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Irish Income Tax 2023
Author: Tom Maguire
ISBN: 9781526526717
Buy Book in PrintPublication Date: 2023
Publisher: Bloomsbury Professional
Copyright: 2023 Bloomsbury Professional Ltd
Law As Stated At: 15 December 2022
Irish Income Tax 2023
“The Bible of Irish income tax …”, Irish Independent, 28 January 2018.
This tax essential, formerly known as Judge, is the leading income tax book for tax practitioners, accountants and tax lawyers. Indispensable in practice, it will help you to apply the relevant legislation with ease and precision.
It provides a complete analysis of the principles and practice of income tax in Ireland. It also provides an examination of recent key decisions by the courts both in Ireland and in the UK, as well as by the Tax Appeal Commissioners. This new edition is updated to Finance Act 2022.
Contents
- Preface
- Extract from Preface to the First Edition
- About the Authors
- Table of Cases
- Table of Statutes
- Close sectionPart Division 1: General Background
- Close sectionChapter 1.1: Statutory Framework
- Close sectionChapter 1.2: Administration of Taxes
- Close sectionChapter 1.3: Principles of Income Tax
- Close sectionChapter 1.4: Interpretation and Application of Tax Statute
- 1.401: General principles of interpretation
- 1.402: The statutory context
- 1.403: The wider fiscal context
- 1.404: The ‘mischief rule’
- 1.405: Interpretative presumptions
- 1.406: Strict construction
- 1.407: Form over substance
- 1.408: Extrinsic evidence and shams
- 1.409: Constitutional issues
- 1.410: The European context
- 1.411: Interpretation of double tax treaties
- 1.412: European Convention on Human Rights Act 2003
- Close sectionChapter 1.5: Residence and Territorial Limits
- Close sectionPart Division 2: Assessment and Collection of Tax
- Close sectionChapter 2.1: Self Assessment for Income Tax
- 2.101: Introduction
- 2.102: Self assessment: important definitions
- 2.103: Principal features of self assessment
- 2.104: Preliminary tax and overpayments of tax generally
- 2.105: Tax returns
- 2.106: Assessment of tax
- 2.107: Payment of tax charged in assessment
- 2.108: Amendment of assessment
- 2.109: Payment of tax charged in amended assessment
- 2.110: Surcharge and other penalties for late returns
- 2.111: Relief for error or mistake in tax return
- Close sectionChapter 2.2: Appeals against Assessments and Judicial Review
- Close sectionChapter 2.3: Collection of Tax at Source
- 2.301: Outline of collection at source procedure
- 2.302: Annual payments and royalties
- 2.303: Operation of TCA 1997, s 237
- 2.304: Operation of TCA 1997, s 238
- 2.305: Profits brought into charge to tax
- 2.306: Deduction of tax from interest paid
- 2.307: Payments to non-residents
- 2.308: Other payments covered by TCA 1997, s 238
- 2.309: Schedule C: public revenue dividends
- 2.310: Foreign dividends collected by Irish banks, etc
- 2.311: Payments to subcontractors under relevant contracts
- Close sectionChapter 2.4: Deposit Interest Retention Tax
- Close sectionChapter 2.5: Professional Services Withholding Tax
- Close sectionChapter 2.6: Third Party Returns and Revenue Powers
- 2.601: Introduction
- 2.602: Third party returns: general
- 2.603: Returns by persons carrying on trade, business, etc
- 2.604: Returns of interest paid or credited by banks, etc
- 2.605: Other information returns
- 2.606: Power to inspect books and accounts
- 2.607: Power to enter business premises
- 2.608: Power to obtain information from other persons
- 2.609: Return of property
- 2.610: Information from financial institutions
- 2.611: Quotation of tax reference number
- 2.612: Attachment of debts
- 2.613: Priority of tax in bankruptcy
- 2.614: Enforcement of foreign tax liabilities
- 2.615: Tax clearance certificates
- 2.616: Criminal investigations
- 2.617: Powers of collection, right of offset and power to demand security
- 2.618: Disclosure of certain tax avoidance transactions
- Close sectionChapter 2.7: Mandatory Automatic Exchange of Information in Relation to Reportable Cross-Border Arrangements (EU Mandatory Disclosure)
- 2.701: Introduction
- 2.702: Definitions
- 2.703: Interpretation and application
- 2.704: Duties of intermediary
- 2.705: Duties of relevant taxpayer
- 2.706: Duties of Revenue Commissioners
- 2.707: Exchange of information
- 2.708: Penalties
- 2.709: Specified arrangements
- 2.710: Division 2.7 Appendix I – Hallmarks
- 2.711: Division 2.7 Appendix II – Art 8ab of the Directive
- Close sectionChapter 2.8: Penalties and Back Duty Settlements
- Close sectionChapter 2.9: Mandatory Automatic Exchange of Information in the Field of Taxation in Relation to Platform Operators and Cooperation in the Field of Taxation in Relation to Presence Requests
- Close sectionChapter 2.1: Self Assessment for Income Tax
- Close sectionPart Division 3: Taxation of Individuals
- Close sectionChapter 3.1: Assessment
- 3.101: Introduction
- 3.102: Total income and taxable income
- 3.103: Deductions in arriving at total income
- 3.104: Allowances and reliefs: deductions in calculating taxable income
- 3.105: Computation of income tax chargeable on taxable income
