) in section 468, in subsection (2), by the substitution of “€762” and “€1,524”, respectively for “£444” and “£888”, and

(k) in section 472, by the substitution—

(i) in subsection (2), of “€4,572” for “£2,664”, and

(ii) in subsection (4), of “€508” for “£296”, in both places where it occurs.

ISB Act 2001-03-30

Schedule 2 FINANCE ACT, 2001 Open official source

SCHEDULE 2 Changeover to Calendar Year of Assessment

Changeover to Calendar Year of Assessment

Section 77.

Amendment of Taxes Consolidation Act, 1997

Subject to the provisions of paragraph 61, the Taxes Consolidation Act, 1997, is amended in accordance with the following provisions of this Schedule.

Taxation of strips of securities

1. In section 55(1), in paragraph (a) of the definition of “relevant day”, for “the 5th day of April” there shall be substituted “31 December”.

Basis of assessment under Cases I and II of Schedule D

2. In section 65, after subsection (3) there shall be inserted the following

“(3A) As respects the year of assessment 2001, subsection (2) shall apply as if in both paragraph (a) and paragraph (b) of that subsection ‘74 per cent of the profits or gains of the year ending on that date’ were substituted for ‘the profits or gains of the year ending on that date’,

(3B) For the purposes of subsection (2)(a), an account made up for a period of one year to a date falling in the period from 1 January 2002 to 5 April 2002 shall, in addition to being an account made up to a date in the year of assessment 2002, be deemed to be an account for a period of one year made up to a date within the year of assessment 2001, and the corresponding period in relation to the year of assessment 2000-2001 for the purposes of subsection (3) shall be determined accordingly.

(3C) Notwithstanding subsection (3), where the profits or gains of the year of assessment 2001 have been taken to be the full amount of the profits or gains of that year of assessment in accordance with subsection (2)(c), and the full amount of the profits or gains of the year of assessment 2000-2001 exceed the profits or gains charged to income tax for that year of assessment, then, the profits or gains of the year of assessment 2000-2001 shall be taken to be the full amount of the profits or gains of that year of assessment and the assessment shall be amended accordingly.

(3D) Notwithstanding subsection (3), where the profits or gains of a period of one year ending in the year of assessment 2002 have been taken to be the profits or gains of that year of assessment in accordance with subsection (2)(b), and the profits or gains charged to income tax for the year of assessment 2001 are less than 74 per cent of the profits or gains of the corresponding period relating to the year of assessment 2001, then, the profits or gains of the year of assessment 2001 shall be taken to be 74 per cent of the profits or gains of that corresponding period and the assessment shall be amended accordingly.

(3E) For the purposes of subsection (3D), where, apart from this subsection, a period (in this subsection referred to as the ‘relevant period’) would not be treated as the corresponding period relating to the year of assessment 2001 by virtue of the fact that the relevant period ends on a date falling in the period from 1 January 2001 to 5 April 2001, the relevant period shall, notwithstanding any other provision of the Income Tax Acts, be treated as the corresponding period relating to that year of assessment.

(3F) Notwithstanding subsection (3), where the profits or gains of the year of assessment 2002 have been taken to be the full amount of the profits or gains of that year of assessment in accordance with subsection (2)(c), and the full amount of the profits or gains of the year of assessment 2001 exceed the profits or gains charged to income tax for that year of assessment, then, the profits or gains of the year of assessment 2001 shall be taken to be the full amount of the profits or gains of that year of assessment and the assessment shall be amended accordingly.”.

Special basis at commencement of trade or profession

3. In section 66, after subsection (3) there shall be inserted the following

“(3A) As respects the year of assessment 2001, subsection (2) shall apply as if in both paragraph (a) and paragraph (b) of that subsection ‘74 per cent of the full amount of the profits or gains’ were substituted for ‘the full amount of the profits or gains’.

(3B) As respects the year of assessment 2002—

(a) subsection (2) shall apply as if ‘within the period from 6 April 2001 to 31 December 2001’ were substituted for ‘within one year preceding the year of assessment’, and

(b) subsection (3) shall apply as if ‘within the period from 6 April 2000 to 5 April 2001’ were substituted for ‘within the year next before the year preceding the year of assessment’.

(3C) As respects the year of assessment 2003, subsection (3) shall apply as if ‘within the period from 6 April 2001 to 31 December 2001’ were substituted for ‘within the year next before the year preceding the year of assessment’.”.

Special basis on discontinuance of trade or profession

4. In section 67(1)(a)—

(a) in subparagraph (i), for “the 6th day of April in that year” there shall be substituted “the first day of the year of assessment”,

and

(b) for subparagraph (ii) there shall be substituted the following

“(ii) if the full amount of the profits or gains of the year of assessment preceding the year of assessment in which the discontinuance occurs exceeds the amount on which that person has been charged for that preceding year of assessment, or would have been charged if no such deduction or set-off to which such person may be entitled under section 382 had been allowed, an additional assessment may be made on such person, so that such person shall be charged for that preceding year of assessment on the full amount of the profits or gains of that preceding year of assessment, subject to any such deduction or set-off to which such person may be entitled.”.

Schedule E: basis of assessment, persons chargeable and extent of charge

5. In section 112(1), for “shall be charged annually” there shall be substituted “shall be charged for each year of assessment”.

Fixed deduction for certain classes of persons

6. In section 115, for “the average annual amount” there shall be substituted “the average amount for a year of assessment”.

Expenses allowances and provisions relating to general benefits in kind charge

7. In section 116(3), for “£1,500” (in both places where it occurs) there shall be substituted “£1,110”.

Benefit of use of car

8. In section 121—

(a) in subsection (3), after paragraph (b) there shall be inserted the following

“(c) Notwithstanding paragraphs (a) and (b), the cash equivalent of the benefit of a car for the year of assessment 2001 shall be 74 per cent of the amount of the cash equivalent of the car for that year as ascertained under those paragraphs.”,

(b) after subsection (4) there shall be inserted the following

“(4A) As respects the year of assessment 2001, subsection (4) shall apply—

(a) as if in paragraph (a) of that subsection ‘11,100 miles’ were substituted for ‘15,000 miles’,

and

(b) as if the following were substituted for the Table to that subsection

‘TABLE

Business mileage

Percentage

lower limit

upper limit

(1)

(2)

(3)

Miles

11,100

11,840

97.5 per cent

11,840

12,580

95 per cent

12,580

13,320

90 per cent

13,320

14,060

85 per cent

14,060

14,800

80 per cent

14,800

15,540

75 per cent

15,540

16,280

70 per cent

16,280

17,020

65 per cent

17,020

17,760

60 per cent

17,760

18,500

55 per cent

18,500

19,240

50 per cent

19,240

19,980

45 per cent

19,980

20,720

40 per cent

20,720

21,460

35 per cent

21,460

22,200

30 per cent

22,200

--

25 per cent

’.”,

(c) in subsection (5), after paragraph (a) there shall be inserted the following

“(aa) As respects the year of assessment 2001, paragraph (a) shall apply as if in subparagraph (ii) of that paragraph ‘3,700 miles’ were substituted for ‘5,000 miles’.”,

and

(d) in subsection (6), after paragraph (b) there shall be inserted the following

“(bb) As respects the year of assessment 2001, paragraph (b) shall apply as if ‘3,700 miles’ were substituted for ‘5,000 miles’.”.

Deferral of payment of tax under section 128 (share options)

9. In section 128A—

(a) in subsection (3), for “31 January” there shall be substituted “31 October”,

and

(b) in subsection (4), for “1 November” (in both places where it occurs) there shall be substituted “31 October”.

Attribution of distributions to accounting periods

10. In section 154(3)(a), for “the 6th day of April, 2002,” there shall be substituted “1 January 2003”.

Deduction of dividend withholding tax on settlement of market claims

11. In section 172LA(7), for “the 21st day of May” there shall be substituted “15 February”.

Relief for agreed pay restructuring

12. In section 202(2)(g), for “6 April 2003” there shall be substituted “1 January 2004”.

Relief for interest paid on certain home loans

13. In section 244(1)(a), in the definition of “relievable interest”, for “£4,000”, “£2,000”, “£5,000” and “£2,500” there shall be substituted “£2,960”, “£1,480”, “£3,700” and “£1,850”, respectively.

Extension of relief under section 248 to certain individuals in relation to loans applied in acquiring interest in certain companies

14. In section 250(3), for “£2,400” there shall be substituted “£1,776”.

Restriction of relief to individuals on loans applied in acquiring interest in companies which become quoted companies

15. In section 252(1), in paragraph (b) of the definition of “the specified date”, for “the 6th day of April” there shall be substituted “1 January”.

Deposit interest retention tax

16. In section 258—

(a) in subsection (4)(b), for “the 6th day of April” there shall be substituted “1 January”,

and

(b) after subsection (4) there shall be inserted the following

“(4A) For the purposes of this section and subject to subsection (4B), interest payable by a relevant deposit taker in respect of a relevant deposit, other than interest which cannot be determined until the date of payment of such interest, notwithstanding that the terms under which the deposit was made are complied with fully, shall be deemed—

(a) to accrue from day to day, and

(b) to be relevant interest paid by the relevant deposit taker on 31 December in each year of assessment to the extent that—

(i) it is deemed to accrue in that year of assessment, and

(ii) it is not paid in that year of assessment,

and the relevant deposit taker shall account for appropriate tax accordingly.

(4B) (a) Where, apart from subsection (4A), a relevant deposit taker makes a payment of relevant interest which is or includes interest (in paragraph (b) referred to as ‘accrued interest’) which, by virtue of that subsection, is deemed to have been paid by the relevant deposit taker on 31 December in a year of assessment, the relevant deposit taker shall—

(i) deduct out of the whole of the amount of that payment the appropriate tax in relation to that payment in accordance with section 257, and

(ii) account for that appropriate tax under this section,

and that appropriate tax shall be due and payable by the relevant deposit taker in accordance with this section.

(b) So much of the appropriate tax paid by the relevant deposit taker by virtue of subsection (4A) as is referable to accrued interest included in a payment of relevant interest referred to in paragraph (a) shall be set off against any amount of appropriate tax due and payable by the relevant deposit taker for the year of assessment in which that payment of interest is made or against any amount, or amount on account of, appropriate tax due and payable by it for a year of assessment subsequent to that year (any such set-off being effected as far as may be against an amount so due and payable at an earlier date rather than a later date).”.

17. In section 259(2)—

(a) for “the period of 12 months” there shall be substituted “the period of 270 days”,

and

(b) in paragraph (c), for “the 5th day of April” there shall be substituted “31 December”.

18. In section 260(4)(a)(i), for “the 6th day of April,” there shall be substituted “1 January”.

Capital allowances: wear and tear allowances

19. In section 284, after subsection (3A) (inserted by the Finance Act, 1998) there shall be inserted the following

“(3B) For the purposes of subsections (2)(b) and (3A)(c), and notwithstanding any other provision of the Income Tax Acts, the length of the basis period for the year of assessment 2001 shall be deemed to be—

(a) the length of that period as determined in accordance with section 306, or

(b) 270 days,

whichever is the lesser.”.

