Finance Act 2011

Finance Act 2011 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.ie) Translations (Houses of the Oireachtas) Government Publications for Sale EU Law (EUR-Lex) FAQ Disclaimer Feedback Helpdesk Search Baile Reachtaíocht Achtanna an Oireachtais Ionstraimí Reachtúla Reachtaíocht Réamh-1922 Bunreacht Acmhainní Seachtracha Billí (Tithe an Oireachtais) Iris Oifigiúil Achtanna Athbhreithnithe (CAD) (An Coimisiún um Athchóiriú an Dlí) Liosta Rangaithe Reachtaíochta Aistriúcháin (achtanna.ie) Aistriúcháin (Tithe an Oireachtais) Foilseacháin Rialtais ar Díol Dlí AE (EUR-Lex) CCanna (Ceisteanna Coitianta) Séanadh Aiseolas Deasc chabhrach Cuardach TitleTeideal Year(s) or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 2011 Finance Act 2011 Finance Act 2011 Permanent Page URL View by SectionAmharc de réir Ailt View Full ActAmharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Open PDFOscail PDF Print Full ActPriontáil an tAcht Iomlán Number 6 of 2011 FINANCE ACT 2011 ARRANGEMENT OF SECTIONS

PART 1

Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax

Chapter 1

Interpretation Section

Section 1

Chapter 2

Income Levy and Universal Social Charge

Section 2

Section 3

Chapter 3

Income Tax

Section 4

Section 5

Section 6

Section 7

Section 8

Section 9

Section 10

Section 11

Section 12

Section 13

Section 14

Section 15

Section 16

Section 17

Section 18

Section 19

Chapter 4

Income Tax, Corporation Tax and Capital Gains Tax.

Section 20

Section 21

Section 22

Section 23

Section 24

Section 25

Section 26

Section 27

Section 28

Section 29

Section 30

Section 31

Section 32

Section 33

Chapter 5

Corporation Tax

Section 34

Section 35

Section 36

Section 37

Section 38

Section 39

Section 40

Section 41

PART 2

Customs and Excise

Section 42

Section 43

Section 44

Section 45

Section 46

Section 47

Section 48

Section 49

Section 50

Section 51

Section 52

Section 53

Section 54

PART 3

Value-Added Tax

Section 55

Section 56

Section 57

Section 58

Section 59

Section 60

Section 61

PART 4

Stamp Duties

Section 62

Section 63

Section 64

Section 65

Section 66

PART 5

Capital Acquisitions Tax

Section 67

Section 68

Section 69

Section 70

PART 6

Miscellaneous

Section 71

Section 72

Section 73

Section 74

Section 75

Section 76

Section 77

Section 78

Section 79

Section 80

Section 81

Section 82

Section 83

Section 84

SCHEDULE 1 Amendments Consequential on Changes in Personal Tax Credits SCHEDULE 2 Post-consolidation Amendments (Part 3) SCHEDULE 3 Miscellaneous Technical Amendments in Relation to Tax Acts Referred to Betting Act 1931 1931, No. 27 Capital Acquisitions Tax Consolidation Act 2003 2003, No. 1 Companies Act 1963 1963, No. 33 Companies (Amendment) Act 1983 1983, No. 13 Credit Institutions (Financial Support) Act 2008 2008, No. 18 Criminal Procedure Act 1967 1967, No. 12 Electricity Regulation Act 1999 1999, No. 23 Finance Act 1950 1950, No. 18 Finance Act 1983 1983, No. 15 Finance Act 1987 1987, No. 10 Finance Act 1992 1992, No. 9 Finance Act 1999 1999, No. 2 Finance Act 2001 2001, No. 7 Finance Act 2002 2002, No. 5 Finance Act 2003 2003, No. 3 Finance Act 2005 2005, No. 5 Finance Act 2008 2008, No. 3 Finance (No. 2) Act 2008 2008, No. 25 Finance Act 2009 2009, No. 12 Finance Act 2010 2010, No. 5 Freedom of Information Act 1997 1997, No. 13 Health Act 1970 1970, No. 1 Health Insurance (Miscellaneous Provisions) Act 2009 2009, No. 24 Housing Act 1966 1966, No. 21 Housing Acts 1966 to 2009 Inland Fisheries Act 2010 2010, No. 10 Inland Revenue Regulation Act 1890 53 & 54 Vict., c.21 National Asset Management Agency Act 2009 2009, No. 34 National Pensions Reserve Fund Act 2000 2000, No. 33 Official Secrets Act 1963 1963, No. 1 Planning and Development Acts 2000 to 2010 Public Service Superannuation (Miscellaneous Provisions) Act 2004 2004, No. 7 Social Welfare Consolidation Act 2005 2005, No. 26 Stamp Duties Consolidation Act 1999 1999, No. 31 Taxes Consolidation Act 1997 1997, No. 39 Tourist Traffic Acts 1939 to 2003 Tribunal of Inquiry (Evidence) Acts 1921 to 2002 Value-Added Tax Act 1972 1972, No. 22 Value-Added Tax Consolidation Act 2010 2010, No. 31 Number 6 of 2011 FINANCE ACT 2011 AN ACT TO PROVIDE FOR THE IMPOSITION, REPEAL, REMISSION, ALTERATION AND REGULATION OF TAXATION, OF STAMP DUTIES AND OF DUTIES RELATING TO EXCISE AND OTHERWISE TO MAKE FURTHER PROVISION IN CONNECTION WITH FINANCE INCLUDING THE REGULATION OF CUSTOMS. [6th February, 2011] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

PART 1

Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax

Chapter 1

Interpretation Interpretation (Part 1).

1.— In this Part “Principal Act” means the Taxes Consolidation Act 1997 .

Chapter 2

Income Levy and Universal Social Charge Cessation of charge to income levy.

2.— The Principal Act is amended in Part 18A by inserting the following after section 531N: “Cessation of charge to income levy.

531NA.— Subject to section 531AY, income levy shall cease to be charged, in accordance with this Part, for the year of assessment 2011 and subsequent years of assessment.”.

Universal social charge.

3.— (1) The Principal Act is amended— (a) by inserting the following Part after Part 18C: “PART 18D Universal Social Charge Definitions (Part 18D).