- 3.106: Allowances and reliefs: tax credits
- 3.107: Other non-repayable credits
- 3.108: Tax on charges
- 3.109: Computation of self-employed PRSI and Universal Social Charge payable under self-assessment
- 3.110: Full credits: final computation of net tax payable or repayable
- 3.111: High Earners Restriction (HER) – limitation on specified reliefs for high income individuals
- Close sectionChapter 3.2: Interest Paid
- 3.201: Interest relief: general
- 3.202: Interest on qualifying residence loans
- 3.203: Restrictions on mortgage interest relief
- 3.204: Bridging loan relief
- 3.205: Preferential and other loans from employer
- 3.206: Loans to acquire certain shares, etc (abolished from 2014 onwards)
- 3.207: Alternative conditions for share loans
- 3.208: Loans to invest in partnerships
- 3.209: Recovery of capital
- 3.210: General restriction on interest relief
- Close sectionChapter 3.3: Personal Allowances and Reliefs
- 3.301: Introduction
- 3.302: Basic personal tax credits
- 3.303: Blind person’s tax credit
- 3.304: Single person child carer credit (formerly the one-parent family credit)
- 3.305: Widowed parent or surviving civil partner tax credit
- 3.306: Age credit
- 3.307: Incapacitated child credit
- 3.308: Dependent relative tax credit
- 3.309: Employed person taking care of incapacitated individual
- 3.310: Employee tax credit
- 3.311: Home carer’s credit
- 3.312: Seafarer’s allowance
- 3.313: Credit for rent paid
- 3.314: Medical insurance
- 3.315: Health expenses
- 3.316: Blind persons – trained guide dog
- 3.317: Permanent health benefit contributions
- 3.318: Relief for college fees
- 3.319: Relief for training course fees
- 3.320: Relief for service charges (abolished from 2011)
- 3.321: Relief for the long-term unemployed
- 3.322: Age income exemption
- 3.323: Long-term care policies (abolished from 2010)
- 3.324: Age-related credit for health insurance premiums
- 3.325: Expenditure to improve energy efficiency of residential premises
- 3.326: Home Renovation Incentive (HRI)
- 3.327: Start Your Own Business (SYOB)
- 3.328: Compensation for certain living kidney donors
- 3.329: Earned income tax credit
- 3.330: Fisher tax credit
- 3.331: ‘Help to buy’ scheme
- 3.332: Sea-going naval personnel credit
- Close sectionChapter 3.4: Self-Employed PRSI, Universal Social Charge and Domicile Levy
- Close sectionChapter 3.5: Taxation of Married Couples
- 3.501: Taxation of married persons: general
- 3.502: Married persons: joint assessment
- 3.503: Assessment as single persons
- 3.504: Claim for separate assessment
- 3.505: Married persons: year of marriage
- 3.506: Married persons: year of death
- 3.507: Separation: maintenance agreements
- 3.508: Separated spouses: election for joint assessment
- 3.509: Divorced couples
- 3.510: Increased rate band for jointly assessable individuals with dual income
- 3.511: Payments under Part 2 of the Civil Law (Miscellaneous Provisions) Act 2022
- Close sectionChapter 3.6: Tax Computation
- 3.601: Introduction
- 3.602: Single person assessment
- 3.603: Widowed person’s assessment
- 3.604: Married person’s joint assessment
- 3.605: Joint assessment: election for separate assessments
- 3.606: Year of marriage or registration of civil partnership
- 3.607: Married persons and civil partners: year of death
- 3.608: Separated spouses or civil partners: maintenance arrangements
- 3.609: Separated spouses or civil partners: joint assessment election
- Close sectionChapter 3.1: Assessment
- Close sectionPart Division 4: Trades and Professions: Basis of Assessment
- Close sectionChapter 4.1: Introduction
- Close sectionChapter 4.2: Trading Profits
- Close sectionChapter 4.3: Relief for Capital Expenditure
- Close sectionChapter 4.4: Relief for Trading Losses
- 4.401: Loss relief: introduction
- 4.402: Carry forward of trading losses
- 4.403: Carry forward of capital allowances
- 4.404: Loss set off against income from all sources
- 4.405: Capital allowances in a s 381 claim
- 4.406: Restrictions on s 381 losses
- 4.407: Calculation of tax payable where s 381 relief is claimed
- 4.408: Loss relief for certain charges on income
- 4.409: Losses in opening years
- 4.410: Losses prior to cessation of trade
- 4.411: Losses forward from dealing in residential land
- 4.412: Restriction of loss relief in land dealing or developing trades
- 4.413: Restriction of loss relief – FA 2014 anti-avoidance measures
- 4.414: Passive trades
- 4.415: Anti-avoidance
- Close sectionChapter 4.5: Partnerships
- 4.501: General
- 4.502: The partnership trade
- 4.503: How partners are taxed
- 4.504: Appropriations of profit
- 4.505: Partnership capital allowances
- 4.506: Allocation of firm’s capital allowances and charges
- 4.507: Partnership losses
- 4.508: Partnership returns
- 4.509: Unexhausted profits
- 4.510: Other income and charges on income
- 4.511: Partnerships involving companies
- 4.512: Limited partnerships: restriction of reliefs
- Close sectionPart Division 5: Trades and Professions: Calculation of Profits
- Close sectionChapter 5.1: Profits Taxable
- Close sectionChapter 5.2: Trading Receipts
- 5.201: When are receipts taxable?
