Taxes Consolidation Act 1997 section 372T

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

Section 372T restricts the availability of capital allowances under the rural renewal scheme in certain circumstances and prevents the same expenditure from attracting relief under any other provision of the Tax Acts.

• No relief is available to a property developer (or a connected person) who incurred the construction or refurbishment expenditure on the building, structure or qualifying premises.
• No relief is available where any part of the expenditure (incurred on or after 6 April 2001) is met directly or indirectly by State grant assistance, or, for expenditure incurred on or after 1 January 2003, where a project falls within the EU Multisectoral Framework notification requirements and prior Commission approval has not been obtained.
• No relief is available to owner-operators whose trade is carried on wholly or mainly in agriculture, coal, fishing, motor vehicles, transport, steel, shipbuilding, synthetic fibres or financial services; lessors are not affected.
• No relief is available where 250 or more individuals are employed or engaged in the trade or activity, and no double relief may be claimed under any other provision of the Tax Acts.