531AL.— In this Part— ‘aggregate income for the tax year’, in relation to an individual and a tax year, means the aggregate of the individual’s— (a) relevant emoluments in the tax year, including relevant emoluments that are paid in whole or in part for a tax year other than the tax year during which the payment is made, and (b) relevant income for the tax year; ‘Collector-General’ means the Collector-General appointed under section 851; ‘employee’ and ‘employer’ have the same meanings as in section 983; ‘excluded emoluments’ means emoluments which have been gifted to the Minister for Finance under section 483; ‘income levy’ has the meaning assigned to it by section 531B; ‘income tax month’ means a calendar month; ‘inspector’ means an inspector of taxes or other officer of the Revenue Commissioners; ‘PAYE Regulations’ means the Income Tax (Employments) (Consolidated) Regulations 2001 ( S.I. No. 559 of 2001 ); ‘relevant emoluments’ and ‘relevant income’ shall be construed in accordance with paragraphs (a) and (b), respectively, of the Table to section 531AM(1); ‘similar type payments’ means payments which are of a similar character to social welfare payments but which are made by— (a) the Health Service Executive, (b) the Department of Community, Equality and Gaeltacht Affairs, (c) the Department of Enterprise, Trade and Innovation, (d) the Department of Education and Skills, (e) the Department of Agriculture, Fisheries and Food, (f) An Foras Áiseanna Saothair, in respect of schemes mentioned in clauses (I), (II) and (III) of section 472A(1)(b)(i), or (g) any other state or territory; ‘social welfare payments’ means payments made under the Social Welfare Acts; ‘tax year’ means a year of assessment within the meaning of the Tax Acts; ‘universal social charge’ has the meaning assigned to it by section 531AM.

Charge to universal social charge.

531AM.— (1) With effect from 1 January 2011, there shall be charged, levied and paid, in accordance with the provisions of this Part, a tax to be known as ‘universal social charge’ in respect of the income specified in paragraphs (a) and (b) of the Table to this subsection.

TABLE (a) The income described in this paragraph (in this Part referred to as ‘relevant emoluments’) is emoluments to which Chapter 4 of Part 42 applies or is applied, including— (i) any allowable contributions referred to in Regulations 41 and 42 of the PAYE Regulations, (ii) the initial market value (within the meaning of section 510(2)) of any shares, excluded from the charge to income tax by virtue of section 510(4), appropriated in accordance with Chapter 1 of Part 17, (iii) the market value (determined in accordance with section 548) of the right referred to in section 519A(1) or 519D(1), and (iv) any gain exempted from income tax by virtue of section 519A(3) or 519D(3), but not including— (I) social welfare payments and similar type payments, (II) excluded emoluments, (III) emoluments disregarded by an employer on the direction of an inspector in accordance with Regulation 10(3) of the PAYE Regulations, (IV) any amount in respect of which relief is due under section 201(5)(a) and paragraphs 6 and 8 of Schedule 3, and (V) emoluments of an individual who is resident in a territory with which arrangements have been made under subsection (1)(a)(i) or (1B)(a)(ii) of section 826 in relation to affording relief from double taxation, where those emoluments are the subject of a notification issued under section 984(1). (b) The income described in this paragraph (in this Part referred to as ‘relevant income’) is income, without regard to any amount deductible from or deductible in computing total income, from all sources as estimated in accordance with the Tax Acts, other than— (i) relevant emoluments, (ii) any emoluments, payments, expenses or other amounts referred to in clauses (I) to (V) of paragraph (a)(iv) of this Table, (iii) any gains, income or payments to which any of the following provisions apply— (I) Chapter 4 of Part 8; (II) Chapter 5 of Part 8; (III) Chapter 7 of Part 8; (IV) Chapter 5 of Part 26; (V) Chapter 6 of Part 26; (VI) Chapter 1A of Part 27; (VII) Chapter 4 of Part 27, (iv) where section 825A applies in respect of an individual for a tax year, an amount equal to the difference between— (I) the individual’s total income for the tax year had that section not applied for that year, and (II) the amount of total income which if charged to income tax for the year would have given an amount of income tax payable equal to that which would be payable by virtue of the operation of that section, (v) where section 1025 applies in respect of an individual, the amount of any deduction for any payment to which that section applies, made by an individual pursuant to a maintenance arrangement (within the meaning of that section) relating to the marriage for the benefit of the other party to the marriage unless section 1026 applies in respect of such payment,

(vi) where section 382 applies in respect of an individual carrying on a trade or profession, an amount equal to the amount referred to in section 531AU(1), and (vii) where section 272, 284, 658 or 659 applies in respect of an individual carrying on a trade or profession, an amount equal to the amount referred to in section 531AU(2), and— (I) as if sections 140, 141, 142, 143, 195, 232, 234 and 664 were never enacted, and (II) without regard to any deduction— (A) in respect of double rent allowance under section 324(2), 333(2), 345(3) or 354(3), (B) under section 372AP, in computing the amount of a surplus or deficiency in respect of rent from any premises, (C) under section 372AU, in computing the amount of a surplus or deficiency in respect of rent from any premises, (D) under section 847A, in respect of a relevant donation (within the meaning of that section), or (E) under section 848A, in respect of a relevant donation (within the meaning of that section).

Rate of charge.

531AN.— (1) For the tax year 2011 and for each subsequent tax year an individual shall be charged to universal social charge on his or her aggregate income for the tax year— (a) at the rate specified in column (2) of the Table to this section corresponding to the part of aggregate income specified in column (1) of that Table where the individual is aged under 70 years, and (b) at the rate specified in column (3) of the Table to this section corresponding to the part of aggregate income specified in column (1) of that Table where the individual is aged 70 years or over at any time during the tax year.

TABLE Part of aggregate income Rate of universal social charge (Individual aged under 70 years) Rate of universal social charge (Individual aged 70 years or over)

(1)

(2)

531AO.— (1) An employer shall be liable in the first instance to pay universal social charge due in respect of any payment of relevant emoluments.

Record keeping.

531AP.— (1) An employer shall record the following particulars in respect of each employee to whom payment of relevant emoluments has been made in a tax year— (a) the amount of each payment of relevant emoluments, (b) the amount of universal social charge deducted from each such payment, (c) the total amount of universal social charge which the employer is liable to remit in respect of each such payment, and (d) the dates of commencement and cessation within the tax year of the employment of the individual, where applicable.