Owner-occupier allowance: Custom House Docks Area, Temple Bar Area, Designated Areas and Designated Streets, Dublin Docklands Area, Qualifying (Urban) Areas, Qualifying Rural Areas and Designated Areas of Certain Towns

20. In sections 328, 337, 349, 371, 372I, 372RA and 372AH, after subsection (2) in each of those sections there shall be inserted the following

“(2A) Where the year of assessment first mentioned in subsection (2) or any of the 9 subsequent years of assessment is the year of assessment 2001, that subsection shall apply—

(a) as if for ‘any of the 9 subsequent years of assessment’ there were substituted ‘any of the 10 subsequent years of assessment’,

(b) as respects the year of assessment 2001, as if ‘3.7 per cent’ and ‘7.4 per cent’ were substituted for ‘5 per cent’ and ‘10 per cent’, respectively, and

(c) as respects the year of assessment which is the 10th year of assessment subsequent to the year of assessment first mentioned in that subsection, as if ‘1.3 per cent’ and ‘2.6 per cent’ were substituted for ‘5 per cent’ and ‘10 per cent’, respectively.”.

Owner-occupier allowance: Designated Islands and Park and Ride Facilities

21. In sections 364 and 372Y, after subsection (2) in each of those sections there shall be inserted the following

“(2A) Where the year of assessment first mentioned in subsection (2)(a) or any of the 9 subsequent years of assessment is the year of assessment 2001, that subsection shall apply—

(a) as if for ‘any of the 9 subsequent years of assessment’ there were substituted ‘any of the 10 subsequent years of assessment’,

(b) as respects the year of assessment 2001, as if ‘3.7 per cent’ were substituted for ‘5 per cent’, and

(c) as respects the year of assessment which is the 10th year of assessment subsequent to the year of assessment first mentioned in that subsection, as if ‘1.3 per cent’ were substituted for ‘5 per cent’.”.

Relief for health expenses

22. In section 469(2)—

(a) in paragraph (a), for “£100” there shall be substituted “£74”,

and

(b) in paragraph (b), for “£200” (in both places where it occurs) there shall be substituted “£148”.

Relief for investment in films

23. In section 481—

(a) in subsection (6), for “£200” there shall be substituted “£148”,

and

(b) in subsection (7), for “£25,000” there shall be substituted “£18,500”.

Relief for expenditure on significant buildings and gardens

24. In section 482(1)(a)—

(a) in paragraph (ii) of the definition of “qualifying expenditure”, after “£5,000” there shall be inserted “or, where the chargeable period is the year of assessment 2001, £3,700”,

and

(b) in paragraph (i)(II) of the definition of “relevant expenditure”, after “£5,000” there shall be inserted “or, where the chargeable period is the year of assessment 2001, £3,700”.

Business Expansion Scheme: limits on relief

25. In section 490—

(a) in subsection (1)(a), for “£200” there shall be substituted “£148”,

and

(b) in subsection (2), for “£25,000” there shall be substituted “£18,500”.

Business Expansion Scheme: individuals qualifying for seed capital relief

26. In section 494(2)(a)(II), after “£15,000” there shall be inserted “or, in the case of the year of assessment 2001, £11,100”.

Profit Sharing Schemes: excess or unauthorised shares

27. In section 515, in both subsections (1) and (2), for “£10,000” there shall be substituted “£7,400”.

Professional Services Withholding Tax: interpretation

28. In section 520—

(a) in subsection (1)—

(i) for subparagraph (i) of paragraph (a) of the definition of “basis period for a year of assessment” there shall be substituted the following

“(i) where 2 basis periods overlap, then, subject to subsection (3), the period common to both shall be deemed for the purposes of this Chapter to fall in the second basis period only,”,

and

(ii) for the definition of “income tax month” there shall be substituted the following

“income tax month' means—

(a) in relation to a period prior to 6 December 2001, a month beginning on the 6th day of a month and ending on the 5th day of the next month,

(b) the period beginning on 6 December 2001 and ending on 31 December 2001, and

(c) thereafter, a calendar month;”,

and

(b) after subsection (2), there shall be inserted the following

“(3) Where, by virtue of the application of subsections (2)(a) and (3B) of section 65, a specified person's basis period for the year of assessment 2002, being a 12 month period ending in the period from 1 January 2002 to 5 April 2002, is also treated as the specified person's basis period for the year of assessment 2001, that basis period shall be deemed for the purposes of this Chapter to be the basis period for the year of assessment 2001 only.”.

Professional Services Withholding Tax: returns and collection

29. In section 525(1), for “10 days” there shall be substituted “14 days”.

Professional Services Withholding Tax: interim refunds

30. In section 527, after subsection (3) there shall be inserted the following

“(3A) Where a specified person makes a claim for an interim refund of the whole or part of the appropriate tax referable to the basis period for the year of assessment 2001 or the year of assessment 2002, subsection (3) shall apply as if the reference in that subsection to the amount of tax referred to in subsection (2)(b) were a reference to—

(a) in the case where the claim relates to the basis period for the year of assessment 2001, 74 per cent, and

(b) in the case where the claim relates to the basis period for the year of assessment 2002, 135 per cent,

of the amount of tax referred to in subsection (2)(b).”.

Relevant Contracts Tax: interpretation

31. In section 530(1)—

(a) for the definition of “income tax month” there shall be substituted the following

“‘income tax month’ means—

(a) in relation to a period prior to 6 December 2001, a month beginning on the 6th day of a month and ending on the 5th day of the next month,

(b) the period beginning on 6 December 2001 and ending on 31 December 2001, and

(c) thereafter, a calendar month;”,

and

(b) in the definition of “qualifying period”, for “the 5th day of April” and “the 6th day of April” there shall be substituted “31 December” and “1 January”, respectively.

Relevant Contracts Tax: returns, payments and repayments

32. In section 531—

(a) in subsection (3A)(a), for “Within 9 days from the end of an income tax month” and “that income tax month” there shall be substituted “Not later than the 14th day of an income tax month” and “the previous income tax month”, respectively,

(b) in subsection (5)(b), for “commencing on the 6th day of April in a year of assessment and ending on the 5th day of the month following the date of the payment or, if the payment was made on or before the 5th day of a month, ending on the 5th day of that month” of “commencing on the 1st day of a year of assessment and ending on the last day of the income tax month in which the payment was made”,

and

(c) in subsection 12(d), for “income tax year” (in both places where it occurs) there shall be substituted “year of assessment”.

Capital Gains Tax: adjustment of allowable expenditure by reference to consumer price index

33. In section 556(1), in the definition of “the consumer price index number relevant to any year of assessment”, for “mid-February” there shall be substituted “mid-November”.

Capital Gains Tax: annual exempt amount

34. In section 601, for “£1,000” (in each place it occurs in subsections (1), (2) and (3)) there shall be substituted “£740”.

Capital Gains Tax: disposal of principal private residence

35. In section 604(12)(c), for “£15,000” there shall be substituted “£11,100”.

Capital Gains Tax: exclusion of certain disposals from taxation regime applying to development land

36. In section 650, for “£15,000” there shall be substituted “£11,100”.

Averaging of farming profits

37. In section 657—

(a) in subsection (5)—

(i) in paragraph (a), for “the 5th day of April” there shall be substituted “31 December”, and

(ii) after paragraph (a) there shall be inserted the following

“(aa) As respects the year of assessment 2001, this subsection shall apply as if in paragraph (a) ‘74 per cent of the full amount of those profits or gains’ were substituted for ‘the full amount of those profits or gains’.

(ab) For the purposes of paragraph (a), where an individual makes up annual accounts to a date in the period from 1 January 2002 to 5 April 2002, those accounts shall, in addition to being accounts made up to a date in the year of assessment 2002, be treated as accounts made up to a date in the year of assessment 2001.”,

(b) after subsection (8) there shall be inserted the following

“(8A) Where as respects the year of assessment 2002 an individual duly elects or is deemed to have elected in accordance with subsection (7), subsection (8) shall apply as if the following were substituted for paragraph (b) of that subsection

(b) there shall be made such assessment or assessments, if any, as may be necessary to secure that the amount of the profits or gains from farming on which the individual is charged for each of the years of assessment 1999-2000 and 2000-2001 shall be not less than 135 per cent of the amount on which the individual is charged by virtue of subsection (6) in accordance with subsection (5) for the year of assessment 2001.'.

(8B) Where as respects the year of assessment 2003 an individual duly elects or is deemed to have elected in accordance with subsection (7), subsection (8) shall apply as if the following were substituted for paragraph (b) of that subsection

‘(b) there shall be made such assessment or assessments, if any, as may be necessary to secure that the amount of the profits or gains from farming on which the individual is charged for the year of assessment 2000-2001 and the year of assessment 2001 shall be—

(i) in the case of the year of assessment 2000-2001, not less than, and

(ii) in the case of the year of assessment 2001, not less than 74 per cent of,

the amount on which the individual is charged by virtue of subsection (6) in accordance with subsection (5) for the year of assessment 2002.’.

(8C) Where as respects the year of assessment 2004 an individual duly elects or is deemed to have elected in accordance with subsection (7), subsection (8) shall apply as if the following were substituted for paragraph (b) of that subsection

‘(b) there shall be made such assessment or assessments, if any, as may be necessary to secure that the amount of the profits or gains from farming on which the individual is charged for each of the years of assessment 2001 and 2002 shall be—

(i) in the case of the year of assessment 2001, not less than 74 per cent of, and

(ii) in the case of the year of assessment 2002, not less than,

the amount on which the individual is charged by virtue of subsection (6) in accordance with subsection (5) for the year of assessment 2003.’.”,

and

(c) after subsection (11) there shall be inserted the following

“(11A) As respects the year of assessment 2001, subsection (11) shall apply as if in that subsection ‘74 per cent of one-third of the amount of such excess’ were substituted for ‘one-third of the amount of such excess’ and, where this subsection applies, the individual may claim that 26 per cent of one-third of the amount of the excess referred to in subsection (11) shall, notwithstanding anything to the contrary in that subsection, be carried forward under section 382 for deduction from or set-off against the profits or gains of the individual from farming for any subsequent year of assessment.”.

Farming: allowances for capital expenditure on the construction of farm buildings, etc., for control of pollution

38. In section 659(1)(c), for “6 April 2003” there shall be substituted “1 January 2004”.

Returns of share or loan interest by industrial and provided societies

39. In section 700(3)—

(a) for “the 1st day of May” there shall be substituted “31 January”,

and

(b) in paragraph (a), for “£70” there shall be substituted “£52”.

Special investment schemes

40. In section 737(8)(a)(i), for “the 5th day of April” there shall be substituted “31 December”.

Retirement annuities: nature and amount of relief for qualifying premiums

41. In section 787(2A), for “£200,000” there shall be substituted “£148,000”.

Residence of individuals

42. In section 819—

(a) in subsection (1)—

(i) in paragraph (a), for “183 days” there shall be substituted “135 days”, and

(ii) in paragraph (b), for “280 days” there shall be substituted “244 days”,

and

(b) in subsection (2), for “30 days” there shall be substituted “22 days”.

Application of sections 17 and 18(1) and Chapter 1 of Part 3 in case of persons ordinarily resident in the State

43. In section 821(1)(b), for “£3,000” there shall be substituted “£2,220”.

Residence treatment of donors of gifts to the State

44. In section 825(1), in paragraph (a) of the definition of “visits”, for “182 days” there shall be substituted “135 days”.

