Taxes Consolidation Act 1997 section 370

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

Section 370 was the operative provision of the Dublin Docklands Area renewal scheme, granting a double rent deduction to traders and professionals occupying qualifying premises under qualifying leases.

• Section 370 gave a second deduction equal to the rent already deductible on qualifying business premises in the Dublin Docklands Area.
• The relief applied for a maximum 10-year relevant rental period under a bona fide commercial arm's length lease between unconnected parties.
• Anti-avoidance rules denied the relief on rent paid to connected persons and on certain lessor-driven back-to-back lease arrangements.
• The provision was repealed by section 24(3)(e) of the Finance Act 2002 because the underlying Docklands scheme was never commenced.