Power of inspection.

531AQ.— (1) Regulation 32 of the PAYE Regulations, as it relates to inspection of records, shall apply, with any necessary modifications, to the particulars recorded pursuant to section 531AP as it applies to the records specified in the said Regulation 32.

Estimation of universal social charge due.

531AR.— Sections 989, 990 and 990A shall apply to universal social charge as they apply to income tax.

Universal social charge payable by chargeable persons (within the meaning of Part 41).

531AS.— (1) Universal social charge payable for a tax year in respect of an individual’s aggregate income for a tax year, being an individual who is a chargeable person (within the meaning of Part 41), shall be due and payable in all respects as if it were an amount of income tax due and payable by the chargeable person under the Income Tax Acts, but without regard to section 1017.

Universal social charge payable by persons other than chargeable persons (within the meaning of Part 41).

531AT.— (1) Universal social charge payable for a tax year in respect of an individual’s aggregate income for a tax year, being an individual who is not a chargeable person (within the meaning of Part 41), shall be assessed, charged and paid in all respects as if it were an amount of income tax due and payable under the Income Tax Acts, but without regard to section 1017.

Capital allowances and losses.

531AU.— (1) Where an individual who has sustained a loss in a trade or profession for which relief from income tax has not been wholly given in an earlier tax year carries forward any unrelieved portion of that loss to a later tax year in accordance with section 382, the amount referred to in section 531AM(1)(b)(vi) is an amount equal to the amount of the carried forward loss that is deducted from or set off against the amount of profits or gains on which the individual is assessed to income tax under Schedule D in respect of that trade or profession for that later tax year.

Married couples.

531AV.— Where an election has been made or is deemed to have been made under section 1018 and has effect for a tax year, universal social charge payable by one spouse shall be charged, collected and recovered as if it were universal social charge payable by the spouse assessable under section 1017.

Repayments.

531AW.— (1) In any case of underpayment or overpayment of universal social charge to the Collector-General, payment of the amount not paid or repayment of the amount overpaid, as the case may be, shall be made to or by the Collector-General, as appropriate.

Restriction on deduction.

531AX.— (1) Universal social charge paid in respect of a tax year is in addition to, and does not reduce, any liability which an individual may have in respect of income tax or other taxes under the Tax Acts.

Recovery of unpaid universal social charge.

531AY.— (1) Where any universal social charge in relation to an employee, remains unpaid for a tax year and is not otherwise recovered (in this section referred to as the ‘underpayment’), the employer shall be treated, on receipt of a notice from an inspector to the effect that this section applies, as making a payment of relevant emoluments to the employee in the subsequent tax year of an amount equal to the amount determined by subsection (2) (in this section referred to as ‘notional emoluments’).

Repayments of, and recovery of unpaid, income levy.

531AZ.— (1) Where any income levy in relation to an employee, remains unpaid for the tax year 2009 or 2010 and is not otherwise recovered, the provisions of section 531AY in relation to— (a) the making of notional emoluments and the apportionment of those emoluments, and (b) the adjustment of tax credits and the standard rate cut-off point, shall apply to the recovery of any underpayment of income levy as they apply to the recovery of any underpayment of universal social charge.

Application of provisions relating to income tax.

531AAA.— The provisions of— (a) Chapter 1 and 4 of Part 38, in relation to the making of returns of income, (b) Chapter 1 and 2 of Part 39, in relation to the making of assessments of income tax, (c) Chapter 1 and 3 of Part 40, in relation to appeals, (d) Chapter 1 of Part 42, in relation to the collection and recovery of unpaid income tax, and (e) Part 47, in relation to penalties, offences, interest and other sanctions, shall apply, with any necessary modifications, to universal social charge as those provisions apply to income tax.

Regulations.

531AAB.— (1) The Revenue Commissioners may make regulations for the purposes of the proper implementation and administration of this Part, and those regulations may, in particular and without prejudice to the generality of the foregoing, include provision— (a) for requiring any employer who pays relevant emoluments exceeding the limit specified in section 531AM(2) to notify the Revenue Commissioners within the period specified in the regulations that that employer is such an employer; (b) for requiring any employer making any payment of relevant emoluments, when that employer makes the payment, to make a deduction or repayment of universal social charge calculated by reference to such rate or rates of charge for the tax year as may be specified; (c) for the deduction of universal social charge at whatever rate or rates are specified for a tax year in such cases or classes of cases as may be provided for by the regulations; (d) for specifying the manner in which deductions or repayments of universal social charge are to be made from any payment of relevant emoluments made by an employer; (e) for rendering persons who are required to make any deduction or repayment of universal social charge accountable, in the case of a deduction (whether or not made), for the amount of universal social charge deductible and liable to pay that amount to the Revenue Commissioners and entitled, in the case of a repayment, (if a repayment has been made) to be paid it, or given credit for it, by the Revenue Commissioners; (f) for treating persons who are not employers as employers in such cases or classes of cases as may be provided for by the regulations; (g) for the manner in which employers are to remit payments of universal social charge to the Revenue Commissioners, including remittance by electronic means, and the manner in which the Revenue Commissioners are to acknowledge such payments; (h) for the period within which payment of universal social charge is to be remitted to the Revenue Commissioners; (i) for requiring any employer making any payment of relevant emoluments to provide the Revenue Commissioners, within a period specified in the regulations, and in such form as the Revenue Commissioners may approve or provide, with information in relation to payments of relevant emoluments and universal social charge deducted from such relevant emoluments, and such other information as the Revenue Commissioners consider appropriate, and in whatever form they consider appropriate; (j) for requiring any employer making any payment of relevant emoluments to provide his or her employees, within a period specified in the regulations or on the occurrence of a particular event such as the cessation of an employee’s employment, and in such form as the Revenue Commissioners may approve or provide, with information in relation to payments of relevant emoluments and universal social charge deducted from such relevant emoluments;

