Taxes Consolidation Act 1997 section 1003A

Payment of tax by means of donation of heritage property

Section 1003A provides for the discharge of certain tax liabilities by means of a donation of heritage property to the Irish Heritage Trust or the Commissioners of Public Works in Ireland.

• A taxpayer may donate a qualifying heritage property (a building or garden meeting strict criteria) to the Irish Heritage Trust or the Commissioners of Public Works, and receive a non-refundable tax credit equal to 50 per cent of the property's market value on the valuation date.
• The tax credit is set first against the donor's oldest arrears of tax (including interest and penalties), then against any current liability nominated by the donor, and finally carried forward against future liabilities; no refund or interest arises from any resulting overpayment.
• Heritage property must be determined by the Minister for Housing, Local Government and Heritage (or by the Commissioners of Public Works) to be an outstanding, pre-eminent example of significant scientific, historical, horticultural, national, architectural or aesthetic interest, and the aggregate value of all heritage property approvals in any calendar year may not exceed €6,000,000.
• The donor must receive no consideration for the gift other than the tax credit itself, and no other tax relief may be claimed in respect of the same donation.