Taxes Consolidation Act 1997 section 328

Residential accommodation: allowance to owner-occupiers in respect of certain expenditure on construction or refurbishment

Section 328 provided an income tax deduction to owner-occupiers in respect of construction or refurbishment expenditure incurred on a qualifying residential premises within the Custom House Docks Area, with the relief spread over a ten-year period.

• Gave a deduction from total income to an individual who incurred qualifying expenditure on the construction or refurbishment of a dwelling within the Custom House Docks Area used as the individual's only or main residence.
• The annual deduction was 5 per cent of construction expenditure, or 10 per cent of refurbishment expenditure incurred on or after 26 January 1994, available for the year of assessment in which the expenditure was incurred and the nine subsequent years.
• The premises had to satisfy floor area limits and, where it was not a new house provided for sale, a certificate of reasonable cost had to be in force.
• Section 328 was repealed by section 24(3)(a) Finance Act 2002, with existing entitlements preserved by the saving provision in section 372AV.