- 5.202: Income and capital receipts distinguished
- 5.203: Circulating v fixed capital
- 5.204: Agency agreements
- 5.205: Intellectual property
- 5.206: Insurance and compensation proceeds
- 5.207: Grants and subsidies
- 5.208: Voluntary payments
- 5.209: Exclusivity payments
- 5.210: Interest income as a trading receipt
- 5.211: Transfer pricing
- 5.212: Interpretation
- 5.213: Basic rules
- 5.214: Distributions
- 5.215: OECD Guidelines
- 5.216: Modification of basic rules on transfer pricing for arrangements between qualifying persons
- 5.217: Small or medium enterprises
- 5.218: Elimination of double counting
- 5.219: Interaction with capital allowances provisions
- 5.220: Attribution of profits to a branch
- Close sectionChapter 5.3: Deductions
- 5.301: What expenses are deductible?
- 5.302: When are expenses deductible?
- 5.303: Expense or loss?
- 5.304: The purposes of the trade
- 5.305: The ‘wholly and exclusively’ test: general principles
- 5.306: The ‘wholly and exclusively’ test: particular expenses
- 5.307: Capital or revenue expenditure?
- 5.308: Deductions permitted by statute, concessions etc
- 5.309: Repairs, renewals etc
- 5.310: Leasing and rental charges etc
- 5.311: Assets acquired by hire purchase
- 5.312: Restriction of motor expenses deduction
- 5.313: Business entertainment expenses
- 5.314: Bad debts
- 5.315: Interest payable
- 5.316: Annual payments, royalties etc
- 5.317: Relief on retirement for certain sportspersons
- Close sectionChapter 5.4: Stock in Trade and WIP
- Close sectionChapter 5.5: Other Matters
- Close sectionChapter 5.6: Commencements, Cessations and Post-Cessation Receipts
- 5.601: Calculation of profits on commencement
- 5.602: Trading stock on commencement
- 5.603: Trading stock on cessation
- 5.604: Work in progress: cessation of profession
- 5.605: Post-cessation receipts
- 5.606: Liabilities released after cessation
- 5.607: Deductions from post-cessation receipts
- 5.608: Receipts after change of ownership
- Close sectionChapter 5.7: Writers, Composers and Artists (‘Artists Exemption’) and Musical Instrument Exemption
- Close sectionPart Division 6: Capital Allowances
- Close sectionChapter 6.1: Principles and Definitions
- 6.101: Introduction
- 6.102: Fundamentals
- 6.103: Capital expenditure
- 6.104: Sale, insurance, salvage or compensation
- 6.105: Non-arm’s length transactions
- 6.106: Effect of certain successions to trade
- 6.107: Manner of granting capital allowances and making charges
- 6.108: Restrictions on carry forward of unused capital allowances
- 6.109: Order of set off for capital allowances forward
- 6.110: Claims for capital allowances
- Close sectionChapter 6.2: Machinery or Plant
- 6.201: Capital allowances available
- 6.202: What constitutes machinery or plant?
- 6.203: Wear and tear allowances
- 6.204: Notional wear and tear allowances
- 6.205: Balancing allowances and balancing charges
- 6.206: Balancing adjustments: cessation of trade, gifts etc
- 6.207: Balancing adjustments: notional allowances
- 6.208: Treatment of capital grants
- 6.209: Rollover of balancing charges on replacement
- 6.210: Successive balancing adjustments
- 6.211: Plant used partly for non-trading purposes
- 6.212: Restriction of capital allowances on private cars
- Close sectionChapter 6.3: Leased Machinery or Plant
- Close sectionChapter 6.4: Industrial Buildings and Structures
- 6.401: What buildings qualify?