Reduction in income tax for certain income earned outside the State

45. In section 825A(1), in paragraph (b) of the definition of “qualifying employment” for “13 weeks” there shall be substituted “10 weeks”.

Special portfolio investment accounts

46. In section 838—

(a) in subsection (4)(e), for “the 5th day of April” there shall be substituted “31 December”,

and

(b) in subsection (6)—

(i) in paragraph (a)(i), for “the 5th day of April” there shall be substituted “31 December”,

and

(ii) in paragraph (c), for “the 1st day of November” there shall be substituted “31 October”.

Returns of income

47. In section 879, for subsection (3) there shall be substituted the following

“(3) The amount of income from any source to be included in a return under this section shall be computed in accordance with the Income Tax Acts; but where under Chapter 3 of Part 4 the profits or gains (or, as respects the year of assessment 2001, 64 per cent of the profits or gains) of a particular 12 month period are to be taken to be the profits or gains of a year of assessment, the computation shall be made by reference to that period.”.

Partnership returns

48. In section 880, after subsection (3) there shall be inserted the following

“(3A) For the purposes of subsection (3), an account made up for a period of one year to a date falling in the period from 1 January 2002 to 5 April 2002 shall, in addition to being an account made up to a date in the year of assessment 2002, be deemed to be an account made up to a date within the year of assessment 2001.”.

Returns of certain information by third parties

49. In section 894(1), in paragraph (a) of the definition of “specified return date for the chargeable period”, for “the 31st day of January” there shall be substituted “31 October”.

Returns in relation to foreign accounts

50. In section 895(1), in paragraph (a) of the definition of “specified return date for the chargeable period”, for “the 31st day of January” there shall be substituted “31 October”.

Returns of employees' emoluments, etc.

51. In section 897(2)(e), for “£1,500” there shall be substituted “£1,110”.

Due date for payment of income tax other than under self assessment

52. In section 960, for “the 1st day of November” (in both places where it occurs) there shall be substituted “31 October”.

PAYE system

53. In section 983, for the definition of “income tax month” there shall be substituted the following

“‘income tax month’ means—

(a) in relation to a period prior to 6 December 2001, a month beginning on the 6th day of a month and ending on the 5th day of the next month,

(b) the period beginning on 6 December 2001 and ending on 31 December 2001, and

(c) thereafter, a calendar month;”.

Treatment for tax purposes of certain unpaid remuneration

54. In section 996(1), in paragraph (b)(ii) of the definition of “relevant date”, for “5th day of April” there shall be substituted “31st day of December”.

Restrictions on relief for losses, interest and capital allowances in case of certain partners

55. In section 1013(2C)—

(a) in paragraph (d)(iii), for “the year of assessment 2001-2002” there shall be substituted “the year of assessment 2002”,

and

(b) in paragraph (e)(II)—

(i) for “6 April 2004” there shall be substituted “1 January 2005”,

and

(ii) for “the year of assessment 2004-2005” (in both places where it occurs) there shall be substituted “the year of assessment 2005”.

Assessment of wife in respect of income of both spouses

56. In section 1019, for “the 6th day of July” (in both places where it occurs in subsections (2)(a)(ii) and (5)) there shall be substituted “1 April”.

Special provisions relating to year of marriage

57. In section 1020—

(a) in subsection (1), for the definition of “income tax month” there shall be substituted the following

“‘income tax month’ means—

(a) in relation to a period prior to 6 December 2001, a month beginning on the 6th day of a month and ending on the 5th day of the next month,

(b) the period beginning on 6 December 2001 and ending on 31 December 2001, and

(c) thereafter, a calendar month;”,

and

(b) in the formula in subsection (3), for “12” there shall be substituted “9”.

Application for separate assessments

58. In section 1023, for “the 6th day of July” (in each place where it occurs in subsections (3) and (4)) there shall be substituted “1 April”.

Capital Gains Tax: assessment of married persons

59. In section 1028, for “the 6th day of July” (in each place where it occurs in subsections (2) and (3)) there shall be substituted “1 April”.

Profit Sharing Schemes: approval of schemes

60. In Schedule 11, in paragraph 3(4), for “£10,000” there shall be substituted “£7,400”.

Application

61. (a) Paragraphs 7, 13, 14, 17(a), 22, 23, 24, 25, 27, 34, 35, 36, 39(b) and 41, subparagraphs (a)(i) and (b) of paragraph 42, and paragraphs 43, 44, 45, 51, 57(b) and 60 shall apply only as respects the year of assessment 2001.

(b) Paragraph 9(a) shall apply where the relevant year (within the meaning of section 128A(3) of the Taxes Consolidation Act, 1997) is the year of assessment 2001 or any subsequent year of assessment.

(c) Paragraphs 11, 16(b), 17(b), 40, 46, 49, 50 and 52 shall apply as respects the year of assessment 2001 and subsequent years of assessment.

(d) Paragraphs 15, 29, 31(b), subparagraphs (a) and (b) of paragraph 32, and paragraph 33 shall apply as on and from 1 January 2002.

(e) Paragraphs 16(a), 18, 56, 58 and 59 shall apply as respects the year of assessment 2002 and subsequent years of assessment.

(f) Paragraph 39(a) shall apply in relation to a return due under section 700(3) of the Taxes Consolidation Act, 1997, in respect of the year of assessment 2001 or any subsequent year of assessment.

(g) Paragraph 42(a)(ii) shall apply only as respects the year of assessment 2001 and the year of assessment 2002.

ISB Act 2001-03-30

Schedule 3 FINANCE ACT, 2001 Open official source

SCHEDULE 3 Repeals and Revocations Relating to Excise Law

Repeals and Revocations Relating to Excise Law

Section 149.

PART 1 Repeals

PART 1

Repeals

Session and Chapter or Number and Year

Short title

Extent of repeal

(1)

(2)

(3)

7 & 8 Geo. 4, c.53.

Excise Management Act, 1827.

Sections 3, 11, 19, 20, 21, 22, 23, 29, 30, 31, 33, 35, 37, 38, 39, 40, 41, 42, 43, 65, 67, 68, 69 (in so far as it relates to excise duties), 70, 71, 73, 74, 76, 77, 78, 79, 81, 82, 83, 84, 85, 107, 108, 109, 110 and 111.

9 Geo. 4, c. 44

Excise Act, 1828.

Sections 1 and 2.

4 & 5 Will. 4, c. 51.

Excise Management Act, 1834.

Sections 5, 6, 7, 8, 9, 11, 12 (in so far as it relates to excise duties), 16, 19, 20, 22, 23, 25, 28 and 30.

4 & 5 Vict., c.20.

Excise Management Act, 1841.

Sections 2, 5, 7 and 31.

28 & 29 Vict., c.96.

Revenue (No. 2) Act, 1865.

Section 26.

30 & 31 Vict., c.90.

Revenue Act, 1867.

Sections 12 and 15.

51 & 52 Vict., c.8.

Customs & Inland Revenue Act, 1888.

Sections 5 and 8

53 & 54 Vict., c.21.

Inland Revenue Regulations Act, 1890.

Sections 7 and 15. Sections 25, 26, 29, 30, 31 and 35, in so far as they relate to excise duties.

61 & 62 Vict., c.46.

Revenue Act, 1898.

Section 15, in so far as it relates to excise duties.

63 & 64 Vict., c.7.

Finance Act, 1900.

Section 9, in so far as it relates to excise duties.

1 & 2 Geo. 5, c.48.

Finance Act, 1911.

Section 3 in so far as it relates to excise duties.

11 & 12 Geo. 5, c.32.

Finance Act, 1921.

Section 18, in so far as it relates to excise duties.

No. 31 of 1929.

Finance Act, 1929.

Section 29.

Section 31, in so far as it relates to excise duties.

No. 15 of 1933.

Finance Act, 1933.

Section 33, in so far as it relates to excise duties.

No. 28 of 1935.

Finance Act, 1935.

Section 29.

No. 15 of 1946.

Finance Act, 1946.

Sections 18 and 23.

No. 10 of 1985.

Finance Act, 1985.

Section 39.

No. 10 of 1988.

Customs & Excise (Miscellaneous Provisions) Act, 1988.

Section 5, in so far as it relates to excise duties.

No. 9 of 1992.

Finance Act, 1992.

Chapter 2 of Part II.

No. 28 of 1992.

Finance (No. 2) Act, 1992.

Sections 24, 25, 26 and 27.

No. 13 of 1993.

Finance Act, 1993.

Section 76.

No. 8 of 1995.

Finance Act, 1995.

Sections 85, 86, 86A, 87, 87A, 87B, 88, 89, 90, 91, 92, 93, 94, 103, 104, 105, 106 and 107.

PART 2 Revocations

PART 2

Revocations

Number and Year

Citation

Extent of revocation

(1)

(2)

(3)

S.I. No. 307 of 1975.

Imposition of Duties (No. 221) (Excise Duties) Order, 1975.

Regulations 17 and 18.

S.I. No. 394 of 1992.

European Communities (Customs & Excise) Regulations, 1992.

Regulations 5, 6, 7, 9, 10, 11 and 12.

ISB Act 2001-03-30

Schedule 4 FINANCE ACT, 2001 Open official source

SCHEDULE 4 Rates of Excise Duty on Tobacco Products

SCHEDULE 4

Rates of Excise Duty on Tobacco Products

Section 154.

Description of Product

Rate of Duty

Cigarettes

...

£81.68 per thousand together with an amount equal to 18.89 per cent of the price at which the cigarettes are sold by retail

Cigars

...

£124.840 per kilogram

Fine-cut tobacco for the rolling of cigarettes

£105.347 per kilogram

Other smoking tobacco

...

£86.609 per kilogram

ISB Act 2001-03-30

Schedule 5 FINANCE ACT, 2001 Open official source

SCHEDULE 5 Amendment of Enactments Consequent on Changeover to Euro

SCHEDULE 5

Amendment of Enactments Consequent on Changeover to Euro

Section 240.

