Finance Act 2003
|
Provisions relating to certain industrial buildings or structures. |
25.—(1) Chapter 1 of Part 9 of the Principal Act is amended— | |
(a) in section 268— | ||
(i) in subsection (3) by substituting “shall, subject to subsection (13), be deemed” for “shall be deemed”, | ||
(ii) in subsection (12)— | ||
(I) by substituting the following for “6 April 2001,”: | ||
“6 April 2001 (being capital expenditure in respect of which but for this subsection a writing-down allowance in excess of 4 per cent would be available under section 272 for a chargeable period),”, | ||
and | ||
(II) by substituting the following for paragraph (c): | ||
“(c) that, in the case of expenditure incurred on or after 1 January 2003 on the construction or refurbishment of a building or structure provided for the purposes of a project which is subject to the notification requirements of— | ||
(i) the ‘Multisectoral framework on regional aid for large investment projects’1 prepared by the Commission of the European Communities and dated 7 April 1998, or | ||
(ii) the ‘Multisectoral framework on regional aid for large investment projects’2 prepared by the Commission of the European Communities and dated 19 March 2002, | ||
as the case may be, approval of the potential capital allowances involved has been received from that Commission by the Minister for Finance, or by such other Minister of the Government, agency or body as may be nominated for that purpose by the Minister for Finance, and”, | ||
and | ||
(iii) by inserting the following after subsection (12): | ||
“(13) (a) Notwithstanding subsection (3) but subject to paragraph (b), a holiday cottage referred to in that subsection shall not, as respects capital expenditure incurred on or after 4 December 2002 on its construction (within the meaning of section 270), be deemed to be a building or structure in use for the purposes of the trade of hotelkeeping. | ||
(b) This subsection shall not apply as respects expenditure incurred on or before 31 December 2004 on the construction or refurbishment of a holiday cottage if— | ||
(i) (I) a planning application (not being an application for outline permission within the meaning of section 36 of the Planning and Development Act 2000 ) in respect of the holiday cottage is made in accordance with the Planning and Development Regulations 2001 to 2002, | ||
(II) an acknowledgement of the application, which confirms that the application was received on or before 31 May 2003, is issued by the planning authority in accordance with article 26(2) of the Planning and Development Regulations 2001 ( S.I. No. 600 of 2001 ), and | ||
(III) the application is not an invalid application in respect of which a notice is issued by the planning authority in accordance with article 26(5) of those regulations, | ||
or | ||
(ii) (I) a planning application in respect of the holiday cottage was made in accordance with the Local Government (Planning and Development) Regulations 1994 ( S.I. No. 86 of 1994 ), not being an application for outline permission within the meaning of article 3 of those regulations, | ||
(II) an acknowledgement of the application, which confirms that the application was received on or before 10 March 2002, was issued by the planning authority in accordance with article 29(2)(a) of the regulations referred to in clause (I), and | ||
(III) the application was not an invalid application in respect of which a notice was issued by the planning authority in accordance with article 29(2)(b)(i) of those regulations.”, | ||
(b) in section 272— | ||
(i) in subsection (3)(c)— | ||
(I) in subparagraph (i) by deleting “or” after “1994,”, | ||
(II) in subparagraph (ii) by inserting “or” after “1994,”, and | ||
(III) by inserting the following after subparagraph (ii): | ||
“(iii) subject to subsection (8), 4 per cent of the expenditure referred to in subsection (2)(c), if the capital expenditure on the construction (within the meaning of section 270) of the building or structure is incurred on or after 4 December 2002,”, | ||
(ii) in subsection (4)(c)— | ||
(I) in subparagraph (i) by deleting “or” after “1994,”, | ||
(II) in subparagraph (ii) by inserting “or” after “1994,”, and | ||
(III) by inserting the following after subparagraph (ii): | ||
“(iii) subject to subsection (8), 25 years beginning with the time when the building or structure was first used, in the case where the capital expenditure on the construction (within the meaning of section 270) of the building or structure is incurred on or after 4 December 2002,”, | ||
and | ||
(iii) by inserting the following after subsection (7): | ||
“(8) Subsections (3)(c)(iii) and (4)(c)(iii) (as inserted by the Finance Act 2003) shall not apply as respects capital expenditure incurred on or before 31 December 2004 on the construction or refurbishment of a building or structure if— | ||
