Finance Act 2008
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SCHEDULE 6 Miscellaneous Amendments in Relation to Claims for Repayment of Tax | ||
1. The Taxes Consolidation Act 1997 is amended in accordance with the following provisions: | ||
(a) in section 100(2) by substituting the following for paragraph (b): | ||
“(b) notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made— | ||
(i) the vendor may, before the expiration of 4 years after the date on which the reconveyance takes place, claim repayment of any amount by which tax assessed on such vendor by virtue of this section exceeded the amount which would have been so assessed if that date had been treated for the purposes of this section as the date fixed by the terms of the sale, and | ||
(ii) section 865(6) shall not prevent the Revenue Commissioners from repaying such an amount of tax where a timely claim has been made under this subsection and such a claim is a valid claim within the meaning of section 865(1)(b).”; | ||
(b) in section 101 by inserting “(notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made)” after “shall be made by repayment”; | ||
(c) in section 438(4) by substituting the following for paragraph (b): | ||
“(b) Notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made, relief under this subsection shall be given on a claim which shall be made within 4 years from the end of the year of assessment in which the loan or advance, or any part of it, as the case may be, is repaid to the company.”; | ||
(d) in section 480A— | ||
(i) by substituting the following for subsection (3): | ||
“(3) Where this section applies, the relevant individual shall, on the making of a claim in that behalf, within 4 years from the end of the year of assessment in which he or she ceases permanently to be engaged in the specified occupation, or to carry on the specified profession, as the case may be, be entitled to have a deduction made from his or her total income for up to any 10 of the years of assessment mentioned in subsection (4).”, | ||
and | ||
(ii) by inserting the following after subsection (3): | ||
“(3A) Subsection (3) shall apply notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made. Section 865(6) shall not prevent the Revenue Commissioners from repaying an amount of tax as a consequence of a timely claim for relief under this section where a valid claim for a repayment of tax (within the meaning of section 865(1)(b)) has been made.”; | ||
(e) in section 482(2) by substituting the following for paragraph (a): | ||
“(a) Subject to this section, and 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 a person (in this section referred to as “the claimant”), having made a claim in that behalf, proves that the conditions specified in paragraph (b) have been met, then, the Tax Acts shall apply as if the amount of the qualifying expenditure referred to in subparagraph (i) of paragraph (b) were a loss sustained in the chargeable period referred to in that subparagraph in a trade carried on by the claimant separate from any trade actually carried on by the claimant. 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.”; | ||
(f) in section 489(5) by inserting the following after paragraph (e): | ||
“(f) This subsection shall apply notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made. Section 865(6) shall not prevent the Revenue Commissioners from repaying an amount of tax as a consequence of an election made under the provisions of paragraph (a) or (b) where the specified individual has made a timely claim for relief in accordance with section 503 and a valid claim for a repayment of tax within the meaning of section 865(1)(b).”; | ||
(g) in section 539 by renumbering the existing text as subsection (1), and by inserting the following after subsection (1): | ||
“(2) Subsection (4) or (6) of section 865 shall not prevent the Revenue Commissioners from repaying an amount of tax as a consequence of an adjustment of tax made under this section, where a claim for any such adjustment is made within 4 years from the end of the chargeable period (within the meaning of section 321) in which the termination referred to in subsection (1) occurs.”; | ||
(h) in section 562— | ||
(i) in subsection (2), by inserting “and this is so shown within 4 years from the end of the chargeable period (within the meaning of section 321) in which the contingent liability has become enforceable” after “has been enforced,”, and | ||
(ii) by inserting the following after subsection (2): | ||
“(3) Subsection (2) shall apply notwithstanding any limitation in section 865(4) on the time within which a claim for repayment of tax is required to be made. Section 865(6) shall not prevent the Revenue Commissioners from repaying an amount of tax as a consequence of any adjustment made in accordance with subsection (2).”; | ||
(i) in section 563(1)(b) by inserting “Subsection (4) or (6) of section 865 shall not prevent the Revenue Commissioners from repaying an amount of tax as a consequence of any such adjustment.” after “may require.”; | ||
(j) in section 597(7) by inserting “or any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made” after “assessments may be made”; | ||
(k) in section 600A(5) by inserting “or any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made” after “assessments may be made”; | ||
(l) in section 605(4) by inserting “or any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made” after “assessments may be made”; | ||
(m) in section 652(5)(b) by inserting “or any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made” after “assessments may be made”; | ||
(n) in section 670(10) by inserting “(and notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made)” before “effect may be given.”; | ||
(o) in section 774 by inserting the following after subsection (7): | ||
“(7A) Subsection (7)(b)(ii) shall operate 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 the officer or employee makes a claim for relief in respect of a contribution which is not an ordinary annual contribution within 4 years from the end of the year of assessment in which such contribution is paid or borne by the officer or employee. Section 865(6) shall not prevent the Revenue Commissioners from making a repayment of tax as a consequence of such a claim, where a valid claim for a repayment of tax (within the meaning of section 865(1)(b)) has been made by the officer or employee.”; | ||
(p) in section 776 by inserting the following after subsection (2): | ||
“(2A) Subsection (2)(b)(ii) shall operate 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 the officer or employee makes a claim for relief in respect of a contribution which is not an ordinary annual contribution within 4 years from the end of the year of assessment in which such contribution is paid or borne by the officer or employee. Section 865(6) shall not prevent the Revenue Commissioners from making a repayment of tax as a consequence of such a claim, where a valid claim for a repayment of tax (within the meaning of section 865(1)(b)) has been made by the officer or employee.”; | ||
(q) in section 804(2)(a) by inserting “notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made,” after “repaid,”; | ||
(r) in section 929(3) by inserting “notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made” after “applicant” and, | ||
(s) in section 955(2)(b) by inserting “(notwithstanding any limitation in section 865(4) on the time within which a claim for a repayment of tax is required to be made)” after “repaid”. | ||
2. The Capital Acquisitions Tax Consolidation Act 2003 is amended— | ||
(a) in section 28, by inserting the following after subsection (5): | ||
“(5A) Notwithstanding section 57(3), relief shall be given under subsection (5)(a) on a claim which shall be made within 4 years after the liability referred to in that paragraph has been paid.”; | ||
and | ||
(b) in section 29, by inserting the following after subsection (1): | ||
“(1A) Notwithstanding section 57(3), relief shall be given under subsection (1) on a claim which shall be made within 4 years after the entitlement referred to in that subsection ceases.”. |