(k) for requiring every employer who pays relevant emoluments exceeding the limits specified in section 531AM(2) to keep and maintain a register of that employer’s employees in such manner as may be specified in the regulations and, on being required to do so on receipt of a notice from the Revenue Commissioners, to deliver the register to the Revenue Commissioners within the period specified in the notice; (l) for the production to, and inspection by, persons authorised by the Revenue Commissioners of payroll records and other documents and records for the purpose of satisfying themselves that universal social charge in respect of relevant emoluments has been and is being duly deducted, repaid and accounted for; (m) for the collection and recovery, whether by deduction from relevant emoluments paid in any tax year or otherwise, of universal social charge in respect of relevant emoluments which has not been deducted or otherwise recovered during the tax year; (n) for the collection and recovery, to the extent that the Revenue Commissioners consider appropriate, and the employee does not object, of universal social charge in respect of income other than relevant emoluments, which has not otherwise been recovered during the tax year; (o) for the collection and recovery, from the employee rather than from the employer, of any amount of universal social charge that the Revenue Commissioners consider should have been deducted by the employer from the relevant emoluments of the employee; (p) for the collection and recovery from an employee of any amount of interest and penalties due from the employee that has not otherwise been recovered; (q) for the repayment to an employer of a payment or remittance (including part of such a payment or remittance) that is in excess of the amount of liability due and payable under this Part against which it is credited provided that a claim for such repayment is made by the employer within 4 years after the end of the tax year to which the claim applies, and (r) for appeals with respect to matters arising under the regulations that would not otherwise be the subject of an appeal.

Care and management.

531AAC.— Universal social charge is under the care and management of the Revenue Commissioners and Part 37 shall apply to universal social charge as it applies to income tax.

Excess bank remuneration charge.

531AAD.— (1) In this section— ‘excess bank remuneration charge’ shall be construed in accordance with subsection (7); ‘relevant employee’, in relation to a specified institution, means an employee of the specified institution— (a) who is resident in the State (within the meaning of Part 34) in a tax year for the purposes of the Acts, or (b) the duties of whose employment in that specified institution are at any time in the tax year concerned performed wholly or partly in the State; ‘relevant remuneration’, in relation to a relevant employee, means, subject to subsection (2), relevant emoluments that are not regular salary or wages or a regular benefit or perquisite; ‘regular’, in relation to any salary, wages, fees, benefit or perquisite of a relevant employee, means so much of the amount of such salary, wages, fees, benefit or perquisite that does not vary according to— (a) the performance of, or any part of— (i) any business of the specified institution, or (ii) any business of a person connected with the specified institution, (b) the contribution made by the relevant employee to the performance of, or of any part of, any business referred to in subparagraph (i) or (ii) of paragraph (a), or (c) the performance by the relevant employee of any of the duties of the employment, or any similar consideration; ‘specified institution’ means an institution, specified by order of the Minister for Finance made under section 6

“ ‘the Irish taxes’ means income tax, income levy, universal social charge and corporation tax;”.

Chapter 3

Income Tax Amendment of section 15 (rate of charge) of Principal Act.

4.— As respects the year of assessment 2011 and subsequent years of assessment, section 15 of the Principal Act is amended— (a) in subsection (3)(i) by substituting “€23,800” for “€27,400”, and (b) by substituting the following Table for the Table to that section: “TABLE

PART 1

Part of taxable income Rate of tax Description of rate

(1)

(2)

PART 2

Part of taxable income Rate of tax Description of rate

(1)

(2)

PART 3

Part of taxable income Rate of tax Description of rate

(1)

(2)

Age exemption.

5.— As respects the year of assessment 2011 and subsequent years of assessment, section 188 of the Principal Act is amended— (a) in subsection (2)(a) by substituting “€36,000” for “€40,000” (inserted by the Finance Act 2008 ), and (b) in subsection (2)(b) by substituting “€18,000” for “€20,000” (inserted by the Finance Act 2008 ).

Personal tax credits.

6.— (1) Where an individual is entitled under a provision of the Principal Act mentioned in column (1) of the Table to this subsection to have the income tax to be charged on the individual, other than in accordance with the provisions of section 16(2) of the Principal Act, reduced for the year of assessment 2011 and any subsequent year of assessment and the amount of the reduction would, but for this section, be an amount which is the lesser of— (a) the amount specified in column (2) of that Table, and (b) the amount which reduces that liability to nil, the amount of the reduction in accordance with paragraph (a) shall be the amount of the tax credit specified in column (3) of the Table.

TABLE Statutory Provision Existing tax credit Tax credit for the year 2011 and subsequent years

(1)

(2)

(3)

Section 461

(basic personal tax credit) (married person) €3,660 €3,300 (widowed person bereaved in year of assessment) €3,660 €3,300 (single person) €1,830 €1,650 Section 461A (additional tax credit for certain widowed persons) €600 €540

Section 462

(one-parent family tax credit) €1,830 €1,650

Section 463

(widowed parent tax credit) (1st year) €4,000 €3,600 (2nd year) €3,500 €3,150 (3rd year) €3,000 €2,700 (4th year) €2,500 €2,250 (5th year) €2,000 €1,800

Section 464

(age tax credit) (married person) €650 €490 (single person) €325 €245

Section 465

(incapacitated child tax credit) €3,660 €3,300

Section 466

(dependant relative tax credit) €80 €70 Section 466A (home carer tax credit) €900 €810

Section 468

(blind person’s tax credit) (blind person) €1,830 €1,650 (both spouses blind) €3,660 €3,300

Section 472

(employee tax credit) €1,830 €1,650

(2)

Section 3

(as amended by the Finance Act 2008 ) of the Finance Act 2002 shall have effect subject to the provisions of this section.

Benefit-in-kind taxation.

7.— (1) The Principal Act is amended— (a) in section 118(5E) by inserting the following after paragraph (b): “(c) This subsection shall not apply as respects the year of assessment 2011 and each subsequent year of assessment.”, (b) in section 120A by inserting the following after subsection (3): “(4) This section shall not apply as respects the year of assessment 2011 and each subsequent year of assessment.”, and (c) in section 122(1)(a) in the definition of “preferential loan” by substituting “paid” for “payable” in each place.

Taxation of lump sums.

