Finance Act, 1959

Supplementary provisions for Part IV .

23.—(1) Any question whether an annuity is a purchased life annuity to which section 22 of this Act applies, or what is the capital element in such an annuity, shall be determined by the inspector of taxes, but any person aggrieved by any decision of the said inspector on any such question may appeal within the prescribed time to the Special Commissioners.

(2) Save as otherwise provided in this Part of this Act, the procedure to be adopted in giving effect thereto shall be such as may be prescribed.

(3) The Revenue Commissioners may make regulations for prescribing anything which is to be prescribed under this Part of this Act; and the regulations may apply for the purposes of this Part of this Act or of the regulations any provision of the Income Tax Acts (with or without modifications), and in particular the provisions relating to the rehearing of an appeal and the statement of a case for the opinion of the High Court on a point of law.

(4) Regulations under subsection (3) of this section may in particular make provision as to the time limit for making any claim for relief from or repayment of tax under this Part of this Act and as to all or any of the following matters:

(a) the information to be given in connection with the determination of any question whether an annuity is a purchased life annuity to which section 22 of this Act applies, or what is the capital element in an annuity, and the persons who may be required to give any such information;

(b) the manner of giving effect to the decision on any such question, and the making of assessments for the purpose on the person entitled to the annuity notwithstanding anything in Rule 19 of the General Rules;

(c) the extent to which any decision on any such question is to be binding, and the circumstances in which it may be reviewed.

(5) If any person, for the purpose of obtaining for himself or any other person any relief from or repayment of tax under this Part of this Act, knowingly makes any false statement or false representation, he shall be liable to a penalty of five hundred pounds.