Taxes Consolidation Act 1997 section 372S

Provisions supplementary to sections 372P to 372RA

Section 372S provides the supplementary rules — definitions, qualifying conditions, anti-avoidance restrictions and procedural matters — which apply across sections 372P to 372RA dealing with relief for rented residential accommodation in the various urban and area-based renewal schemes.

• Defines "certificate of reasonable cost", "house" and "total floor area" for the purposes of the rented residential reliefs.
• Restricts qualifying leases and denies relief on houses let to connected persons on non-arm's-length terms.
• Sets construction and refurbishment standards, inspection rights and a sole or main residence requirement for the lessee.
• Treats the deduction as a capital allowance for CGT purposes, denies relief for State-funded expenditure, and provides for appeals to the Appeal Commissioners.