8.— (1) The Principal Act is amended in section 201 by inserting the following after subsection (7): “(8) (a) Notwithstanding the provisions of this section and Schedule 3, income tax shall be charged by virtue of section 123 on the amount of the lump sum which exceeds the lesser of— (i) that part of the lump sum which, apart from this subsection, would be exempt from income tax by virtue of this section and Schedule 3, including any deduction in computing the charge to income tax under paragraph 6 of that Schedule, and (ii) €200,000. (b) The amount of €200,000 referred to in subparagraph (a)(ii) shall be reduced by an amount equal to the aggregate amounts exempted from income tax in respect of all payments to which section 123 applied which were paid before or at the same time as the payment of the lump sum, and shall include any deduction in computing the charge to income tax under paragraph 6 of Schedule 3. (c) The amount determined in accordance with paragraphs (a) and (b) shall be determined without regard to subsections (1A) and (2). (d) Where 2 or more payments in respect of which tax is chargeable by virtue of section 123 are made to or in respect of the same person in respect of the same office or employment, or in respect of different offices or employments, for the purposes of this subsection this paragraph shall apply as if those payments were a single payment of an amount equal to that aggregate amount, and the provisions of paragraph (a) shall apply to that amount accordingly.”.

Amendment of section 470B (age-related relief for health insurance premiums) of Principal Act.

9.— Section 470B of the Principal Act is amended by substituting the following for subsection (4): “(4) Subject to subsections (5) and (6), where, for a relevant year of assessment, an individual or, if the individual is a married person assessed to tax in accordance with section 1017, the individual’s spouse makes a payment to an authorised insurer under a relevant contract and— (a) the payment is in respect of a premium due under the relevant contract and the relevant contract was renewed or entered into on or after 1 January 2009 but before 1 January 2012, and (b) the payment or part of the payment, as the case may be, is attributable to an insured person, and only to an insured person, who is aged 50 years or over on the date the relevant contract is renewed or entered into, as the case may be, then the individual shall, for the relevant year of assessment, in respect of so much of the relievable amount of the payment or part of the payment, as the case may be, as is attributable to an insured person referred to in paragraph (b), be entitled to a credit (referred to in this section as ‘age-related tax credit’) equal to the lower of— (i) as respects a relevant contract renewed or entered into on or after 1 January 2009 but before 1 January 2010, the amount specified in column (2) of the Table to this subsection corresponding to the class of insured person mentioned in column (1) of that Table or, where the payment made to the authorised insurer is a monthly or other instalment towards the payment of the total annual premium due under the relevant contract, an amount equal to the amount so specified divided by the total number of instalments to be made to pay such total annual premium, (ii) as respects a relevant contract renewed or entered into on or after 1 January 2010, the amount specified in column (3) of the Table to this subsection corresponding to the class of insured person mentioned in column (1) of that Table or, where the payment made to the authorised insurer is a monthly or other instalment towards the payment of the total annual premium due under the relevant contract, an amount equal to the amount so specified divided by the total number of instalments to be made to pay such total annual premium, (iii) as respects a relevant contract renewed or entered into on or after 1 January 2011, the amount specified in column (4) of the Table to this subsection corresponding to the class of insured person mentioned in column (1) of that Table or, where the payment made to the authorised insurer is a monthly or other instalment towards the payment of the total annual premium due under the relevant contract, an amount equal to the amount so specified divided by the total number of instalments to be made to pay such total annual premium, and

(iv) an amount which reduces the income tax to be charged on the individual for the relevant year of assessment, other than in accordance with section 16(2), to nil.

TABLE Class of Insured Person Amount of age-related tax credit Amount of age-related tax credit Amount of age-related tax credit

(1)

(2)

(3)

Employee share schemes.

10.— The Principal Act is amended— (a) in section 479 by inserting the following after subsection (8): “(9) The deduction authorised by subsection (2) shall not be made in respect of eligible shares where those shares are subscribed for on or after 8 December 2010.”, (b) in section 519D by inserting the following after subsection (7): “(8) The exemption from income tax authorised by subsection (2) in respect of the receipt of the right referred to in subsection (1) shall not apply where the right is received on or after 24 November 2010.

Termination of relief to individuals on loans applied in acquiring interest in companies.

11.— Section 248 of the Principal Act is amended by inserting the following after subsection (5): “(6) Notwithstanding subsection (5), the deduction authorised by that subsection shall not exceed— (a) as respects the year of assessment 2011, 75 per cent of the deduction that would but for this subsection be authorised by that subsection, (b) as respects the year of assessment 2012, 50 per cent of the deduction that would but for this subsection be authorised by that subsection, (c) as respects the year of assessment 2013, 25 per cent of the deduction that would but for this subsection be authorised by that subsection, and (d) as respects the year of assessment 2014 and each subsequent year of assessment, zero per cent of the deduction that would but for this subsection be authorised by that subsection.

Abolition of relief for trade union subscriptions.

12.— Section 472C of the Principal Act is amended by inserting the following after subsection (8): “(9) This section ceases to have effect for the year of assessment 2011 and each subsequent year of assessment.”.

Relief for energy efficient works.

13.— The Principal Act is amended by inserting the following after section 477: “477A.— (1) In this section— ‘appropriate percentage’, in relation to a year of assessment, means a percentage equal to the standard rate of tax for that year; ‘approved contractor’ means a person who is a registered person and at the time of carrying out the qualifying work has— (a) a tax clearance certificate issued under section 1095, or (b) a certificate of authorisation issued under section 531; ‘Authority’ means the Sustainable Energy Authority of Ireland; ‘certificate of payment’, in relation to an individual, means a certificate issued by the Authority certifying that the individual has incurred qualifying expenditure and stating the amount of the qualifying expenditure so incurred; ‘qualifying expenditure’ means expenditure not exceeding the relevant limit incurred on qualifying work carried out by an approved contractor on a qualifying residence; ‘qualifying residence’ means a residential premises situated in the State in respect of which no rent is received or receivable by the individual making a claim under this section other than any rent that forms part of any relevant sums (within the meaning of section 216A) received by the individual in respect of that residential premises; ‘qualifying work’ shall be read in accordance with subsection (2); ‘registered person’ means a person who is registered with, and approved by, the Authority to carry out qualifying work; ‘relevant limit’, in relation to a year of assessment, means— (a) €10,000 in the case of an individual assessed to tax in accordance with section 1016, or (b) €15,000 in the case of individuals assessed to tax in accordance with section 1017, subject in any case to a maximum amount of €15,000 in respect of which relief may be claimed under this section in respect of any one qualifying residence in the year of assessment concerned; ‘rent’ has the same meaning as in Chapter 8 of Part 4; ‘residential premises’ means a building or part of a building used solely or mainly as a dwelling; ‘tax reference number’ has the same meaning as in section 885.

