Taxes Consolidation Act 1997 section 380S

Additional allowance for relocation expenditure

Section 380S provides an additional relocation allowance, equal to 50% of qualifying relocation expenditure, for persons carrying on a relevant trade who relocate from a toxic docklands area.

• A person entitled to a relocation allowance under section 380R also qualifies for an additional relocation allowance equal to 50% of the same qualifying expenditure.
• The additional allowance is deducted in computing the profits of the relevant trade for the same chargeable period as the underlying relocation allowance.
• Where a claw-back arises under section 380R(5), an additional amount equal to 50% of the clawed-back sum is also treated as a trading receipt of the trade in the same chargeable period.
• The claw-back applies where the consideration received for the establishment land exceeds its market value at the date the relevant expenses were first incurred, subject to a cap of 50% of the aggregate relocation allowances granted.