Taxes Consolidation Act, 1997

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PART 11

Capital Allowances and Expenses for Certain Road Vehicles

Interpretation ( Part 11 ).

[FA73 s30(1), (5) and (6); FA76 s31, FA86 s50(1); FA88 s24(1); FA89 s12(1); FA92 s21(1); FA94 s21(1); FA95 s23(1); FA97 s21(1)]

373.—(1) Subject to section 380 (1), this Part shall apply to a vehicle which is a mechanically propelled road vehicle constructed or adapted for the carriage of passengers, other than a vehicle of a type not commonly used as a private vehicle and unsuitable to be so used.

(2) In this Part, “the specified amount”, in relation to expenditure incurred on the provision or hiring of a vehicle to which this Part applies, means—

(a) £2,500, where the expenditure was incurred on or after the 16th day of May, 1973, but such expenditure does not include—

(i) as respects sections 374 , 375 and 377 , expenditure incurred under a contract entered into before that day where either—

(I) the expenditure was incurred within 12 months after that day, or

(II) the contract was one of hire-purchase or for purchase by instalments,

and

(ii) as respects subsections (2) and (3) of section 378 and section 379 , expenditure where the contract of hire-purchase or for purchase by instalments was entered into before that day;

(b) £3,500, where the expenditure was incurred after the 28th day of January, 1976, but such expenditure does not include—

(i) as respects sections 374 , 375 and 377 , expenditure incurred within 12 months after that day under a contract entered into before that day, and

(ii) as respects subsections (2) and (3) of section 378 and section 379 , expenditure under a contract entered into on or before that day;

(c) £4,000, where the expenditure was incurred on or after the 6th day of April, 1986, but such expenditure does not include—

(i) as respects sections 374 , 375 and 377 , expenditure incurred within 12 months after that day under a contract entered into before that day, and

(ii) as respects subsections (2) and (3) of section 378 and section 379 , expenditure under a contract entered into before that day;

(d) £6,000, where the expenditure was incurred on or after the 28th day of January, 1988, but such expenditure does not include—

(i) as respects sections 374 , 375 and 377 , expenditure incurred within 12 months after that day under a contract entered into before that day, and

(ii) as respects subsections (2) and (3) of section 378 and section 379 , expenditure under a contract entered into before that day;

(e) £7,000, where the expenditure was incurred on or after the 26th day of January, 1989, but such expenditure does not include—

(i) as respects sections 374 , 375 and 377 , expenditure incurred within 12 months after that day under a contract entered into before that day, and

(ii) as respects subsections (2) and (3) of section 378 and section 379 , expenditure under a contract entered into before that day;

(f) £10,000, where the expenditure was incurred on or after the 30th day of January, 1992, but such expenditure does not include—

(i) as respects sections 374 , 375 and 377 , expenditure incurred within 12 months after that day under a contract entered into before that day, and

(ii) as respects subsections (2) and (3) of section 378 and section 379 , expenditure under a contract entered into before that day;

(g) £13,000, where the expenditure was incurred on or after the 27th day of January, 1994, on the provision or hiring of a vehicle which on or after that day was first registered in the State under section 131 of the Finance Act, 1992 , without having been previously registered in any other State which provides for the registration of a mechanically propelled vehicle, but such expenditure does not include—

(i) as respects sections 374 , 375 and 377 , expenditure incurred within 12 months after that day under a contract entered into before that day, and

(ii) as respects subsections (2) and (3) of section 378 and section 379 , expenditure incurred under a contract entered into before that day;

(h) £14,000, where the expenditure was incurred on or after the 9th day of February, 1995, on the provision or hiring of a vehicle which on or after that day was not a used or secondhand vehicle and was first registered in the State under section 131 of the Finance Act, 1992 , without having been previously registered in any other State which provides for the registration of a mechanically propelled vehicle, but such expenditure does not include—

(i) as respects sections 374 , 375 and 377 , expenditure incurred within 12 months after that day under a contract entered into before that day, and

(ii) as respects subsections (2) and (3) of section 378 and section 379 , expenditure incurred under a contract entered into before that day;

(i) £15,000, where the expenditure was incurred on or after the 23rd day of January, 1997, on the provision or hiring of a vehicle which, on or after that date was not a used or secondhand vehicle and was first registered in the State under section 131 of the Finance Act, 1992 , without having been previously registered in any other State which duly provides for the registration of a mechanically propelled vehicle.

(3) This Part (other than section 376 ) shall be construed as one with Part 9 , except that in section 375 “capital expenditure” shall be construed without regard to section 316 (1).