(a) (i) a planning application (not being an application for outline permission within the meaning of section 36 of the Planning and Development Act 2000 ) in respect of the building or structure is made in accordance with the Planning and Development Regulations 2001 to 2002, | ||
(ii) an acknowledgement of the application, which confirms that the application was received on or before 31 May 2003, is issued by the planning authority in accordance with article 26(2) of the Planning and Development Regulations 2001 ( S.I. No. 600 of 2001 ), and | ||
(iii) the application is not an invalid application in respect of which a notice is issued by the planning authority in accordance with article 26(5) of those regulations, | ||
(b) (i) a planning application in respect of the building or structure was made in accordance with the Local Government (Planning and Development) Regulations 1994 ( S.I. No. 86 of 1994 ), not being an application for outline permission within the meaning of article 3 of those regulations, | ||
(ii) an acknowledgement of the application, which confirms that the application was received on or before 10 March 2002, was issued by the planning authority in accordance with article 29(2)(a) of the regulations referred to in subparagraph (i), and | ||
(iii) the application was not an invalid application in respect of which a notice was issued by the planning authority in accordance with article 29(2)(b)(i) of those regulations, | ||
or | ||
(c) (i) the construction or refurbishment of the building or structure is a development in respect of which an application for a certificate under section 25 (7)(a)(ii) of the Dublin Docklands Development Authority Act 1997 is made to the Authority (within the meaning of that Act), | ||
(ii) an acknowledgement of the application, which confirms that the application was received on or before 31 May 2003, is issued by that Authority, and | ||
(iii) the application is not an invalid application.”, | ||
and | ||
(c) in section 274— | ||
(i) in subsection (1)(b)(iii)— | ||
(I) in clause (I) by deleting “or” after “1994,”, | ||
(II) in clause (II) by inserting “or” after “1994,”, and | ||
(III) by inserting the following after clause (II): | ||
“(III) subject to subsection (1A), 25 years after the building or structure was first used, in the case where the capital expenditure on the construction (within the meaning of section 270) of the building or structure is incurred on or after 4 December 2002,”, | ||
and | ||
(ii) by inserting the following after subsection (1): | ||
“(1A) Subsection (1)(b)(iii)(III) (as inserted by the Finance Act 2003) shall not apply as respects capital expenditure incurred on or before 31 December 2004 on the construction or refurbishment of a building or structure if— | ||
(a) (i) a planning application (not being an application for outline permission within the meaning of section 36 of the Planning and Development Act 2000 ) in respect of the building or structure is made in accordance with the Planning and Development Regulations 2001 to 2002, | ||
(ii) an acknowledgement of the application, which confirms that the application was received on or before 31 May 2003, is issued by the planning authority in accordance with article 26(2) of the Planning and Development Regulations 2001 ( S.I. No. 600 of 2001 ), and | ||
(iii) the application is not an invalid application in respect of which a notice is issued by the planning authority in accordance with article 26(5) of those regulations, | ||
(b) (i) a planning application in respect of the building or structure was made in accordance with the Local Government (Planning and Development) Regulations 1994 ( S.I. No. 86 of 1994 ), not being an application for outline permission within the meaning of article 3 of those regulations, | ||
(ii) an acknowledgement of the application, which confirms that the application was received on or before 10 March 2002, was issued by the planning authority in accordance with article 29(2)(a) of the regulations referred to in subparagraph (i), and | ||
(iii) the application was not an invalid application in respect of which a notice was issued by the planning authority in accordance with article 29(2)(b)(i) of those regulations, | ||
or | ||
(c) (i) the construction or refurbishment of the building or structure is a development in respect of which an application for a certificate under section 25 (7)(a)(ii) of the Dublin Docklands Development Authority Act 1997 is made to the Authority (within the meaning of that Act), | ||
(ii) an acknowledgement of the application, which confirms that the application was received on or before 31 May 2003, is issued by that Authority, and | ||
(iii) the application is not an invalid application.”. | ||
(2) (a) Subject to paragraph (b), subsection (1) applies as on and from 4 December 2002. | ||
(b) Paragraph (a)(ii)(II) of subsection (1) applies as on and from 1 January 2003. | ||