PART 1 Income tax, corporation tax, capital gains tax, provisions in the Inland Revenue Regulation Act, 1890, and the Taxes Consolidation Act, 1997, applying also to other taxes and duties, and related matters

PART 1

Income tax, corporation tax, capital gains tax, provisions in the Inland Revenue Regulation Act, 1890, and the Taxes Consolidation Act, 1997, applying also to other taxes and duties, and related matters

Enactment amended

Words or amount to be replaced

Words or amount to be inserted

(1)

(2)

(3)

Inland Revenue Regulation Act, 1890 (53 & 54 Vict., c.21) (as amended)

section 10(1)

five hundred pounds

€630

section 10(2)

five hundred pounds

€630

section 11

one hundred pounds

€125

section 25(2)

one hundred pounds

€125

section 32

fifty pounds

€65

Taxes Consolidation Act, 1997 (No. 39 of 1997) (as amended)

section 14(1)

one pound

one euro

section 14(1)

one penny

one cent

paragraph 6 of Schedule C in section 17(1)

one pound

one euro

paragraph 1 of Schedule D in section 18(1)

one pound

one euro

paragraph 2 of Schedule E in section 19(1)

one pound

one euro

section 110(1)

£10,000,000

€12,690,000

section 116(3)(a)

£1,500

€1,905

section 126(4)(b)

£10

€13

section 133(8)(c)

£170,000,000

€215,855,473.33

section 133(11)(a)

£250,000,000

€317,434,519.61

section 133(11)(b)

£170,000,000

€215,855,473.33

section 152(2)

£10

€10

section 152(2)

£100

€125

section 178(7)(a)

£100

€100

section 189A

£300,000

€381,000

section 201(1)(a)

£8,000

€10,160

section 201(1)(a)

£600

€765

paragraph (a) of the definition of “specified amount” in section 201(1)

£6,000

€7,620

paragraph (a) of the definition of “specified amount” in section 202(1)

£200

€255

paragraph (b) of the definition of “specified amount” in section 202(1)

£6,000

€7,620

paragraph (b) of the definition of “specified amount” in section 202(1)

£500

€635

paragraph (c) of the definition of “specified amount” in section 202(1)

£8,000

€10,160

paragraph (c) of the definition of “specified amount” in section 202(1)

£600

€765

section 207(4)

£100

€125

section 211(1)

£160

€205

section 211(1)

£1,000

€1,270

section 211(1)

£52

€70

section 211(6)

£100

€125

section 213(2)

£8,000

€10,160

section 213(2)

£2,000

€2,540

section 213(4)

£100

€125

section 236(4)(c)

£500

€630

section 244(1)(a)

£4,000

€5,080

section 244(1)(a)

£2,000

€2,540

section 244(1)(a)

£5,000

€6,350

section 244(1)(a)

£2,500

€3,175

section 250(3)

£2,400

€3,050

section 264(1)

£50,000

€63,500

section 305(4)

£500

€630

section 373(2)(a)

£2,500

€3,174.35

section 373(2)(b)

£3,500

€4,444.08

section 373(2)(c)

£4,000

€5,078.95

section 373(2)(d)

£6,000

€7,618.43

section 373(2)(e)

£7,000

€8,888.17

section 373(2)(f)

£10,000

€12,697.38

section 373(2)(g)

£13,000

€16,506.60

section 373(2)(h)

£14,000

€17,776.33

section 373(2)(i)

£15,000

€19,406.07

section 373(2)(j)

£15,500

€19,680.94

section 373(2)(k)

£16,000

€20,315.81

section 373(2)(l)

£16,500

€20,950.68

paragraph (a) of the definition of “relevant amount” in section 376(1)

£14,000

€17,776.33

paragraph (b) of the definition of “relevant amount” in section 376(1)

£15,000

€19,046.07

paragraph (c) of the definition of “relevant amount” in section 376(1)

£15,500

€19,680.94

paragraph (d) of the definition of “relevant amount” in section 376(1)

£16,000

€20,315.81

paragraph (e) of the definition of “relevant amount” in section 376(1)

£16,500

€20,950.68

section 404(1)(b)(iii)

£2,000

€2,540

section 404(6)(c)(ii)

£50,000

€63,500

section 414(1)(b)

£100

€100

section 415(1)(b)

£100

€100

section 438(3)

£15,000

€19,050

section 440(1)(b)(i)(I)

£500

€635

section 440(1)(b)(i)(II)

£500

€635

section 441(4)(b)(i)(I)

£500

€635

section 441(4)(b)(i)(II)

£500

€635

section 469(2)(a)

£100

€125

section 469(2)(b)

£200

€250

section 472A(2)

£3,000

€3,810

section 472A(2)

£2,000

€2,540

section 472A(2)

£1,000

€1,270

section 472A(3)(a)

£1,000

€1,270

section 472A(3)(a)

£666

€850

section 472A(3)(a)

£334

€425

section 472A(3)(b)

£1,000

€1,270

section 472A(3)(b)

£666

€850

section 472A(3)(b)

£334

€425

section 476(1)

£250

€315

section 476(1)

£1,000

€1,270

section 477(1)(a)

£150

€195

section 478(2)

£800

€1,015.79

section 479(2)

£5,000

€6,350

section 481(2)(c)(i)

£4,000,000

€5,080,000

section 481(2)(c)(ii)

£4,000,000

€5,080,000

section 481(2)(c)(ii)

£5,000,000

€6,350,000

the formula in section 481(2)(c)(ii)

£100,000

€127,000

section 481(2)(c)(iii)

£5,000,000

€6,350,000

section 481(2)(c)

£8,250,000

€10,480,000

section 481(4)(a)

£8,000,000

€10,160,000

section 481(4)(b)(i)

£3,000,000

€3,810,000

section 481(4)(b)(ii)

£3,000,000

€3,810,000

section 481(4)(b)(ii)

£4,000,000

€5,080,000

section 481(7)

£25,000

€31,750

section 481(16)

£500

€630

section 481(16)

£1,000

€1,265

paragraph (ii) of the definition of “qualifying expenditure” in section 482(1)(a)

£5,000

€6,350

paragraph (i)(II) of the definition of “relevant expenditure” in section 482(1)(a)

£5,000

€6,350

section 482(7)(c)

£500

€630

section 486B(4)

£10,000,000

€12,700,000

section 486B(5)

£7,500,000

€9,525,000

section 486B(11)(i)

£500

€630

section 486B(11)(i)

£1,000

€1,265

section 490(1)(a)

£200

€250

section 490(2)

£25,000

€31,750

section 491(2)

£100,000

€127,000

section 491(2)

£500,000

€635,000

section 491(2)

£1,000,000

€1,270,000

section 491(2)

£250,000

€317,500

section 491(2)

£400,000

€508,000

section 491(3)

£100,000

€127,000

section 491(3)

£500,000

€635,000

section 491(3)

£1,000,000

1,270,000

section 491(3)

£250,000

€317,500

section 491(3)

£400,000

€508,000

section 493(8)(a)(i)

£250,000

€317,500

section 494(2)(a)

£15,000

€19,050

section 494(5)(a)

£100

€130

section 494(6)(b)(ii)

£100,000

€127,000

section 496(5)(c)

£2,000,000

€2,539,476.16

section 503(6)

£500

630

section 503(6)

£1,000

€1,265

section 513(6)

£10

€13

section 515(1)(a)

£10,000

12,700

section 515(1)(b)

£30,000

€38,100

section 515(2)

£10,000

€12,700

section 515(2)

£30,000

€38,100

section 515(2B)

£30,000

€38,100

section 531(14)(a)

£1,000

€1,265

section 531(14)(b)

£1,000

€1,265

section 531(14)(c)

£1,000

€1,265

section 598(2)(a)(i)

£375,000

€476,250

section 598(2)(a)(ii)

£375,000

€476,250

section 601(1)

£1,000

€1,270

section 601(2)

£1,000

€1,270

section 601(3)

£1,000

€1,270

section 602(2)

£2,000

€2,540

section 602(3)(a)

£2,000

€2,540

section 602(4)

£2,000

€2,540

section 602(6)(b)

£2,000

€2,540

section 602(6)(c)

£2,000

€2,540

section 604(12)(c)

£15,000

€19,050

section 606(1)(a)

£25,000

31,740

section 650

£15,000

€19,050

section 659(3)(a)(i)

£10,000

€12,700

section 659(3)(a)(ii)

£15,000

€19,050

section 659(3B)(a)

£25,000

€31,750

paragraph (ii)(I) of the definition of “the specified amount” in section 664(1)(a)

£2,000

€2,539.48

paragraph (ii)(II) of the definition of “the specified amount” in section 664(1)(a)

£2,800

€3,555.27

paragraph (ii)(III) of the definition of “the specified amount” in section 664(1)(a)

£2,000

€2,539.48

paragraph (ii)(IV)(A) of the definition of “the specified amount” in section 664(1)(a)

£4,000

€5,078.95

paragraph (ii)(IV)(B) of the definition of “the specified amount” in section 664(1)(a)

£3,000

€3,809.21

paragraph (ii)(V)(A) of the definition of “the specified amount” in section 664(1)(a)

£6,000

€7,618.43

paragraph (ii)(V)(B) of the definition of “the specified amount” in section 664(1)(a)

£4,000

€5,078.95

section 664(1)(b)(i)

£2,800

€3,555.27

section 664(1)(b)(ii)(I)

£4,000

€5,078.95

section 664(1)(b)(ii)(II)

£3,000

€3,809.21

section 664(1)(b)(iii)(I)

£6,000

€7,618.43

section 664(1)(b)(iii)(II)

£4,000

€5,078.95

section 700(3)

£70

€90

section 723(1)

£200,000,000

€255,000,000

section 723(3)(b)

£50,000

€63,500

section 723(3)(c)

£50,000

63,500

section 737(1)

£200,000,000

€255,000,000

section 737(3)(a)(ii)

£50,000

€63,500

section 737(3)(a)(iii)

£50,000

€63,500

the formula in the definition of “qualifying group expenditure on research and development” in section 766(1)(a)

£25,000

€31,743.45

paragraph (A) of the definition of “qualifying group expenditure on research and development” in section 766(1)(a)

£150,000

€190,460.71

section 766(1)(b)(v)(I)

£50,000

€63,486.90

section 783(6)

£500

€630

section 784C(2)(b)(ii)

£50,000

€63,500

section 784C(3)(b)

£50,000

63,500

section 784C(4)(a)

£10,000

€12,700

section 787(2A)

£200,000

€254,000

section 789(5)

£500

€630

section 821(1)(b)

£3,000

€3,810

section 823(3)

£25,000

€31,750

section 838(1)(a)

£200,000,000

€255,000,000

section 838(2)(b)(i)

£50,000

€63,500

section 838(2)(b)(i)(B)

£10,000

€12,700

section 838(2)(b)(ii)

£50,000

€63,500

section 838(2)(c)

£50,000

€63,500

section 839(2)(a)(i)

£25,000

€31,750

section 839(2)(a)(i)

£50,000

€63,500

section 839(2)(a)(ii)

£25,000

€31,750

section 839(2)(a)(ii)

£50,000

€63,500

section 839(2)(b)(ii)(I)

£25,000

€31,750

section 839(2)(b)(ii)(I)

£50,000

€63,500

section 839(2)(b)(ii)(II)

£25,000

€31,750

section 839(2)(b)(ii)(II)

£50,000

€63,500

section 839(3)

£50,000

€63,500

section 839(3)

£75,000

€95,250

section 839(4)

£25,000

€31,750

section 839(4)

£50,000

€63,500

section 856(2)

£50

€60

section 857(3)

£100

€125

section 877(5)(b)

£5

€5

section 885(2)

£5

€7

section 886(5)

£1,200

€1,520

section 889(7)(b)

£500

€635

section 889(8)

£1,200

€1,520

section 890(3)

£500

€635

section 891(2)(a)

£50

€65

section 895(4)(a)

£2,000

€2,535

section 895(4)(b)

£2,000

€2,535

section 897(2)(e)

£1,500

€1,905

section 898(3)

£1

€2

section 900(7)

£1,500

€1,900

section 902(11)

£1,500

€1,900

section 903(5)

£1,000

€1,265

section 904(5)

£1,000

€1,265

section 904A(8)

£1,000

€1,265

section 904A(9)

£15,000

€19,045

section 904A(9)

£2,000

€2,535

section 904C(7)

£1,000

€1,265

section 904C(8)

£15,000

€19,045

section 904C(8)

£2,000

€2,535

section 904D(7)

