Taxes Consolidation Act 1997 section 372RA

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

Section 372RA provided income tax relief to owner-occupiers who incurred qualifying expenditure on the construction or refurbishment of a dwelling in a designated rural renewal area.

• Relief was available to individuals who occupied the qualifying premises as their only or main residence.
• Construction expenditure attracted relief at 5% per year over ten years.
• Refurbishment expenditure attracted relief at 10% per year over ten years.
• The section was repealed by Finance Act 2002 and consolidated into Chapter 11 of Part 10.