Taxes Consolidation Act 1997 section 333

Double rent allowance in respect of rent paid for certain business premises

Section 333 provided a double deduction for rent paid on qualifying business premises in the Temple Bar Area of Dublin, available where a bona fide commercial lease was entered into between unconnected parties within the qualifying period.

• The relief gave a further deduction equal to the ordinary rent deduction, doubling the allowance for rent paid on qualifying Temple Bar premises occupied for a trade or profession.
• A qualifying lease had to be granted on bona fide commercial terms in the qualifying period (6 April 1991 to 5 April 1999), or in any subsequent period ending on or before 31 December 1999, by a lessor to an unconnected lessee.
• The total relevant rental period in respect of any one qualifying premises was capped at 10 years, taking into account all previous lease periods under qualifying leases.
• Finance leases, leases granted on or after 21 April 1997 between connected persons, and arrangements involving cross-leasing between connected persons were excluded from the relief.