£1,000

€1,265

section 904D(8)

£15,000

€19,045

section 904D(8)

£2,000

€2,535

section 905(3)

£1,000

€1,265

section 906A(10)

£15,000

€19,045

section 906A(10)

£2,000

€2,535

section 907(9)

£15,000

€19,045

section 907(9)

£2,000

€2,535

section 914(6)(a)

£5,000

€6,350

section 914(6)(b)

£15,000

€19,050

section 917A(4)

£2,000

€2,535

section 917B(5)(b)

£2,000

€2,535

section 917C(3)(b)

£2,000

€2,535

section 923(4)

£100

€125

section 923(4)

£20

€25

section 932

£50

€60

section 939(3)

£750

€950

section 941(3)

£20

€25

section 942(6)(b)

£10

€10

paragraph (i) of the definition of “chargeable person” in section 950(1)

£100

€130

section 953(7)(a)(i)

£10

€10

section 962(3)(a)

£15,000

€19,050

section 962(3)(b)

£2,500

€3,175

section 962(3)(b)

£15,000

€19,050

section 962(3)(c)

£2,500

€3,175

section 980(3)

£300,000

381,000

section 986(5)(a)

£6

€8

section 986(5)(a)

£1

€2

section 986(5)(b)

£6

€8

section 986(5)(b)

£1

€2

section 986(5)(b)

£26

€36

section 986(5)(b)

£4.50

€9

section 986(6)(b)(i)

£30

€40

section 987(1)

£1,200

€1,520

section 987(1A)

£500

€630

section 987(1A)

£2,000

€2,535

section 987(2)

£750

€950

section 991(1)

£5

€6

section 1003(2)(c)(i)

£75,000

€95,250

section 1003(2)(c)(ii)

£75,000

€95,250

section 1003(2)(c)(ii)

£3,000,000

€3,810,000

section 1021(2)

£20

€25

section 1052(1)

£750

€950

section 1052(2)

£1,200

€1,520

section 1053(1)(i)

£100

€125

section 1053(2)

£100

€125

section 1053(2)

£250

€315

section 1054(2)(a)(i)

£1,000

€1,265

section 1054(2)(a)(ii)

£500

€630

section 1054(2)(a)(ii)

£50

€60

section 1054(2)(b)(i)

£200

€250

section 1054(2)(b)(ii)

£100

€125

section 1054(3)(a)(i)(I)

£500

€630

section 1054(3)(a)(i)(I)

£1,000

€1,265

section 1054(3)(a)(ii)

£100

€125

section 1054(3)(a)(ii)

£200

€250

section 1054(3)(b)(i)

£500

€630

section 1054(3)(b)(i)

£1,000

€1,265

section 1054(3)(b)(ii)

£100

€125

section 1054(3)(b)(ii)

£200

€250

section 1055

£500

€630

section 1056(3)(a)(i)

£1,200

€1,520

section 1056(3)(a)(ii)

£1,200

€1,520

section 1056(3)(b)(i)

£5,000

€6,345

section 1056(3)(b)(ii)

£5,000

€6,345

section 1056(3)(b)(ii)

£10,000

€12,695

section 1056(3)(b)(iii)

£10,000

€12,695

section 1056(3)(b)(iii)

£25,000

€31,740

section 1056(3)(b)(iv)

£25,000

€31,740

section 1056(3)(b)(iv)

£100,000

€126,970

section 1056(3)(b)(v)

£100,000

€126,970

section 1057(1)

£100

€125

section 1058(1)

£50

€60

section 1071(1)(a)

£500

€630

section 1071(1)(a)

£50

€60

section 1071(1)(b)

£100

€125

section 1071(2)

£1,000

€1,265

section 1071(2)

£200

€250

section 1072(1)

£500

€630

section 1072(1)

£1,000

€1,265

section 1072(1)

£100

€125

section 1072(1)

£200

€250

section 1073(1)(a)

£500

€630

section 1073(1)(a)

£50

€60

section 1073(1)(b)

£100

€125

section 1074(a)

£500

€630

section 1074(a)

£50

€60

section 1074(b)

£100

€125

section 1075(1)

£100

€125

section 1075(1)

£10

€10

section 1075(2)

£100

€125

section 1075(2)

£250

€315

section 1075(3)(a)

£500

€630

section 1075(3)(a)

£50

€60

section 1075(3)(b)

£100

€125

section 1075(4)(a)

£500

€630

section 1075(4)(a)

£1,000

€1,265

section 1075(4)(b)

£100

€125

section 1075(4)(b)

£200

€250

section 1078(3)(b)

£100,000

€126,970

section 1079(7)(a)

£1,000

€1,265

section 1079(7)(b)

£5,000

€6,345

section 1080(2)

£1

€2

section 1084(2)(a)(i)

£10,000

€12,695

section 1084(2)(a)(ii)

£50,000

€63,485

section 1085(3)(a)

£125,000

€158,715

section 1085(3)(b)

£50,000

€63,485

section 1085(4)(b)(i)

£25,000

€31,740

section 1085(4)(b)(ii)

£10,000

€12,695

section 1086(4)(c)

£10,000

€12,700

section 1091(3)

£10

€10

section 1091(3)

£100

€125

Schedule 2, paragraph 10

£2.50

€3.50

Schedule 2, paragraph 19

£0.675

€0.675

Schedule 2, paragraph 19

£1,000

€1,000

Schedule 2, paragraph 27

£0.675

€0.675

Schedule 2, paragraph 27

£1,000

€1,000

Schedule 3, paragraph 8

£4,000

€5,080

Schedule 3, paragraph 8

£4,000

€5,080

Schedule 11, paragraph 3(4)

£10,000

€12,700

Schedule 11, paragraph 3(4)

£30,000

€38,100

Schedule 12A, paragraph 25 (2)(a)

£250

€320

Schedule 12A, paragraph 25 (2)(b)

£10

€12

Schedule 32, paragraph 22(1)

£8,000,000

€10,157,904.63

Schedule 32, paragraph 22(1)

£6,000,000

€7,618,428.47

Schedule 32, paragraph 22(1)

£6,000,000

€7,618,428.47

Schedule 32, paragraph 22(6)

£3,000,000

€3,809,214.24

Schedule 32, paragraph 22(6)

£2,000,000

€2,539,476.16

Schedule 32, paragraph 22(7)

£3,000,000

€3,809,214.24

Schedule 32, paragraph 22(7)

£2,000,000

€2,539,476.16

PART 2 Customs and related matters

PART 2

Customs and related matters

Enactment amended

Amount or words to be replaced

Amount or words to be inserted

(1)

(2)

(3)

Customs Consolidation Act, 1876 (39 & 40 Vict. c.36) (as amended)

section 46

twenty pounds

€25

section 47

one hundred pounds

€125

section 47

twenty pounds

€25

section 49

twenty pounds

€25

section 51

one hundred pounds

€125

section 52

one hundred pounds

€125

section 53

one hundred pounds

€125

section 67

one hundred pounds

€125

section 72

twenty pounds

€25

section 81

five pounds

€5

section 84

one hundred pounds

€125

section 101

one hundred pounds

€125

section 106

one hundred pounds

€125

section 108

two hundred pounds

€250

section 112

five pounds

€5

section 114

twenty pounds

€25

section 126

one hundred pounds

€125

section 130

five pounds

€5

section 130

one hundred pounds

€125

section 132

one hundred pounds

€125

section 134

five pounds

€5

section 135

twenty pounds

€25

section 136

twenty pounds

€25

section 136

one hundred pounds

€125

section 139

one hundred pounds

€125

section 142

one hundred pounds

€125

section 145

twenty pounds

€25

section 146

twenty pounds

€25

section 147

twenty pounds

€25

section 168

five hundred pounds

€630

section 172

five hundred pounds

€630

section 179

fifty pounds

€60

section 179

one hundred pounds

€125

section 181

twenty pounds

€25

section 185

ten pounds

€10

section 185

one hundred pounds

€125

section 190

one hundred pounds

€125

section 195

ten pounds

€10

section 203

twenty pounds

€25

section 203

one hundred pounds

€125

section 206

twenty pounds

€25

section 217

five hundred pounds

€630

section 228

twenty pounds

€25

section 234

one hundred pounds

€125

section 236

one hundred pounds

€125

section 267

two pence

€0.01

section 267

one shilling

€0.05

Customs and Inland Revenue Act, 1878 (41 & 42 Vict. c. 15)

section 4

twenty pounds

€25

section 6

one hundred pounds

€125

Customs and Inland Revenue Act, 1879 (42 & 43 Vict. c. 21)

section 7

one hundred pounds

€125

section 8

one hundred pounds

€125

section 9

twenty pounds

€25

section 10

one hundred pounds

€125

section 10

five hundred pounds

€630

Customs and Inland Revenue Act, 1881 (44 & 45 Vict. c. 12) (as amended)

section 10

fifty pounds

€60

section 11

five pounds

€5

section 12(1)

£1,000

€1,265

section 12(2)

£1,000

€1,265

section 12(3)

£1,000

€1,265

section 12(4)

£1,000

€1,265

section 12(5)

£1,000

€1,265

Revenue Act, 1884 (47 & 48 Vict., c. 62)

section 2

twenty pounds

€25

section 3

five pounds

€5

Customs and Inland Revenue Act, 1888 (50 & 51 Vict. c. 8)

section 5(2)

fifty pounds

€60

Finance Act, 1936 (No. 31 of 1936)

section 20(4)

fifty pounds

€60

Finance Act, 1938 (No. 25 of 1938)

section 24

£1,000

€1,265

Customs (Amendment) Act, 1942 (No. 21 of 1942)

section 1

one hundred pounds

€125

Customs-Free Airport Act, 1947 (No. 5 of 1947) (as amended)

section 6 (3)

one hundred pounds

€125

section 9 (6)

one hundred pounds

€125

section 10 (3)

one hundred pounds

€125

section 11(4)

one hundred pounds

€125

section 12(2)

£1,000

€1,265

Finance Act, 1950 (No. 18 of 1950) (as amended)

section 9(2)

£1,000

€1,265

Customs Act, 1956 (No. 7 of 1956) (as amended)

section 3

one hundred pounds

€125

section 4(2)

fifty pounds

€60

Customs-Free Airport (Amendment) Act, 1958 (No. 29 of 1958)

section 4

fifty pounds

€60

Finance Act, 1963 (No. 23 of 1963) (as amended)

section 29(2)

one hundred pounds

€125

Finance Act, 1971 (No. 23 of 1971) (as amended)

section 29(3)

£100

€125

Finance Act, 1974 (No. 27 of 1974)

section 76(1)

50 pence

€0.50

Free Ports Act, 1986 (No. 6 of 1986)

section 10(5)

£500

€630

section 12

£500

€630

Customs and Excise (Miscellaneous Provisions) Act, 1988 (No. 10 of 1988)

section 2

£500

€630

section 11(9)

£1,000

€1,265

section 11(8)(b)

£1,000

€1,265

section 12(3)

£1,000

€1,265

section 13(2)

£1,000

€1,265

Finance Act, 1997 (No. 22 of 1997)

section 89

£10,000

€12,695

European Communities (Customs & Excise) Regulations, 1992 (S.I. No. 394 of 1992)

Regulation 4(7)

