Taxes Consolidation Act 1997 section 482

Relief for expenditure on significant buildings and gardens

Section 482 provides tax relief for expenditure incurred on the repair, maintenance or restoration of heritage buildings, gardens and approved objects that are of significant scientific, historical, architectural, aesthetic or horticultural interest.

• Qualifying expenditure on an approved building or garden is treated as a loss in a notional separate trade, allowing the owner or occupier to offset it against total income; unrelieved amounts may be carried forward for up to two further chargeable periods.
• The property must be open to the public for at least 60 days per year, of which at least 40 days (including 10 weekend days) must fall within the period 1 May to 30 September; alternatively, the building may qualify as a registered tourist accommodation facility open for at least six months per year, four of which must be in that same period.
• Additional relief of up to €6,350 per chargeable period is available for the repair, maintenance or restoration of approved objects, the installation or replacement of security alarm systems, and public liability insurance for the property.
• If the Minister or the Revenue Commissioners revoke an approval, relief granted in the preceding five years (or two years in the case of approved objects) is clawed back; the relief is also restricted for high-income individuals and passive investors.