- 6.402: General scheme of industrial buildings allowances
- 6.403: Meaning of ‘relevant interest’
- 6.404: Qualifying expenditure
- 6.405: Initial allowances
- 6.406: Writing-down allowances
- 6.407: Increased writing-down allowances (‘free depreciation’)
- 6.408: Buildings purchased unused
- 6.409: Balancing allowances and balancing charges
- 6.410: Capital allowances after sale of building
- 6.411: Deduction of notional allowances
- 6.412: Sale of building constructed at different dates
- Close sectionChapter 6.5: Leased Industrial Buildings
- 6.501: Introduction
- 6.502: Initial allowance
- 6.503: Writing-down allowances
- 6.504: Balancing allowances and balancing charges
- 6.505: Manner of granting allowances to lessors
- 6.506: Schedule D Case V losses and industrial buildings allowances
- 6.507: Schedule D Case IV lessors
- 6.508: Foreign leased industrial buildings
- 6.509: Restrictions on offsets against Sch D Case V income and total income
- Close sectionChapter 6.6: Miscellaneous Capital Allowances
- Close sectionChapter 6.7: Capital Allowances for Patent Rights
- Close sectionChapter 6.8: Allowances for Certain Energy-Efficient Equipment
- Close sectionChapter 6.9: Allowances for Childcare and Fitness Centre Equipment
- Close sectionChapter 6.10: Allowances for Gas Vehicles and Refuelling Equipment
- Close sectionChapter 6.11: Acceleration of Wear and Tear Allowances for Farm Safety Equipment
- Close sectionChapter 6.1: Principles and Definitions
- Close sectionPart Division 7: Farming and Other Income from Land
- Close sectionChapter 7.1: Farming under Sch D Case I
- 7.101: Taxation of profits from farming
- 7.102: The charge to tax: general principles
- 7.103: Computation of farming profits
- 7.104: Farm records, accounts and tax forms
- 7.105: Valuation of farm trading stock
- 7.106: Stock relief
- 7.107: Special stock relief for ‘young trained farmers’
- 7.108: Compulsory disposal of livestock
- 7.109: Election to average farming profits
- 7.110: Opting out of income averaging
- 7.111: Restructuring aid for sugar beet growers
- 7.112: Succession farm partnerships
- Close sectionChapter 7.2: Farming: Capital Allowances and Losses
- 7.201: Introduction
- 7.202: Capital allowances: farm buildings and works
- 7.203: Capital allowances: farm machinery and plant
- 7.204: Capital allowances: milk quotas
- 7.205: Relief for farming losses
- 7.206: Losses: non-commercial farming and market gardening
- 7.207: Accelerated allowances for capital expenditure on slurry storage
- Close sectionChapter 7.3: Bloodstock
- Close sectionChapter 7.4: Woodlands
- Close sectionChapter 7.5: Farm Land Leasing Income
- Close sectionChapter 7.6: Income Tax Treatment of Animal Leasing
- Close sectionChapter 7.1: Farming under Sch D Case I
- Close sectionPart Division 8: Schedule D: Cases III and IV: Income from Patents; Investment Products
- Close sectionChapter 8.1: Schedule D Case III
- Close sectionChapter 8.2: Schedule D Case IV
- 8.201: The income charged
- 8.202: Other gains chargeable under Sch D Case IV
- 8.203: Individuals: treatment of taxed income
- 8.204: Deposit interest subject to retention tax
- 8.205: Basis of assessment and Sch D Case IV losses
- 8.206: Leasing of machinery or plant
- 8.207: Copyright royalties
- 8.208: Anti-avoidance measures
- 8.209: Sales of government securities etc ‘cum div’ (bond washing)
- 8.210: Transactions associated with loans
- 8.211: Payment notices – anti-avoidance
- 8.212: Tax avoidance surcharge
- 8.213: Gains from illegal or unknown sources
- 8.214: Certain payments to holders of sea-fishing boat licences
- Close sectionChapter 8.3: Income from Patents
- Close sectionChapter 8.4: Investment Products
- Close sectionPart Division 9: Schedule F: Distributions from Companies
- Close sectionChapter 9.1: Introduction
- 9.101: Income chargeable under Sch F
- 9.102: Dividend withholding tax – general outline
- 9.103: Definitions
- 9.104: Dividend withholding tax
- 9.105: Excluded persons
- 9.106: Exemption for certain non-residents
- 9.107: Authorised withholding agent
- 9.108: Qualifying intermediary
- 9.109: Statement to be given to recipients of relevant distributions
- 9.110: Credits or repayments – dividend withholding tax
- 9.111: Returns, payment and collection of dividend withholding tax
- 9.112: Delegation of powers of Revenue Commissioners
- 9.113: Obligation on certain persons to obtain tax reference numbers of persons beneficially entitled to relevant distributions
- 9.114: Distributions out of tax exempt income