Amendment of section 473 (allowance for rent paid by certain tenants) of Principal Act.

14.— Section 473 of the Principal Act is amended— (a) in subsection (1) by substituting the following for the definition of “specified limit”: “ ‘specified limit’, in relation to an individual for a year of assessment specified in column (1) of the Table to this definition, means— (a) in the case of— (i) a married person assessed to tax in accordance with section 1017, or (ii) a widowed person, the corresponding amount specified in column (2) of the Table to this definition; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘specified limit’ means the corresponding amount specified in column (3) of the Table to this definition, and (b) in any other case, the corresponding amount specified in column (4) of the Table to this definition; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘specified limit’ means the corresponding amount specified in column (5) of the Table to this definition;

TABLE

(1)

(2)

(3)

(4)

Amendment of section 473A (relief for fees paid for third level education, etc.) of Principal Act.

15.— Section 473A of the Principal Act is amended for the year of assessment 2011 and each subsequent year of assessment by inserting the following after subsection (4): “(4A) In any claim or claims for relief under this section made by an individual in respect of qualifying fees, there shall be disregarded for each year of assessment— (a) the first €2,000 of those fees or the full amount of those fees, whichever is the lesser, where the qualifying fees, or part of the qualifying fees, the subject of the claim or claims concerned relate to a full-time course or full-time courses, or (b) the first €1,000 of those fees or the full amount of those fees, whichever is the lesser, where all the qualifying fees the subject of the claim or claims concerned relate only to a part-time course or part-time courses.”.

Tax treatment of flight crew in international traffic.

16.— The Principal Act is amended in Chapter 5 of Part 5 by inserting the following section after section 127A: “127B.— (1) Income arising to any individual, whether resident in the State or not, from any employment exercised aboard an aircraft— (a) that is operated in international traffic, and (b) where the aircraft is so operated by an enterprise that has its place of effective management in the State, shall be chargeable to tax under Schedule E.

Exemption of certain earnings of writers, composers and artists.

17.— Section 195 of the Principal Act is amended in subsection (3)— (a) in paragraph (a) by substituting “subject to paragraphs (aa) and (b)” for “subject to paragraph (b)”, and (b) by inserting the following after paragraph (a): “(aa) The amount of the profits or gains for a year of assessment which an individual shall be entitled to have disregarded for the purposes of the Income Tax Acts by virtue of paragraph (a) shall not exceed €40,000 for the year of assessment 2011 and each subsequent year of assessment.”.

Amendment of Schedule 13 (accountable persons for purposes of Chapter 1 of Part 18) to Principal Act.

18.— (1) Schedule 13 to the Principal Act is amended— (a) by deleting paragraphs 132 and 146, (b) by deleting “174. Inland Fisheries Ireland.” (inserted by section 8 of, and Part 13 of Schedule 2 to, the Inland Fisheries Act 2010 ), (c) by inserting the following after paragraph 180: “181. Inland Fisheries Ireland.”, and (d) by inserting the following after paragraph 181 (inserted by paragraph (c)): “182. National Consumer Agency.

Retirement benefits.

19.— (1) Chapter 1 of Part 30 of the Principal Act is amended— (a) in section 772(3A) by substituting the following for paragraph (a): “(a) Subject to paragraph (aa), the Revenue Commissioners shall not approve a retirement benefits scheme for the purposes of this Chapter unless it appears to them that the scheme provides for any individual entitled to a pension under the scheme or, as the case may be, where the pension or part of the pension is payable in accordance with a pension adjustment order, the spouse or former spouse of such an individual to whom the pension or part of the pension is so payable (in this subsection referred to as the ‘relevant individual’), to opt, on or before the date on which that pension would otherwise become payable, for the transfer, on or after that date, to— (i) the relevant individual, or (ii) an approved retirement fund, of an amount equivalent to the amount determined by the formula— A — B where— A is the amount equal to the value of the relevant individual’s accrued rights under the scheme (including accrued rights which relate to additional voluntary contributions under the scheme) exclusive of any lump sum paid in accordance with subsection (3)(f), and B is the amount or value of assets which the trustees, administrators or other person charged with the management of the scheme (in this section referred to as ‘the trustees’) would, if the assumptions in paragraph (b) were made, be required, in accordance with section 784C, to transfer to an approved minimum retirement fund held in the name of the relevant individual or to apply in purchasing an annuity payable to the relevant individual with effect from the date of the exercise of the option.”, (b) in section 772(3A) by inserting the following after paragraph (a): “(aa) In the case of a retirement benefits scheme that is a defined benefit arrangement within the meaning of section 787O(1), paragraph (a) shall, with any necessary modifications, apply in relation to an individual entitled to a pension under the scheme (other than a proprietary director of a company to which the scheme relates) as if— (i) the reference in that paragraph to any relevant individual entitled to a pension under the scheme were a reference to any individual entitled to a pension under the scheme who is an individual entitled to rights arising from additional voluntary contributions to the scheme, and (ii) A in the formula in that paragraph was the amount equal to the value of the individual’s accrued rights under the scheme which relate to additional voluntary contributions paid by that individual exclusive of any part of that amount paid by way of a lump sum in accordance with subsection (3)(f) in conjunction with the scheme rules.