£1,000

€1,265

European Communities (Community Transit) Regulations, 1992 (S.I. No. 433 of 1992)

Regulation 5(a)

£1,000

€1,265

Regulation 5(b)

£1,000

€1,265

Regulation 6

£1,000

€1,265

European Communities (Counterfeit and Pirated Goods) Regulations, 1996 (S.I. No. 48 of 1996)

Regulation 4(2)

£400

€505

Regulation 10(1)

£1,000

€1,265

Regulation 10(2)

£1,000

€1,265

Regulation 11

£1,000

€1,265

PART 3 Excise duties and related matters

PART 3

Excise duties and related matters

Enactment amended

Amount or words to be replaced

Amount or words to be inserted

(1)

(2)

(3)

Illicit Distillation (Ireland) Act, 1831 (1 & 2 Will. 4, c. 55) (as amended)

section 10

£1,000

€1,265

section 11

£1,000

€1,265

section 12

£1,000

€1,265

section 13

£1,000

€1,265

section 14

£1,000

€1,265

section 16

£1,000

€1,265

section 17

£1,000

€1,265

section 19

£1,000

€1,265

section 22

£1,000

€1,265

section 23

£1,000

€1,265

section 24

£1,000

€1,265

section 25

£1,000

€1,265

section 27

£1,000

€1,265

section 28

£1,000

€1,265

section 30

£1,000

€1,265

Illicit Distillation (Ireland) Act, 1831

section 36

twenty pounds

€25

section 36

ten pounds

€12.50

section 42

two pounds

€2

section 42

three pounds

€3

section 42

four pounds

€5

section 42

six pounds

€7

section 42

twelve pounds

€15

section 42

fifteen pounds

€19

section 42

eighteen pounds

€22

section 44

one hundred pounds

€125

Spirits (Ireland) Act, 1854 (17 & 18 Vict., c. 89) (as amended)

section 2

four pounds

€5

section 2

ten pounds

€12

section 2

twenty pounds

€25

section 4

five shillings

€0.30

section 4

ten shillings

€0.60

section 4

twenty shillings

€1

section 5

twenty shillings

€1

section 5

four pounds

€5

section 6

forty shillings

€2

section 6

eighty shillings

€5

section 6

ten pounds

€12

section 6

twenty pounds

€25

Spirits Act, 1880 (43 & 44 Vict., c. 24) (as amended)

section 5(2)

five hundred pounds

€630

section 6

five hundred pounds

€630

section 7(1)

five hundred pounds

€630

section 7(2)

one hundred pounds

€125

section 8(1)

ten pounds

€12

section 9(3)

fifteen pounds

€19

section 10(2)

five hundred pounds

€630

section 11(3)

two hundred pounds

€250

section 14(2)(a)

two hundred pounds

€250

section 14(2)(b)

two hundred pounds

€250

section 14(2)(b)

twenty pounds

€25

section 14(2)(c)

two hundred pounds

€250

section 14(2)(d)

fifty pounds

€60

section 14(2)(f)

two hundred pounds

€250

section 14(2)(f)

twenty shillings

€1

section 15(3)

two hundred pounds

€250

section 17

two hundred pounds

€250

section 18(b)

five hundred pounds

€630

section 19(5)

two hundred pounds

€250

section 22(2)

two hundred pounds

€250

section 23(5)

fifty pounds

€60

section 24

fifty pounds

€60

section 25(7)

five hundred pounds

€630

section 26(2)

two hundred pounds

€250

section 27

fifty pounds

€60

section 28(3)

two hundred pounds

€250

section 29

two hundred pounds

€250

section 30(d)

two hundred pounds

€250

section 31

two hundred pounds

€250

section 33(5)

two hundred pounds

€250

section 35(2)

two hundred pounds

€250

section 36

two hundred pounds

€250

section 36

six pence

€0.03

section 38(11)

two hundred pounds

€250

section 39(d)

two hundred pounds

€250

section 40(3)

two hundred pounds

€250

section 40(4)

two hundred pounds

€250

section 40(4)

fifty pence

€0.60

section 41(2)

two hundred pounds

€250

section 43(10)

two hundred pounds

€250

section 43(11)

twenty shillings

€1

section 43(12)

fifty pounds

€60

section 44(2)

twenty shillings

€1

section 47(2)

twenty pounds

€25

section 51

fifty pounds

€60

section 58(9)

two hundred pounds

€250

section 60

five pounds

€6

section 64(3)

fifty pounds

€60

section 65(4)

twenty shillings

€1

section 84(d)

two hundred pounds

€250

section 87(2)

five hundred pounds

€630

section 88(3)

two hundred pounds

€250

section 89(3)

five hundred pounds

€630

section 89(3)

twenty shillings

€1

section 90(3)

two hundred pounds

€250

section 91(2)

two hundred pounds

€250

section 91(3)

one hundred pounds

€125

section 91(4)

fifty pounds

€60

section 92

five hundred pounds

€630

section 93(2)

fifty pounds

€60

section 94(3)

twenty shillings

€1

section 94(4)

twenty shillings

€1

section 98(2)

fifty pounds

€60

section 99(2)

fifty pounds

€60

section 101(3)

two hundred pounds

€250

section 102(4)

fifty pounds

€60

section 103(2)

twenty shillings

€1

section 105(8)

one hundred pounds

€125

section 107(1)

five hundred pounds

€630

section 109(1)

one hundred pounds

€125

section 110(1)

five hundred pounds

€630

section 110(2)

five hundred pounds

€630

section 111(2)

fifty pounds

€60

section 113

one hundred pounds

€125

section 126(1)

fifty pounds

€60

section 127(2)

fifty pounds

€60

section 128(1)

fifty pounds

€60

section 129

one hundred pounds

€125

section 130(1)

one hundred pounds

€125

section 131

two hundred pounds

€250

section 135(5)

one hundred pounds

€125

section 136(3)

one hundred pounds

€125

section 136(5)

five hundred pounds

€630

section 137(2)

two hundred pounds

€250

section 138

one hundred pounds

€125

section 140(3)

two hundred pounds

€250

section 142

fifty pounds

€60

section 143(3)

two hundred pounds

€250

section 144(1)

one hundred pounds

€125

section 145(3)

one hundred pounds

€125

section 145(4)

ten pounds

€12

section 146(1)

one hundred pounds

€125

section 146(2)

twenty five pounds

€31

section 146(2)

six pounds

€7

section 147

one hundred pounds

€125

section 148

one hundred pounds

€125

section 150

five hundred pounds

€630

section 152

two hundred pounds

€250

section 153

twenty pounds

€25

Inland Revenue Act, 1880 (43 & 44 Vict., c. 20) (as amended)

section 21(4)

one hundred pounds

€125

section 29(2)

one hundred pounds

€125

section 30(3)

one hundred pounds

€125

Revenue Act, 1889 (52 & 53 Vict., c. 42) (as amended)

section 27(3)

fifty pounds

€60

Finance Act, 1901 (1 Edw. 7, c. 7) (as amended)

section 8

fifty pounds

€60

Finance Act, 1902 (2 Edw. 7, c. 7) (as amended)

section 8(3)

fifty pounds

€60

Revenue Act, 1906 (6 Edw. 7, c. 20) (as amended)

section 2(2)

fifty pounds

€60

section 2(3)

fifty pounds

€60

section 3(3)

fifty pounds

€60

section 7(2)

fifty pounds

€60

Finance (1909-1910) Act, 1910 (10 Edw. 7, c. 8)

section 50(1)

five hundred pounds

€630

section 50(2)

£500

€630

section 50(3)

£1,000

€1,265

section 50(4)

fifty pounds

€60

Finance Act, 1911 (1 & 2 Geo. 5, c. 48) (as amended)

section 10

fifty pounds

€60

Finance Act, 1915 (5 & 6 Geo. 5, c. 26) (as amended)

section 8(3)

one hundred pounds

€125

Finance Act, 1921 (11 & 12 Geo. 5, c. 32) (as amended)

section 14(3)

two hundred pounds

€250

section 16(2)

one hundred pounds

€125

Finance Act, 1926 (No. 35 of 1926) (as amended)

section 26(2)

£500

€630

section 24(4)

£1,500

€1,900

section 25(2)

£1,500

€1,900

Finance Act, 1929 (No. 32 of 1929)

section 32

five hundred pounds

€630

Betting Act, 1931 (No. 27 of 1931) (as amended)

section 2(2)

£1,500

€1,900

section 11(1)(m)

fifteen pounds

€19

section 11(1)(m)

ten pounds

€12

section 11(1)(m)

five pounds

€6

section 15(4)

ten pounds

€12

section 17(4)

twenty pounds

€25

section 19(5)

one hundred pounds

€125

section 20(6)

one hundred pounds

€125

section 21(2)

fifty pounds

€60

section 22(1)

one shilling

€0.06

section 22(2)

twenty pounds

€25

section 23(3)

one hundred pounds

€125

section 24(2)

ten pounds

€12

section 25(4)

twenty pounds

€25

section 26(3)

twenty pounds

€25

section 29(2)

fifty pounds

€60

Betting Act, 1931 (No. 27 of 1931)

section 29(2)

one hundred pounds

€125

section 30(1)

five pounds

€6

section 31(1)

five pounds

€6

section 31(2)

five pounds

€6

section 32(3)

twenty five pounds

€31

section 32(3)

one hundred pounds

€125

section 33(2)

one hundred pounds

€125

Finance Act, 1939 (No. 18 of 1939)

section 18(5)

£500

€630

Finance Act, 1940 (No. 14 of 1940) (as amended)

section 10(5)

five hundred pounds

€630

section 10(7)

five hundred pounds

€630

section 10(8)

twenty pounds

€25

Auctioneers and House Agents Act, 1947 (No. 10 of 1947) (as amended)

section 6(3)

£500

€630

section 7(3)

£500

€630

Immature Spirits (Restriction) Act, 1947 (No. 12 of 1947) (as amended)

section 2(6)

one hundred pounds

€125

Finance Act, 1966 (No. 17 of 1966) (as amended)

section 15(3)

one hundred pounds

€125

Finance Act, 1975 (No. 6 of 1975) (as amended)

section 43(2)(a)

£5

€7

section 43(5)

£1,000

€1,265

section 43(7)(aa)(i)(A)

£25

€31

section 43(7)(aa)(i)(B)

£50

€60

section 43(7)(aa)(i)(C)

£75

€95

section 43(7)(aa)(i)(D)

£100

€125

section 43(10)(c)

£100

€125

Finance (Excise Duty on Tobacco Products) Act, 1977 (No. 32 of 1977) (as amended)

section 6(5)

£500

€630

section 7(3)(c)

£50

€60

section 10(1)(a)

£150

€190

section 10(5)

£1,500

€1,900

section 10A(3)(a)

£1,500

€1,900

section 10A(3)(b)

£10,000

€12,695

section 11

£1,500

€1,900

Finance Act, 1980 (No. 14 of 1980) (as amended)

section 74(1)(a)

£100

€125

section 74(1)(b)

£200

€250

section 74(1)(c)

£300

€380

section 74(1)(d)

£400

€505

section 78(2)

£20

€25

section 78(2)

£125

€155

section 78(3)

£90

€110

section 78(4)

£90

€110

section 78(5)