- Close sectionChapter 9.1: Introduction
- Close sectionPart Division 10: Schedule E: Income from Offices and Employments and Covid Related Reliefs
- Close sectionChapter 10.1: Principles of Schedule E
- 10.101: Income chargeable
- 10.102: Basis of assessment
- 10.103: The meaning of an office or employment
- 10.104: Emoluments from office or employment
- 10.105: Perquisites taxable whether money or money’s worth
- 10.106: The source of emoluments
- 10.107: Voluntary payments
- 10.108: Pre-commencement or post-cessation payments
- 10.109: Payments on commencement of employment
- 10.110: Payments by third parties
- 10.111: Payments for loss of office and other compensation payments
- 10.112: Pensions and sickness benefits
- 10.113: Shares and share options
- 10.114: Restrictive covenants
- 10.115: Relief for non-remitted earnings
- 10.116: Special Assignment Relief Programme
- 10.117: Granting of vouchers
- Close sectionChapter 10.2: Expenses Payments, Benefits in Kind etc
- 10.201: Persons chargeable
- 10.202: Expenses payments
- 10.203: Benefits in kind
- 10.204: Benefits in kind not subject to tax
- 10.205: Valuation of benefits in kind: general rules
- 10.206: Living accommodation
- 10.207: Motor cars
- 10.208: Calculation of taxable motor car benefit
- 10.209: Years of assessment prior to 2023
- 10.210: Year of assessment 2023 and subsequent years
- 10.211: Parking levy
- 10.212: Motor vans and bicycles
- 10.213: Loans to employees and directors
- 10.214: Educational trusts
- 10.215: Returns
- Close sectionChapter 10.3: Expenses and Other Deductions
- 10.301: Introduction
- 10.302: Expenses wholly, exclusively and necessarily incurred
- 10.303: Travelling expenses
- 10.304: Business entertainment expenses
- 10.305: Capital allowances
- 10.306: Foreign earnings deduction
- 10.307: Relief on retirement for earnings of designated sportspersons
- 10.308: Deduction in respect of certain expenses of remote working
- Close sectionChapter 10.4: Termination Payments
- 10.401: Payments chargeable under TCA 1997, s 123
- 10.402: The basic exemption
- 10.403: Standard capital superannuation benefit
- 10.404: Top Slicing Relief in respect of payments made prior to 1 January 2014
- 10.405: Relief where connected payments
- 10.406: Effect of foreign service
- 10.407: Compensation for business reorganisation, pay restructuring etc
- 10.408: Returns by employer
- 10.409: Damages
- Close sectionChapter 10.5: Covid-19 Measures
- 10.501: Introductory note
- 10.502: Temporary Wage Subsidy Scheme (TWSS)
- 10.503: Covid Restrictions Support Scheme (CRSS)
- 10.504: Employee Wage Subsidy Scheme (EWSS)
- 10.505: Special ‘warehousing’ provisions
- Income tax
- Interest charge on relevant person under TCA 1997 s 1080B
- Relevant tax under Employment Wage Subsidy scheme
- 10.506: Stay and spend tax credit – ‘staycation’ credit
- 10.507: ‘Carry back’ of certain capital allowances to previous years
- 10.508: Right to carry-back losses sustained between 1 January 2020 and 31 December 2020
- 10.509: Farming profits
- 10.510: The statutory residence test – force majeure in the context of Covid-19
- 10.511: Miscellaneous income tax and employment issues
- 10.512: Business Resumption Support Scheme (BRSS)
- Close sectionChapter 10.6: Temporary Business Energy Support Scheme (TBESS)
- 10.601: Introduction
- 10.602: Objectives and purposes of the TBESS
- 10.603: The TBESS relief
- 10.604: The relief
- 10.605: Time limits on claims
- 10.606: Restrictions on, and as a result of, a TBESS claim
- 10.607: Partnerships
- 10.608: Revenue offences and other matters
- 10.609: Books and records
- 10.610: Revenue guidance
- Close sectionChapter 10.1: Principles of Schedule E
- Close sectionPart Division 11: PAYE, PRSI and Profit Sharing Schemes
- Close sectionChapter 11.1: Paye
- 11.101: Emoluments subject to PAYE
- 11.102: Excluded emoluments and foreign aspects
- 11.103: PAYE in brief and PAYE modernisation
- 11.104: PAYE modernisation and tax years 2019 et seq
- 11.105: Emoluments of different years and unpaid remuneration
- 11.106: PAYE and termination payments
- 11.107: Employee’s position at year end
- 11.108: Recovery of underpaid tax and shareholders’ emoluments
- 11.109: Revenue powers
- 11.110: Payment without deduction of PAYE
- 11.111: Relief arising in special circumstances (week 53)
- 11.112: Rent Tax credit
- Close sectionChapter 11.2: PRSI
- Close sectionChapter 11.3: Employees’ Share Purchase Scheme
- Close sectionChapter 11.4: Approved Profit Sharing Schemes
- 11.401: Introduction
