Taxes Consolidation Act 1997 section 372AJ

Non-application of relief in certain cases and provision against double relief

Section 372AJ restricts the availability of capital allowances under the urban renewal scheme in certain situations and prevents the same expenditure obtaining relief under more than one provision of the Tax Acts.

• Capital allowances under sections 372AC and 372AD are denied to property developers and to recipients of State grant assistance.
• Relief is confined to small and medium-sized enterprises and is not available to owner-operators in certain excluded sectors.
• Projects falling within the EU multisectoral framework on regional aid require prior approval from the European Commission.
• Where part of a building lies outside the qualifying area, expenditure is apportioned on a floor area basis, and double relief under any other provision of the Tax Acts is precluded.