Finance Act 2024
|
Chapter 4 Income Tax, Corporation Tax and Capital Gains Tax | ||
|
Exemption in respect of CervicalCheck payments | ||
|
30. (1) The Principal Act is amended— | ||
(a) by the insertion of the following section after section 205B: | ||
“205C. (1) In this section— | ||
‘Act of 2019’ means the CervicalCheck Tribunal Act 2019 ; | ||
‘appropriate person’ has the same meaning as it has in section 2 of the Act of 2019; | ||
‘relevant payment’ means any of the following: | ||
(a) a payment made pursuant to the CervicalCheck non-disclosure ex gratia Scheme (that is to say the scheme administered, under that title, by the Minister for Health in furtherance of a decision of the Government of 11 March 2019); | ||
(b) a payment made pursuant to the Act of 2019; | ||
(c) a payment to an appropriate person in respect of compensation following the institution by or on behalf of a relevant woman of a civil action for damages in respect of personal injury, but excluding any compensation to an appropriate person other than a relevant woman, for mental distress resulting from the relevant woman’s death; | ||
‘relevant woman’ has the same meaning as it has in section 2 of the Act of 2019. | ||
(2) Income that— | ||
(a) consists of a relevant payment made to an appropriate person, or | ||
(b) arises to a relevant woman from the investment in whole or in part of a relevant payment or of the income derived from such a payment, being income consisting of dividends or other income which but for this section would be chargeable to tax under Schedule C or under Case III, IV (by virtue of section 59, 745 or 747E) or V of Schedule D or under Schedule F, | ||
shall be exempt from income tax and shall not be reckoned in computing total income for the purposes of the Income Tax Acts. | ||
(3) Gains that accrue to a relevant woman, from the disposal of— | ||
(a) assets acquired with a relevant payment, | ||
(b) assets acquired with income exempted from income tax under subsection (2)(b), or | ||
(c) assets acquired directly or indirectly with the proceeds from the disposal of assets referred to in paragraph (a) or (b), | ||
shall not be chargeable gains for the purposes of the Capital Gains Tax Acts. | ||
(4) For the purposes of computing whether by virtue of this section a gain is, in whole or in part, a chargeable gain, or whether income is, in whole or in part, exempt from income tax, all such apportionments shall be made as are, in the circumstances, just and reasonable. | ||
(5) (a) Notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made, where this section applies for any of the years of assessment 2008 to 2020 (both years inclusive) the appropriate person shall, on the making of a claim in that behalf, on or before 31 December 2025, be entitled to claim repayment of any amount in respect of income or gains to which this section applies. | ||
(b) Section 865(6) shall not prevent the Revenue Commissioners from repaying an amount of tax as a consequence of a claim made under this section where a valid claim for a repayment of tax (within the meaning of section 865(1)(b)) has been made.”, | ||
(b) in section 256(1), by the substitution of the following definition for the definition of “relevant amount”: | ||
“ ‘relevant amount’ means any amount of— | ||
(a) income referred to in section 205A(2), income that consists of a payment made to a relevant person (within the meaning of section 205B(1)) under section 32 (1)(a) of the Mother and Baby Institutions Payment Scheme Act 2023 or income referred to in section 205C(2)(b), and | ||
(b) gains referred to in section 205A(3), 205B(3) or 205C(3);”, | ||
(c) in section 267(3), by the substitution of “section 205A(2), 205B(2) or 205C(2)” for “section 205A(2) or section 205B(2)”, | ||
(d) in section 613(1)— | ||
(i) in paragraph (e), by the substitution of “applies;” for “applies.”, and | ||
(ii) by the insertion of the following paragraph after paragraph (e): | ||
“(f) any payment to which section 205C applies.”, | ||
(e) in section 730GA, by the substitution of “205A, 205B or 205C” for “205A or 205B”, and | ||
(f) in section 739G(2)(j), by the substitution of “205A, 205B or 205C” for “205A or 205B”. | ||
(2) The Capital Acquisitions Tax Consolidation Act 2003 is amended, in section 82(1), by the insertion of the following paragraph after paragraph (bb): | ||
“(bc) the receipt by a person of any payment made pursuant to the CervicalCheck non-disclosure ex-gratia Scheme (that is to say the scheme administered, under that title, by the Minister for Health in furtherance of a decision of the Government of 11 March 2019);”. | ||
(3) (a) Subsection (1) shall be deemed to have come into operation on 1 September 2008. | ||
(b) Subsection (2) shall be deemed to have come into operation on 11 March 2019. | ||
(c) Where a payment referred to in section 82 (1)(bc) of the Capital Acquisitions Tax Consolidation Act 2003 (inserted by subsection (2)) was made at any time in the year of assessment 2019 or 2020, subsection (3) of section 57 of that Act shall apply as if the reference in that subsection to the making of a valid claim within 4 years commencing on 31 December in the year in which that tax was due to be paid as provided for in paragraph (a) of that subsection were a reference to the making of a valid claim within 4 years commencing on 31 December 2021. |