- 11.402: Approval by Revenue Commissioners
- 11.403: Individuals ineligible to participate
- 11.404: Conditions as to shares
- 11.405: Requirements as to trust deed
- 11.406: The individual’s tax exemption
- 11.407: Definitions relevant to taxable events
- 11.408: Disposals of scheme shares before release date but after the retention period
- 11.409: Disposal of participant’s beneficial interest
- 11.410: Transfer of ownership to participant
- 11.411: Capital receipts before release date
- 11.412: Company reconstructions etc
- 11.413: Excess and unauthorised shares
- 11.414: Trustees’ tax position
- 11.415: Revenue powers and withdrawal of approval
- 11.416: Appeals
- Close sectionChapter 11.5: Employee Share Ownership Trusts
- Close sectionChapter 11.6: Save As You Earn (SAYE) Schemes
- 11.601: Introduction
- 11.602: Approval by Revenue Commissioners
- 11.603: Individuals eligible to participate
- 11.604: Conditions as to the shares
- 11.605: Exchange provisions, reconstructions etc
- 11.606: Exercise of rights
- 11.607: Acquisitions of shares, share price, options etc
- 11.608: Certified contractual savings schemes
- Close sectionChapter 11.7: Revenue Approved Share Option Schemes
- Close sectionChapter 11.1: Paye
- Close sectionPart Division 12: Immovable Property
- Close sectionChapter 12.1: Schedule D Case V
- 12.101: Introduction
- 12.102: The income charged
- 12.103: Basis of assessment
- 12.104: Computation of income
- 12.105: Controlled rents
- 12.106: Relief for Sch D Case V losses
- 12.107: Excluded lettings/uneconomic lettings
- 12.108: Apportionments on sale of premises
- 12.109: Returns by letting agents, managers of premises and certain public bodies
- 12.110: Deduction for capital expenditure on student accommodation/qualifying residential accommodation
- 12.111: Receiverships and rental income
- 12.112: Tracker mortgage redress payments/repair and leasing scheme
- Close sectionChapter 12.2: Premiums on Leases etc
- 12.201: Premiums treated as rent
- 12.202: Amounts deemed to be premium
- 12.203: Premiums to persons other than the lessor
- 12.204: Reverse premiums
- 12.205: Assignment of lease granted at undervalue
- 12.206: Sale of land with right to reconveyance or lease
- 12.207: Successive taxable events (TCA 1997, ss 98–100)
- 12.208: Deduction for premiums etc: Sch D Cases I and II
- 12.209: Deduction for premiums etc: Sch D Case V
- 12.210: Duration of lease
- Close sectionChapter 12.3: Profits from Dealing in or Developing Land
- 12.301: Introduction
- 12.302: Historical background
- 12.303: Definitions
- 12.304: ‘Connected persons’ and ‘control’
- 12.305: Extension of Sch D Case I to certain activities
- 12.306: Disposals of land in course of winding up
- 12.307: Computation of taxable profits: Sch D Case I
- 12.308: Prevention of artificial deductions
- 12.309: Postponement of tax: certain leasebacks
- 12.310: Gains of a capital nature
- 12.311: Conditions for application
- 12.312: Exceptions
- 12.313: How the tax is charged
- 12.314: Non-residents
- 12.315: Miscellaneous points
- 12.316: Flat rate tax on profits from dealing in residential land
- 12.317: Windfall tax
- 12.318: Taxation of release of debts in land dealing or developing land trades
- 12.319: Restriction of loss relief
- Close sectionChapter 12.4: Mining Rents and Other Matters
- Close sectionChapter 12.5: Miscellaneous Home (Non-Income Tax) Levies
- Close sectionChapter 12.1: Schedule D Case V
- Close sectionPart Division 13: Foreign Aspects
- Close sectionChapter 13.1: Foreign Possessions and Securities
- 13.101: Introduction
- 13.102: Foreign income charged under Sch D Case III
- 13.103: Foreign trades and professions
- 13.104: Foreign offices and employments
- 13.105: Foreign benefits in kind
- 13.106: Foreign pensions
- Treatment of lump sums
- 13.107: Distributions from non-resident companies
- 13.108: Other types of foreign income
- Close sectionChapter 13.2: Computation of Foreign Income
- Close sectionChapter 13.3: Foreign Currency Translation
- Close sectionChapter 13.4: Foreign Income: Remittance Basis
- Close sectionChapter 13.5: Miscellaneous Foreign Matters
- Close sectionChapter 13.6: Taxation of Non-Residents
- 13.601: General
- 13.602: Trades exercised within the State
- 13.603: Assessment of non-residents
- 13.604: Computation of non-residents’ trading income
- 13.605: Non-residents and partnership trades
- 13.606: Continental shelf activities
- 13.607: Offices and employments of non-residents
- 13.608: Distributions from resident companies