£90

€110

Finance Act, 1984 (No. 9 of 1984) (as amended)

section 76(5)

£100

€125

section 76(6)(c)

£500

€630

section 76(8)(b)

£1,500

€1,900

section 76(9)

£1,000

€1,265

Finance Act, 1988 (No. 12 of 1988) (as amended)

section 57(3)(a)

£1,000

€1,265

section 57(3)(b)

£10,000

€12,695

Intoxicating Liquor Act, 1988 (No. 16 of 1988)

section 9

£3,000

€3,805

Finance Act, 1989 (No. 10 of 1989) (as amended)

section 42(3)

£1,500

€1,900

Finance Act, 1992 (No. 9 of 1992) (as amended)

section 91(2)(b)

£1,000

€1,265

section 93(5)

£1,000

€1,265

section 94(2)

£1,000

€1,265

section 96(4)

£1,000

€1,265

section 97(1)

£1,000

€1,265

section 97(3)(a)

£1,000

€1,265

section 97(3)(b)

£10,000

€12,695

section 99(3)

£1,000

€1,265

section 120(2)(d)(ii)

£5

€7

section 123(a)

£100

€125

section 123(b)

£30

€38

section 123(c)

£60

€75

section 126(1)

£100

€125

section 126(2)

£1,000

€1,265

section 128(2)

£1,000

€1,265

section 132(3)(a)

£250

€315

section 132(3)(aa)

£250

€315

section 132(3)(b)

£250

€315

section 132(3)(c)

£100

€125

section 132(3)(d)

£40

€50

Finance Act, 1992 (No. 9 of 1992)

section 132(3)(f)(i)

£2

€2

section 132(3)(f)(ii)

£2

€2

section 132(3)(f)(ii)

£1

€1

section 139(2)

£1,000

€1,265

section 139(4)

£1,000

€1,265

section 139(5)(a)

£1,000

€1,265

section 139(5)(b)

£10,000

€12,695

Table to section 155(2)

£150,000

€190,500

Table to section 155(2)

£200

€250

Table to section 155(2)

£300,000

€381,000

Table to section 155(2)

£400

€505

Table to section 155(2)

£500,000

€635,000

Table to section 155(2)

£900

€1,140

Table to section 155(2)

£750,000

€952,500

Table to section 155(2)

£1,400

€1,775

Table to section 155(2)

£1,000,000

€1,270,000

Table to section 155(2)

£2,000

€2,535

Table to section 155(2)

£3,000

€3,805

section 155(2)(b)(i)

£200

€250

section 155(2)(b)(ii)

£200

€250

section 155(2)(b)(iia)

£200

€250

section 155(2)(b)(iib)

£200

€250

section 155(2)(b)(iic)

£200

€250

section 155(2)(b)(iid)

£200

€250

section 155(2)(b)(iii) proviso I

£200

€250

section 155(2)(b)(iii) proviso II

£200

€250

section 155(4)

£1,000

€1,265

section 159(1)

£60

€75

section 159(2)

£10

€12

section 161

£400

€505

Part I of the Sixth Schedule

£200

€250

Part I of the Sixth Schedule

£40

€50

Part II of the Sixth Schedule

£30

€38

Part II of the Sixth Schedule

£5

€6

Part II of the Sixth Schedule

£20

€25

Part III of the Sixth Schedule

£125

€155

Part III of the Sixth Schedule

£250

€315

Part III of the Sixth Schedule

£375

€475

Part III of the Sixth Schedule

£500

€630

Part IV of the Sixth Schedule

£150

€190

Part IV of the Sixth Schedule

£10

€12

Part IV of the Sixth Schedule

£200

€250

Part IV of the Sixth Schedule

£100

€125

Finance Act, 1994 (No. 13 of 1994) (as amended)

section 80

£15.65

€19.87

Fourth Schedule

£35.03

€44.47

Fourth Schedule

£151.59

€192.47

Fourth Schedule

£215.01

€273.00

Fourth Schedule

£311.97

€396.12

Fourth Schedule

£430.02

€546.01

Fifth Schedule

£71.66

€90.98

Fifth Schedule

£215.01

€273.00

Fifth Schedule

£311.97

€396.12

Fifth Schedule

£430.02

€546.01

Finance Act, 1995 (No. 8 of 1995) (as amended)

Section 111

£200

€250

Finance Act, 1996 (No. 9 of 1996) (as amended)

Second Schedule

£21.75

€27.61

Second Schedule

£15.65

€19.87

Finance Act, 1998 (No. 3 of 1998)

section 86

£300

€380

Finance Act, 1999 (No. 2 of 1999) (as amended)

section 98(1)

£4.40

€5.58

section 99(1)

£17.90

€22.72

section 101(8)

£200

€250

section 102(2)

£1,500

€1,900

section 102(4)(a)

£1,500

€1,900

section 102(4)(b)

£10,000

€12,695

Schedule 2

£361.36

€458.83

Schedule 2

£274.44

€348.46

Schedule 2

£357.22

€453.57

Schedule 2

£180.68

€229.41

Schedule 2

£196.14

€249.04

Schedule 2

£256.14

€325.23

Schedule 2

£25.00

€31.74

Schedule 2

£10.60

€13.45

Schedule 2

£37.30

€47.36

Schedule 2

£41.75

€53.01

Schedule 2

£14.30

€18.15

Schedule 2

£196.14

€249.04

Schedule 2

£37.30

€47.36

Finance Act, 2000 (No. 3 of 2000)

section 105

£200

€250

Intoxicating Liquor Act, 2000 (No. 17 of 2000)

section 20(4)(a)

£2,500

€3,170

Finance Act, 2001

section 119(3)(a)

£1,500

€1,900

section 119(3)(b)

£10,000

€12,695

section 124

£1,500

€1,900

section 128(1)

£5,000

€6,350

section 156(2)(a)

£361.36

€458.83

section 156(2)(a)

£274.44

€348.46

section 156(2)(a)

£357.22

€453.57

section 156(2)(a)

£180.68

€229.41

section 156(2)(a)

£196.14

€249.04

section 156(2)(a)

£256.14

€325.23

section 156(2)(a)

£25.00

€31.74

section 156(2)(a)

£10.60

€13.45

section 156(2)(a)

£37.30

€47.36

section 156(2)(a)

£41.75

€53.01

section 156(2)(a)

£14.30

€18.15

section 156(2)(a)

£196.14

€249.04

section 156(2)(a)

£37.30

€47.36

section 171

£200

€250

Schedule 4

£81.68

€103.71

Schedule 4

£124.840

€158.514

Schedule 4

£105.347

€133.763

Schedule 4

£86.609

€109.970

European Communities (Customs and Excise) Regulations, 1992 (S.I. No. 394 of 1992)

Regulation 5(6)

£1,000

€1,265

Regulation 20(4)

£1,000

€1,265

Vehicle Registration and Taxation (No. 2) Regulations, 1992 (S.I. No. 437 of 1992)

Regulation 6(2)

£250

€315

Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (S.I. No. 353 of 1994)

Regulation 9

£7,500

€9,525

Regulation 11

£12,500

€15,875

Regulation 13

£12,500

€15,875

PART 4 Value-Added Tax and related matters

PART 4

Value-Added Tax and related matters

Enactment amended

Amount or words to be replaced

Amount or words to be inserted

(1)

(2)

(3)

Value-Added Tax Act, 1972 (No. 22 of 1972) (as amended)

section 3(6)(d)(A)

£27,565

€35,000

section 4A(4)

£X

€X

section 8(1A)(b)

£32,000

€41,000

section 8(3)(a)(i)

£20,000

€25,500

section 8(3)(a)(ia)

£40,000

€51,000

section 8(3)(a)(ii)

£40,000

€51,000

section 8(3)(a)(iii)

£20,000

€25,500

section 8(3)(a)(iv)

£40,000

€51,000

section 8(3)(c)(i)

£40,000

€51,000

section 8(3)(e)

£20,000

€25,500

section 8(3A)

£20,000

€25,500

section 8(9)(b)(ii)

£20,000

€25,500

section 10A(8)(b)

£500

€635

section 10A(8)(c)

£500

€635

section 11(3)

25 pence

40 cents

section 14(1)(b)

£500,000

€635,000

section 15A(3)(c)

£100

€130

section 21(1)

£5

€6

section 26(1)

£1,200

€1,520

section 26(2)

£750

€950

section 26(2A)

£750

€950

section 26(3)

£750

€950

section 26(3A)

£1,000

€1,265

section 26(3B)

£1,200

€1,520

section 27(1)(a)

£100

€125

section 27(2)(a)

£100

€125

section 27(2)(a)

£500

€630

section 27(2)(a)

£1,000

€1,265

section 27(2)(b)

£100

€125

section 27(2)(b)

£200

€250

section 27(4)

£500

€630

section 27(4A)

£500

€630

section 27(5)(b)(i)

£100

€125

section 28

£750

€950

paragraph (viib) of the Sixth Schedule

£20,000

€25,500

paragraph (viic) of the Sixth Schedule

£20,000

€25,500

Value-Added Tax Regulations, 1979 (S.I. No. 63 of 1979)

Regulation 18

£15

€20

Regulation 24(2)

£500

€635

Regulation 31

£15

€20

European Communities (Exemption from Value-Added Tax on the Permanent Importation of Certain Goods) Regulations, 1985 (S.I. No. 183 of 1985)

Regulation 5(2)(b)

200 ECU

€200

Regulation 5(2)(c)

200 ECU

€200

Regulation 5(2)(c)

1,000 ECU

€1,000

Regulation 8

10 ECU

€10

Regulation 31

£500

€630

Value-Added Tax (Statement of Intra-Community Supplies) Regulations, 1993 (S.I. No. 54 of 1993)

Regulation 9(1)

£60,000

€85,000

Regulation 9(1)

£12,000

€15,000

Regulation 9(2)

£150,000

€200,000

Regulation 9(2)

£12,000

€15,000

European Communities (Intrastat) Regulations, 1993 (S.I. No. 136 of 1993)

Regulation 11(2)

£1,000

€1,265

Regulation 11(3)

£50

€60

Value-Added Tax (Refund of Tax) (No. 23) Order, 1992 (S.I. No. 58 of 1992)

paragraph 2(a)

£20,000

€25,390

Value-Added Tax (Refund of Tax) (No. 25) Order, 1993 (S.I. No. 266 of 1993)

paragraph 8

£100

€125

Value-Added Tax (Refund of Tax) (No. 27) Order, 1995 (S.I. No. 38 of 1995)

subparagraph (a) of the definition of “qualifying goods” in paragraph 2

£20,000

€25,390

Value-Added Tax (Refund of Tax) (No. 29) Order, 1996 (S.I. No. 334 of 1996)

paragraph 9

£250

€315

paragraph 13

£100

€125

PART 5 Capital Acquisitions Tax and related matters

PART 5

Capital Acquisitions Tax and related matters

Enactment amended

Amount or words to be replaced

Amount or words to be inserted

(1)

(2)

(3)

Capital Acquisitions Tax Act, 1976 (No. 8 of 1976) (as amended)

section 53(1)

£1,000

€1,270

section 54(1)(b)

£15,000

€19,050

section 61(3)

£1,000

€1,265

section 63(1)(a)

£2,000

€2,535

section 63(1)(b)

£25

€30

section 63(2)

