Finance Act, 1991
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Application of section 23 (deduction for certain expenditure on construction of rented residential accommodation) of Finance Act, 1981. |
56.—(1) As respects relevant expenditure to which this section applies, section 23 of the Finance Act, 1981 , shall have effect— | |
(a) as if for the definition of “qualifying period” (as provided for by section 27 of the Finance Act, 1988 ) in subsection (1) (a), there were substituted— | ||
(i) where relevant expenditure is incurred in the designated area known as the Custom House Docks Area (as provided for by section 41 of the Finance Act, 1986 ), the following definition: | ||
“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the last day of the specified period (being the specified period within the meaning of section 41 of the Finance Act, 1986 );”, | ||
(ii) where relevant expenditure is incurred in any other designated area (as so provided for and subject to section 27 of the Finance Act, 1987 ), the following definition: | ||
“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the 31st day of May, 1993;”, | ||
(iii) where relevant expenditure is incurred in the area known as the Temple Bar Area, the following definition: | ||
“‘qualifying period’ means the period commencing on the 30th day of January, 1991, and ending on the 5th day of April, 1996;”, or | ||
(iv) where relevant expenditure is incurred in any other area, the following definition: | ||
“‘qualifying period’ means the period commencing on the 1st day of April, 1991, and ending on the 31st day of March, 1992;”, | ||
(b) as if in the definition of “qualifying premises” in the said subsection (1) (a) “90 square metres” were substituted for “75 square metres”, and | ||
(c) where relevant expenditure is incurred in any area to which subparagraph (i), (ii) or (iii) of paragraph (a) of subsection (1) relates, as if section 30 of the Finance Act, 1983 , were deleted. | ||
(2) In this section “relevant expenditure” means expenditure on the construction of a qualifying premises (being a qualifying premises within the meaning of subsection (1) (a) of section 23 of the Finance Act, 1981 ) incurred in the qualifying period (being the qualifying period within the meaning of subsection (1) (a) of the said section 23, subject to the provisions of subsection (1) (a) of this section): | ||
Provided that expenditure to which section 24 of the Finance Act, 1981 , applies which is incurred in the Temple Bar Area shall be construed as expenditure on refurbishment (being refurbishment within the meaning of paragraph (a) of section 55 (2)) in the course of the conversion into two or more houses of a building which, prior to the conversion, had not been in use as a dwelling or had been in use as a single dwelling. |