- 13.609: Other sources of income within the State
- 13.610: Rates of tax, personal tax credits etc
- Close sectionChapter 13.1: Foreign Possessions and Securities
- Close sectionPart Division 14: Double Taxation Relief
- Close sectionChapter 14.1: Double Taxation Agreements: General
- 14.101: Introduction
- 14.102: Legal status of agreements
- 14.103: OECD Model Double Taxation Convention
- 14.104: ‘Scope’ of agreements and ‘taxes covered’
- 14.105: ‘Resident of’ contracting state defined
- 14.106: Other definitions
- 14.107: Elimination of double taxation
- 14.108: Interaction with anti-avoidance provisions
- Close sectionChapter 14.2: Articles in Double Taxation Agreements
- 14.201: Business profits: permanent establishment
- 14.202: Business profits: amount taxable
- 14.203: Shipping and air transport
- 14.204: Associated enterprises
- 14.205: Dividends, interest and royalties: general
- 14.206: Dividends: specific points
- 14.207: Interest and royalties: specific points
- 14.208: Income from immovable property
- 14.209: Professional services (‘independent personal services’)
- 14.210: Income from employments
- 14.211: Directors’ fees
- 14.212: Governmental functions
- 14.213: Pensions
- 14.214: Artistes, athletes, entertainers etc
- 14.215: Professors, teachers and researchers
- 14.216: Students and apprentices
- 14.217: Income not expressly mentioned (‘other income’)
- 14.218: Limitation of treaty relief
- 14.219: Non-discrimination
- 14.220: Allowances for non-residents
- 14.221: Mutual agreement procedure
- 14.222: Exchange of information
- 14.223: Anti-avoidance
- Close sectionChapter 14.3: Credits for Foreign Tax
- 14.301: General
- 14.302: Principles of computation
- 14.303: Foreign taxes available for credit
- 14.304: ‘Same profits’ subject to double taxation for credit relief purposes
- 14.305: Effective rate of foreign tax
- 14.306: Effective rate of Irish tax
- 14.307: Final income tax computation
- 14.308: Foreign tax credit against the USC
- 14.309: Double taxation relief: trustees and other persons
- 14.310: Portfolio investments
- 14.311: Effective foreign rate
- 14.312: Excess relief
- Close sectionChapter 14.1: Double Taxation Agreements: General
- Close sectionPart Division 15: Estates and Settlement
- Close sectionChapter 15.1: Estates of Deceased Persons
- 15.101: Introduction
- 15.102: Allocation of income on death
- 15.103: Taxation of deceased to date of death
- 15.104: Assessments on income of deceased person
- 15.105: Taxation of executors etc in administration period
- 15.106: Meaning of administration period
- 15.107: Relief for interest paid by executors
- 15.108: Effect of death on trade; post cessation receipts etc
- Close sectionChapter 15.2: Beneficiaries of Deceased Person’s Estate
- Close sectionChapter 15.3: Trustees, Settlements and Their Beneficiaries
- 15.301: General
- 15.302: Liability of trustees
- 15.303: Basis of assessment on trustees
- 15.304: Taxation of beneficiaries
- 15.305: Trustees’ expenses and the beneficiaries
- 15.306: Trust distributions: capital or income?
- 15.307: Accumulated income
- 15.308: Surcharge on trust income
- 15.309: Assessment of surcharge
- 15.310: Surcharge: miscellaneous points
- 15.311: Exempt trusts
- Close sectionChapter 15.4: Anti-Avoidance
- 15.401: General
- 15.402: Meaning of ‘settlement’ and ‘settlor’
- 15.403: Income subject to power of revocation
- 15.404: Income under dispositions for short periods
- 15.405: Restriction on covenanted payments
- 15.406: Settlements on minors
- 15.407: Income accumulated for minors under irrevocable instruments
- 15.408: Basis of assessment on settlor
- 15.409: Transfer of interest in trade to children
- 15.410: Recovery of tax from trustees
- Close sectionChapter 15.1: Estates of Deceased Persons
- Close sectionPart Division 16: Retirement Plans
- Close sectionChapter 16.1: Overview and Occupational Pension Schemes
- 16.101: Introduction
- 16.102: Approved pension schemes: general principles
- 16.103: Definitions
- 16.104: Unapproved schemes
- 16.105: Approval of pension schemes
- 16.106: Conditions for approval
- 16.107: Revenue Commissioners’ discretionary powers
- 16.108: Tax relief for pension scheme contributions
- 16.109: Taxation of pension scheme refunds
- 16.110: Taxation of pension scheme benefits
- 16.111: Tax exemption of pension scheme funds
- 16.112: Non-resident employers’ schemes
- 16.113: Statutory schemes
- 16.114: Pre-retirement access to AVCs
- Close sectionChapter 16.2: Retirement Annuities
- 16.201: Introduction
- 16.202: Who may claim relief?