£1,000

€1,265

Capital Acquisitions Tax Act, 1976

section 63(3)(i)

£5,000

€6,345

section 63(7)

£1,000

€1,265

FIRST SCHEDULE, PART II, TABLE A

£1

€1

FIRST SCHEDULE, PART III, TABLE B

£1

€1

SECOND SCHEDULE, PART I, paragraph 1(a)

£300,000

€381,000

SECOND SCHEDULE, PART I, paragraph 1(b)

£30,000

€38,100

SECOND SCHEDULE, PART I, paragraph 1(c)

£15,000

€19,050

Finance Act, 1986 (No. 13 of 1986)

section 108(a)

£1,000

€1,265

Finance Act, 1993 (No. 13 of 1993)

section 111(l)(i)

£1,000

€1,265

section 111(l)(i)

£5,000

€6,345

section 111(l)(ii)

£400

€505

section 111(l)(ii)

£2,000

€2,535

section 111(l)(iii)

£200

€250

section 111(l)(iii)

£1,000

€1,265

section 111(l)(iv)

£5

€6

section 111(l)(iv)

£25

€30

Finance Act, 1994 (No. 13 of 1994) (as amended)

section 146(4B)(a)(I)

£100,000

€127,000

section 146(4B)(a)(II)(B)

£15,000

€19,050

section 146(4C)(b)

£2,000

€2,540

section 146(4C)(c)

£2,000

€2,540

PART 6 Stamp Duties and related matters

PART 6

Stamp Duties and related matters

Enactment amended

Amount or words to be replaced

Amount or words to be inserted

(1)

(2)

(3)

Stamp Duties Consolidation Act, 1999 (No. 31 of 1999) (as amended)

section 5(4)

£100

€125

section 8(3)

£1,000

€1,265

section 10(4)

£500

€630

section 14(1)

penalty of £20

penalty of €25

section 14(1)

exceeds £20

exceeds €30

section 15(2)

£5,000

€6,350

section 25(2)

£500

€630

section 38(1)

£100

€130

section 42(3)

£10

€12.50

section 59(1)

£500

€630

section 62

£1

€1

section 65

£500

€630

section 66(2)

£500

€630

section 70(2)(b)

penny

cent

section 75(5)

£1,000

€1,265

section 76(2)

£1,000

€1,265

section 76(3)

£1,000

€1,265

section 83(1)

£10

€12.50

section 92A(1)

£1

€1

section 92A(1)

up to the nearest £

down to the nearest €

section 92B(2)

£1

€1

section 92B(2)

up to the nearest £

down to the nearest €

section 117(1)

£1

€1

section 117(1)

up to the nearest £

down to the nearest €

section 117(2)(a)

£1

€1

section 123(3)(b)(ii)

£10

€12.70

section 123(4)

£5

€6.25

section 123(7)

£300

€380

section 124(1)(c)

£15

€19

section 124(2)(c)

£7.50

€9.50

section 124(2)(d)(ii)

£15

€19

section 124(5)(b)

£300

€380

section 128(2)

£100

€125

section 129(1)

£500

€630

section 142(4)

£1,000

€1,265

section 144(1)

£500

€630

section 146(3)

£1,000

€1,265

section 146(5)

£1,000

€1,265

section 147(2)

£1,000

€1,265

Heading “BILL OF EXCHANGE or PROMISSORY NOTE.”, in Schedule 1

7p

€0.08

Heading “CONVEYANCE or TRANSFER on sale of any stocks or marketable securities.”, in Schedule 1

£1

€1

Heading “CONVEYANCE or TRANSFER on sale of any stocks or marketable securities.”, in Schedule 1

up to the nearest £

down to the nearest €

Heading “CONVEYANCE or TRANSFER on sale of a policy of insurance or a policy of life insurance where the risk to which the policy relates is located in the State.”, in Schedule 1

£1

€1

Heading “CONVEYANCE or TRANSFER on sale of a policy of insurance or a policy of life insurance where the risk to which the policy relates is located in the State.”, in Schedule 1

up to the nearest £

down to the nearest €

Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance.”, in Schedule 1

paragraph (1)

£100,000

€127,000

paragraph (1)

£1

€1

paragraph (1)

up to the nearest £

down to the nearest €

paragraph (2)

£150,000

€190,500

paragraph (2)

£1

€1

paragraph (2)

up to the nearest £

down to the nearest €

paragraph (3)

£200,000

€254,000

paragraph (3)

£1

€1

paragraph (3)

up to the nearest £

down to the nearest €

paragraph (4)

£250,000

€317,500

paragraph (4)

£1

€1

paragraph (4)

up to the nearest £

down to the nearest €

paragraph (5)

£300,000

€381,000

paragraph (5)

£1

€1

paragraph (5)

up to the nearest £

down to the nearest €

paragraph (6)

£500,000

€635,000

paragraph (6)

£1

€1

paragraph (6)

up to the nearest £

down to the nearest €

paragraph (6A)

£1

€1

paragraph (6A)

up to the nearest £

down to the nearest €

paragraph (7)

£5,000

€6,350

paragraph (8)

£10,000

€12,700

paragraph (8)

£1

€1

paragraph (8)

up to the nearest £

down to the nearest €

paragraph (9)

£15,000

€19,050

paragraph (9)

£1

€1

paragraph (9)

up to the nearest £

down to the nearest €

paragraph (10)

£25,000

€31,750

paragraph (10)

£1

€1

paragraph (10)

up to the nearest £

down to the nearest €

paragraph (11)

£50,000

€63,500

paragraph (11)

£1

€1

paragraph (11)

up to the nearest £

down to the nearest €

paragraph (12)

£60,000

€76,200

paragraph (12)

£1

€1

paragraph (12)

up to the nearest £

down to the nearest €

paragraph (13)

£1

€1

paragraph (13)

up to the nearest £

down to the nearest €

paragraph (14)

£1

€1

paragraph (14)

up to the nearest £

down to the nearest €

paragraph (15)

£1

€1

paragraph (15)

up to the nearest £

down to the nearest €

Heading “CONVEYANCE or TRANSFER of any kind not already described in this Schedule.”, in Schedule 1

£10

€12.50

Heading “DUPLICATE or COUNTERPART of any instrument chargeable with any duty.”, in Schedule 1

£10

€12.50

Heading “EXCHANGE — instruments effecting.”, in Schedule 1

£10

€12.50

Heading “LEASE.”, in Schedule 1

paragraph (1)

£15,000

€19,050

paragraph (3)(a)(i)

£100,000

€127,000

paragraph (3)(a)(i)

£1

€1

paragraph (3)(a)(i)

up to the nearest £

down to the nearest €

paragraph (3)(a)(ii)

£150,000

€190,500

paragraph (3)(a)(ii)

£1

€1

paragraph (3)(a)(ii)

up to the nearest £

down to the nearest €

paragraph (3)(a)(iii)

£200,000

€254,000

paragraph (3)(a)(iii)

£1

€1

paragraph (3)(a)(iii)

up to the nearest £

down to the nearest €

paragraph (3)(a)(iv)

£250,000

€317,500

paragraph (3)(a)(iv)

£1

€1

paragraph (3)(a)(iv)

up to the nearest £

down to the nearest €

paragraph (3)(a)(v)

£300,000

€381,000

paragraph (3)(a)(v)

£1

€1

paragraph (3)(a)(v)

up to the nearest £

down to the nearest €

paragraph (3)(a)(vi)

£500,000

€635,000

paragraph (3)(a)(vi)

£1

€1

paragraph (3)(a)(vi)

up to the nearest £

down to the nearest €

paragraph (3)(a)(vii)

£1

€1

paragraph (3)(a)(vii)

up to the nearest £

down to the nearest €

paragraph (3)(b)(i)

£5,000

€6,350

paragraph (3)(b)(ii)

£10,000

€12,700

paragraph (3)(b)(ii)

£1

€1

paragraph (3)(b)(ii)

up to the nearest £

down to the nearest €

paragraph (3)(b)(iii)

£15,000

€19,050

paragraph (3)(b)(iii)

£1

€1

paragraph (3)(b)(iii)

up to the nearest £

down to the nearest €

paragraph (3)(b)(iv)

£25,000

€31,750

paragraph (3)(b)(iv)

£1

€1

paragraph (3)(b)(iv)

up to the nearest £

down to the nearest €

paragraph (3)(b)(v)

£50,000

€63,500

paragraph (3)(b)(v)

£1

€1

paragraph (3)(b)(v)

up to the nearest £

down to the nearest €

paragraph (3)(b)(vi)

£60,000

€76,200

paragraph (3)(b)(vi)

£1

€1

paragraph (3)(b)(vi)

up to the nearest £

down to the nearest €

paragraph (3)(b)(vii)

£1

€1

paragraph (3)(b)(vii)

up to the nearest £

down to the nearest €

paragraph (3)(b)(viii)

£1

€1

paragraph (3)(b)(viii)

up to the nearest £

down to the nearest €

paragraph (3)(c)(i)

£1

€1

paragraph (3)(c)(i)

up to the nearest £

down to the nearest €

paragraph (3)(c)(ii)

£1

€1

paragraph (3)(c)(ii)

up to the nearest £

down to the nearest €

paragraph (3)(c)(iii)

£1

€1

paragraph (3)(c)(iii)

up to the nearest £

down to the nearest €

paragraph (4)

£10

€12.50

paragraph (5)

£10

€12.50

Heading “MORTGAGE, BOND, DEBENTURE, COVENANT (except a marketable security) which is a security for the payment or repayment of money which is a charge or incumbrance on property situated in the State other than shares in stocks or funds of the Government or the Oireachtas.”, in Schedule 1

paragraph (1)

£1

€1

paragraph (1)

up to the nearest £

down to the nearest €

paragraph (1)

£500

€630

paragraph (2)

£10

€12.50

paragraph (3)

£1

€1

paragraph (3)

up to the nearest £

down to the nearest €

paragraph (3)

£500

€630

paragraph (4)

£1

€1

paragraph (4)

up to the nearest £

down to the nearest €

paragraph (4)

£500

€630

Heading “POLICY OF INSURANCE other than Life Insurance where the risk to which the policy relates is located in the State.”, in Schedule 1

£15

€20

Heading “POLICY OF INSURANCE other than Life Insurance where the risk to which the policy relates is located in the State.”, in Schedule 1

£1

€1

Heading “RELEASE or RENUNCIATION of any property, or of any right or interest in any property.”, in Schedule 1

£10

€12.50

Heading “SURRENDER of any property, or of any right or interest in any property.”, in Schedule 1

£10

€12.50

PART 7 Residential Property Tax and related matters

PART 7

Residential Property Tax and related matters

Enactment amended

Amount or words to be replaced

Amount or words to be inserted

(1)

(2)

(3)

Part VI of the Finance Act, 1983 (No. 15 of 1983) (as amended)

section 100(1)

£300,000

€382,000

section 100(1)

£1,000

€1,000

section 112(1)(a)

£1,000

€1,265

section 112(1)(b)

£50

€60

section 112(2)

£1,000

€1,265

section 112(3)(d)(i)

£2,000

€2,535

section 112(7)

£1,000

€1,265

FINANCE ACT, 2001

Statutory Text (5 Articles)

Need to analyze how this provision applies to your matter?