(ab) (i) In this paragraph ‘deferred annuity option’ means the option provided to an individual who is a member of a retirement benefits scheme to defer, in accordance with Revenue e-Brief No. 65/08 entitled ‘Deferral of Annuity Purchase’ issued by the Revenue Commissioners on 22 December 2008, the purchase of an annuity from a company carrying on the business of granting annuities on human life. (ii) An individual entitled to a pension under a retirement benefits scheme approved by the Revenue Commissioners before the date of passing of the Finance Act 2011 who, before that date, has exercised a deferred annuity option may opt in accordance with paragraph (a) within the period of one month from that date, where on or after that date the rules of the scheme are altered to enable such an option. (iii) For the purposes of this paragraph, where an individual has exercised a deferred annuity option, the purchase of the annuity may be further deferred for a period of one month from the date of passing of the Finance Act 2011.”, (c) in section 772(3B)(a)(ii) by deleting “and”, (d) in section 772(3B)(a) by inserting the following after subparagraph (ii): “(iia) in the case of an individual referred to in subsection (3A)(ab)(ii) (in this paragraph referred to as the ‘first-mentioned individual’)— (I) the reference in subsection (2)(ii) of section 784C to an amount equivalent to the amount determined by the formula in that subsection were a reference to an amount equal to €63,500, (II) the reference in subsection (4)(a) of section 784C to specified income per annum of an amount equal to the amount determined by the formula in that subsection were a reference to specified income per annum of €12,700, and (III) the reference in subsection (6A) of section 784C to the individual were a reference to the first-mentioned individual and the reference in that subsection to the transfer, before the date of passing of the Finance Act 2011, of the amount referred to as B in the formula in section 784(2A) to an approved minimum retirement fund in respect of the individual, were a reference to the transfer, within the period of time referred to in subsection (3A)(ab)(ii), of the amount referred to as B in the formula in subsection (3A)(a) to an approved minimum retirement fund in respect of the first-mentioned individual.”, and (e) in section 772(3B)(b) by substituting “other than in the case of an individual referred to in subsection (3A)(aa)” for “in the case of a proprietary director”.

(c) dies, the approved minimum retirement fund shall, thereupon, become an approved retirement fund and section 784A, subsections (1) and (5) of section 784B and section 784E shall apply accordingly.”, and (g) in section 784C by inserting the following after subsection (6): “(6A) Where before the date of passing of the Finance Act 2011, the individual referred to in subsection (2) has exercised an option in accordance with section 784(2A) and the person with whom the annuity contract is made has, before that date, transferred the amount referred to as B in the formula in that section to an approved minimum retirement fund in respect of that individual, subsection (6) shall apply for the period of 3 years from the date of passing of the Finance Act 2011 as if the following paragraph were substituted for paragraph (b) of that subsection: ‘(b) is in receipt of specified income of €12,700 at any time in the period of 3 years from the date of passing of the Finance Act 2011, or’.”.

(h) in section 787O(2) by deleting paragraphs (c) and (d), (i) in section 787O(5)(b) by substituting “7 December 2005” for “specified date” in each place, (j) in section 787P by substituting the following for subsection (1): “(1) An individual’s maximum tax-relieved pension fund shall not exceed— (a) the standard fund threshold, or (b) the personal fund threshold, where— (i) the condition set out in subsection (2) is met and the Revenue Commissioners have issued a certificate in accordance with subsection (5) or a revised certificate in accordance with subsection (6), or (ii) the Revenue Commissioners have, before the specified date, issued a certificate in accordance with subsection (5).”, (k) in section 787P(5) by substituting “Subject to subsection (6), the Revenue Commissioners” for “The Revenue Commissioners”, (l) in section 787P(5) by substituting the following for all of the words from “shall, on being satisfied” to the end of the provision: “shall, within 30 days of receipt of the notification or, as the case may be, the late notification, or such longer time as they may require for the purposes of this subsection, issue a certificate to the individual stating the amount of the personal fund threshold.”, (m) in section 787P by inserting the following after subsection (5): “(6) Notwithstanding subsection (5), the Revenue Commissioners may at any time withdraw a certificate issued in accordance with that subsection (in this subsection referred to as the ‘first-mentioned certificate’) and issue a revised certificate if, following the issue of the first-mentioned certificate, the Commissioners are not satisfied that the calculation of the personal fund threshold contained in the notification referred to in subsection (2) or, as the case may be, the late notification referred to in subsection (4) was correct.”, (n) in section 787Q(1) by substituting “7 December 2005” for “the specified date”, (o) in section 787R by substituting the following for subsection (2): “(2) The persons liable for income tax charged under subsection (1) shall be the administrator of the relevant pension arrangement under which the benefit crystallisation event arises and the individual in relation to whom the benefit crystallisation event occurs and their liability shall be joint and several.”, (p) in section 787R(4)— (i) by deleting “on or after the date of passing of the Finance Act 2006 ”, (ii) in paragraph (b) by substituting “7 December 2005” for “the specified date”, and (iii) in paragraph (d) by inserting “whether issued before or after the specified date, or, as the case may be, a copy of the revised certificate issued by the Commissioners under section 787P(6),” after “under section 787P(5),”,

(q) in section 787S by substituting the following for subsection (1): “(1) The administrator of a relevant pension arrangement shall, within 3 months of the end of the month in which the benefit crystallisation event giving rise to the chargeable excess occurs, make a return to the Collector-General which shall contain— (a) the name and address of the administrator, (b) the name, address and PPS Number of the individual in relation to whom the benefit crystallisation event has occurred, (c) details of the relevant pension arrangement under which the benefit crystallisation event giving rise to the chargeable excess has occurred, (d) the amount of, and the basis of calculation of, the chargeable excess arising in respect of the benefit crystallisation event, and (e) details of the tax which the administrator is required to account for in relation to the chargeable excess.”, (r) in section 787S by deleting subsection (2), and (s) in section 787S(7)(b) by substituting “0.0219 per cent” for “0.0273 per cent”.