- 16.203: Qualifying premiums
- 16.204: Conditions for approval
- 16.205: Trust schemes
- 16.206: Manner of granting and limits to relief
- 16.207: Carry forward of excess premiums
- 16.208: Meaning of ‘net relevant earnings’
- 16.209: Claim for relief
- 16.210: Taxation of retirement plan benefits
- Close sectionChapter 16.3: Personal Retirement Savings Accounts (PRSAs)
- Close sectionChapter 16.4: Taxation of Additional Retirement Options Introduced in FA 1999, s 19
- Close sectionChapter 16.5: Limit on Tax-Relieved Pension Funds
- Close sectionChapter 16.6: Overseas Pension Plans: Migrant Member Relief
- Close sectionChapter 16.7: Purchased Life Annuities
- Close sectionChapter 16.8: Pan-European Personal Pension Product (PEPP)
- Close sectionChapter 16.1: Overview and Occupational Pension Schemes
- Close sectionPart Division 17: Anti-Avoidance
- Close sectionChapter 17.1: Transactions in Securities etc
- Close sectionChapter 17.2: Transfer of Assets Abroad
- 17.201: Introduction
- 17.202: Transfers of assets and chargeable individuals
- 17.203: Associated operations
- 17.204: Income becoming payable to a ‘foreign person’
- 17.205: Liability if ‘power to enjoy’ income
- 17.206: Liability if ‘capital sum’ receivable
- 17.207: Exceptions to TCA 1997, s 806
- 17.208: Assessment and computation of income
- 17.209: Double tax treaties and treatment of foreign taxes
- 17.210: Extension of charge to non-transferors
- 17.211: Exclusion of certain exemptions
- 17.212: Administrative provisions
- Close sectionChapter 17.3: General Anti-Avoidance
- 17.301: Introduction
- 17.302: General measure to counter tax avoidance transactions
- 17.303: New general anti-avoidance provision
- 17.304: Sch F avoidance schemes
- 17.305: Anti-avoidance: annuity schemes
- 17.306: Anti-avoidance: restrictions of relief for payments for interest
- 17.307: Employee benefit schemes
- Close sectionChapter 17.4: Offshore Funds
- Close sectionPart Division 18: Exemptions and Reliefs
- Close sectionChapter 18.1: Employment and Investment Incentive and Seed Capital Scheme
- 18.101: The main features
- 18.102: Qualifying company
- 18.103: Relevant trading activities
- 18.104: RICT group
- 18.105: Qualifying subsidiaries
- 18.106: Qualifying investment
- 18.107: Employment Investment Incentive (EII)
- 18.108: Start-Up Capital Incentive (SCI)
- 18.109: Start-up Relief for Entrepreneurs (SURE)
- 18.110: Carry forward of reliefs
- 18.111: Statements of qualification
- 18.112: Reporting requirements
- 18.113: Claiming of relief by qualifying investors
- 18.114: Investment funds
- 18.115: Anti-avoidance and clawback events
- Value received by persons other than qualifying investors
- 18.116: Withdrawing relief
- 18.117: Miscellaneous matters
- 18.118: Covid-19 related matters
- Close sectionChapter 18.2: Exemptions for Charities, Sports Bodies etc
- 18.201: Introduction
- 18.202: Meaning of ‘charity’ and ‘charitable purposes’
- 18.203: Exemptions for charities
- 18.204: Trading by charities
- 18.205: Charitable purposes only
- 18.206: Exemption of certain sports bodies
- 18.207: Human rights organisations
- 18.208: Friendly societies and trade unions
- 18.209: Agricultural societies: exhibitions and shows
- 18.210: Special trusts for permanently incapacitated individuals
- 18.211: Periodic payments for personal injuries
- Close sectionChapter 18.3: Miscellaneous Reliefs
- 18.301: Expenditure on certain significant buildings
- 18.302: Gifts for public purposes
- 18.303: Reliefs for gifts of heritage items
- 18.304: Donations to approved bodies
- 18.305: Donations to approved sports bodies for approved projects
- 18.306: Exemption in respect of water conservation grant
- 18.307: Exemption in respect of Pandemic Placement Grant
- 18.308: Certain profits of micro-generation of electricity
- 18.309: Exemption in respect of incorrect birth registration payment
- 18.310: Exemption in respect of payments under Covid-19 Death in Service Ex-Gratia Scheme for Health Care Workers
- 18.311: Exemption in respect of electricity costs emergency benefit payment
- 18.312: Exemption of payments in relation to Ex-Gratia Scheme for Community Employment Scheme Supervisors and Assistant Supervisors
- Close sectionChapter 18.4: Relief for Investment in Films
- Close sectionChapter 18.5: Mid-Shannon Tourism Infrastructure Pilot Scheme
- Close sectionChapter 18.6: Living City Initiative
- Close sectionChapter 18.7: Property Tax Incentives
- Close sectionChapter 18.1: Employment and Investment Incentive and Seed Capital Scheme
- Index