Finance Act, 1991

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Temple Bar reliefs.

55.—(1) (a) In this subsection—

“multi-storey car-park” means a building or structure consisting of three or more storeys wholly or mainly in use for the purpose of providing, for members of the public generally without preference for any particular class of person, upon payment of an appropriate charge, parking for mechanically propelled vehicles;

“qualifying building” means a dwelling-house or other building or structure—

(i) which is constructed in the Temple Bar Area in the period from the 6th day of April, 1991, to the 5th day of April, 1996, and

(ii) which would be qualifying premises for the purposes of section 42 , 44 or 45 of the Finance Act, 1986 , as the case may be, in the circumstancesdescribed in section 54 (3), if paragraph (a) of the definition of “qualifying premises” in subsection (1) of the said section 42 had not been enacted.

(b) As respects any qualifying building, the following provisions shall have effect, as appropriate, in the following manner, that is to say—

(i) section 42 of the Finance Act, 1986 , other than paragraph (a) of the definition of “qualifying premises” in subsection (1) of that section, shall have effect in its entirety as respects capital expenditure incurred on the construction of any such building and on the basis that subsection (4) of that section has effect as respects any qualifying building to which that section applies other than a multi-storey car-park;

(ii) section 44 of the Finance Act, 1986 , shall have effect as respects any qualifying expenditure (being qualifying expenditure for the purposes of that section) incurred on the construction but not on the refurbishment of any such building;

(iii) section 45 of the Finance Act, 1986 , shall have effect as respects rent payable for any such building.

(2) (a) In this subsection—

“qualifying building” means an existing dwelling-house or other building or structure in the Temple Bar Area as on the 1st day of January, 1991, which would be qualifying premises for the purposes of section 42 , 44 or 45 of the Finance Act, 1986 , as the case may be, in the circumstances described in section 54 (3), if paragraph (a) of the definition of “qualifying premises” in subsection (1) of the said section 42 had not been enacted;

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

(b) As respects any qualifying building, the following provisions shall have effect, as appropriate, in the following manner, that is to say—

(i) section 42 of the Finance Act, 1986 , other than paragraph (a) of the definition of “qualifying premises” in subsection (1) and subsection (4), shall have effect as respects capital expenditure incurred on the refurbishment of any such building;

(ii) section 44 of the Finance Act, 1986 , shall have effect as respects qualifying expenditure (being qualifying expenditure for the purposes of that section) incurred on the refurbishment of any such building—

(I) as if the definition of “refurbishment” in this subsection were substituted for the definition of“refurbishment” provided for in the said section 44, and

(II) as if the reference in subsection (2) of the said section 44 to “5 per cent.” were a reference to “10 per cent.”,

and

(iii) section 45 of the Finance Act, 1986 , shall have effect as respects rent payable in respect of any such building:

Provided that capital expenditure for the purposes of subparagraph (i) and expenditure for the purposes of subparagraph (ii) of this paragraph shall be deemed to include—

(I) any expenditure incurred on the purchase of the qualifying building which is the subject of the capital expenditure referred to in the said subparagraph (i) or the expenditure on refurbishment referred to in the said subparagraph (ii), as the case may be, other than expenditure incurred on the acquisition of, or of rights in or over, any land, or

(II) an amount which is equal to the amount of the value of the said building as on the 1st day of January, 1991, other than any amount of such value as is attributable to, or to rights in or over, any land,

whichever is the lesser, if the expenditure specified at clause (I) of this proviso or the amount specified at clause (II) of this proviso, as the case may be, is not greater than the amount of the capital expenditure referred to in the said subparagraph (i) or the amount of expenditure on refurbishment referred to in the said subparagraph (ii), as the case may be.

(3) Notwithstanding any other provision of the Tax Acts, where part of a qualifying building, within the meaning of subsection (1) (a) or (2) (a), is used for commercial purposes and part is used for residential purposes, the total amount of the expenditure incurred on the construction or refurbishment of the building shall be apportioned as between the respective parts of the building in such manner as is just and reasonable for the purpose of giving effect to the provisions of this section.