Taxes Consolidation Act 1997 section 653BO

Restriction of deduction

Section 653BO provides that vacant homes tax is not a deductible expense when computing profits or gains chargeable to income tax, corporation tax or capital gains tax.

• Vacant homes tax (VHT) cannot be deducted in computing taxable profits or gains
• The prohibition applies across income tax, corporation tax and capital gains tax
• The rule overrides any other provision of the Tax Acts or Capital Gains Tax Acts that might otherwise permit a deduction
• Inserted by Finance Act 2022, section 96(1)