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PART 3
AMENDMENT OF TAXES CONSOLIDATION ACT 1997
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Amendment of section 112A of Act of 1997.
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19.— Section 112A is amended—
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(a) by substituting the following subsection for subsection (1):
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“(1) In this section—
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(a) as respects so much of a payment that qualifies for relief under section 470, ‘ appropriate per centage ’, ‘ authorised insurer ’, ‘ relevant con tract ’ and ‘ relievable amount ’ have the same meanings, respectively, as in section 470,
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(b) as respects so much of a payment that qualifies for relief under section 470B, ‘ authorised insurer ’ and ‘ relevant contract ’ have the same meanings, respectively, as in section 470B,
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(c) ‘ employee ’ and ‘ employer ’ have the same meanings, respectively, as in section 983, and
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(d) ‘qualifying insurer’ and ‘qualifying long-term care policy ’ have the same meanings, respectively, as in section 470A.”,
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(b) by inserting the following subsection after subsection (2):
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“(2A) Where, for any relevant year of assessment, an employer makes a payment of emoluments to an employee consisting of a perquisite in the form of a payment to an authorised insurer under a relevant contract, and such payment qualifies for relief under section 470B for that relevant year of assessment, section 112 shall apply as if the perquisite were increased by the amount of the age-related tax credit or age-related tax credits, as the case may be, that the employee is entitled to under section 470B in respect of the payment.”, and
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(c) in subsection (3), by deleting “(within the meaning of section 983)”.
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