790AA.— (1) (a) In this section— ‘administrator’, in relation to a relevant pension arrangement, means the person or persons having the management of the arrangement and, in particular, but without prejudice to the generality of the foregoing, references to the administrator of a relevant pension arrangement include— (i) an administrator within the meaning of section 770(1), (ii) a person mentioned in section 784, lawfully carrying on the business of granting annuities on human life, including the appointed person mentioned in section 784(4A)(ii), and (iii) a PRSA administrator within the meaning of section 787A(1); ‘excess lump sum’ shall be construed in accordance with paragraph (e); ‘relevant pension arrangement’ means any one or more of the following— (i) a retirement benefits scheme, within the meaning of section 771, approved by the Revenue Commissioners for the purposes of Chapter 1, (ii) an annuity contract or a trust scheme or part of a trust scheme approved by the Revenue Commissioners under section 784, (iii) a PRSA contract, within the meaning of section 787A, in respect of a PRSA product, within the meaning of that section, (iv) a qualifying overseas pension plan within the meaning of Chapter 2B, (v) a public service pension scheme within the meaning of section 1 of the Public Service Superannuation (Miscellaneous Provisions) Act 2004 , (vi) a statutory scheme, within the meaning of section 770(1), other than a public service pension scheme referred to in paragraph (v); ‘specified date’ means 1 January 2011; ‘standard chargeable amount’ means the amount equivalent to the amount determined by the formula— (SFT)— TFA 4 where— SFT is the standard fund threshold, within the meaning of section 787O(1), for the year of assessment in which the lump sum is paid, and TFA is the tax free amount; ‘standard rate’ means the standard rate of income tax in force at the time the lump sum is paid; ‘tax free amount’ means €200,000; ‘tax year’ means a year of assessment within the meaning of the Tax Acts. (b) (i) For the purposes of this section, a reference to a lump sum is a reference to a lump sum that is paid to an individual under the rules of a relevant pension arrangement by means of commutation of part of a pension or of part of an annuity or otherwise. (ii) Without prejudice to the generality of subparagraph (i), the reference in that subparagraph to the commutation of part of a pension or of part of an annuity shall, in a case where an individual opts in accordance with section 772(3A) or, as the case may be, section 784(2A), be construed as a reference to the commutation of part of the pension or, as the case may be, part of the annuity which would, but for the exercise of that option, be payable to the individual.

(c) For the purposes of this section references to a lump sum that is paid to an individual include references to a lump sum that is obtained by, given to, or made available to, an individual and references to a lump sum which was, or has, or had been paid to an individual shall be construed accordingly. (d) For the purposes of this section— (i) a lump sum (in this subsection referred to as the ‘first-mentioned lump sum’) shall be treated as paid before another lump sum (in this subsection referred to as the ‘second-mentioned lump sum’) if the first-mentioned lump sum is paid before the second-mentioned lump sum on the same day, and (ii) a lump sum shall not be treated as paid at the same time as one or more than one other lump sum and, where but for this subsection they would be so treated, the individual to whom the lump sums are paid shall decide on the order in which they are to be deemed to be paid. (e) For the purposes of this section the excess lump sum, if any, in respect of a lump sum that is paid to an individual on or after the specified date (in this paragraph referred to as the ‘current lump sum’) shall be— (i) where no other lump sum has been paid to the individual on or after 7 December 2005, the amount by which the current lump sum exceeds the tax free amount, and (ii) where, before the current lump sum was paid, one or more than one lump sum had been paid to the individual on or after 7 December 2005 (in this section referred to as the ‘earlier lump sums’), then— (I) where the amount of the earlier lump sums is less than the tax free amount, the amount by which the aggregate of the amounts of the earlier lump sums and the current lump sum exceeds the tax free amount, and (II) where the amount of the earlier lump sums is equal to or greater than the tax free amount, the amount of the current lump sum.

Chapter 4

Income Tax, Corporation Tax and Capital Gains Tax.

Relevant contracts tax.

20.— (1) The Principal Act is amended— (a) in section 520(1), in the definition of “relevant payment”, by substituting the following for paragraph (ii): “(ii) relevant payments as defined for the purpose of Chapter 2 of this Part,”, (b) in section 525(6) by substituting “that Chapter” for “section 531(1)”, (c) in section 530(1) by inserting the following after the definition of “certified subcontractor”: “ ‘chargeable period’ has the same meaning as in section 321(2);”, (d) in section 530(1) by inserting the following after the definition of “the contractor”: “ ‘deducted tax’ has the meaning given to it in section 530P; ‘deduction authorisation’ has the meaning given to it in section 530D; ‘deduction summary’, in relation to a return period, means a statement issued by the Revenue Commissioners to a registered principal setting out, in summary form, the details contained in deduction authorisations issued to that principal during that return period, adjusted, where adjustments are required, in accordance with regulations made under this Chapter, and includes a statement that no such deduction authorisations were issued, where that was the case;”, (e) in section 530(1) by inserting the following after the definition of “director”: “ ‘due date’, in relation to a return period, means— (a) the day that is 14 days after the end of that return period, or (b) the day that is 23 days after the end of that return period, in a case where the return for that period is made by electronic means in accordance with Chapter 6 of Part 38 and the remittance of the amount of tax that the person was liable to remit to the Collector-General under this Chapter in respect of that period is made by such electronic means as are required by the Revenue Commissioners, if the return and the remittance concerned are made by that day; ‘electronic means’ has the same meaning as in section 917EA(1);”, (f) in section 530(1) by inserting the following after the definition of “qualifying period”: “ ‘registered principal’ means a principal included in a register of principals kept and maintained by the Revenue Commissioners for the purposes of this Chapter;”, (g) in section 530(1) by inserting the following after the definition of “relevant operations”: “ ‘relevant payment’ means a payment made by a principal to whom section 530A applies in respect of a relevant contract;”, (h) in the definition of ‘return period’, by inserting “, or where no such period is specified, an income tax month” after “Collector-General”

(i) in section 530(1) by inserting the following after the definition of ‘return period’: “ ‘Revenue officer’ means any officer of the Revenue Commissioners;”, (j) in section 530(1) by substituting the following for the definition of “subcontractor”: “ ‘subcontractor’ means the contractor under a relevant contract where the principal under that contract is a person to whom section 530A applies;”, (k) by inserting the following after section 530: “Principal to whom relevant contracts tax applies.

530A.— (1) Subject to subsections (2) and (3), this section applies to a principal who is— (a) in respect of the whole or any part of a relevant contract, the contractor under another relevant contract, (b) a person— (i) carrying on a business that includes the erection of buildings or the development of land (within the meaning of section 639(1)) or the manufacture, treatment or extraction of materials for use, whether used or not, in construction operations, (ii) carrying on a business of meat processing operations in an establishment approved and inspected in accordance with the European Communities (Fresh Meat) Regulations, 1997 ( S.I. No. 434 of 1997 ) or, as the case may be, the European Communities (Fresh Poultry-meat) Regulations, 1996 ( S.I. No. 3 of 1996 ), or (iii) carrying on a business that includes the processing (including cutting and preserving) of wood from thinned or felled trees in sawmills or other like premises or the supply of thinned or felled trees for such processing, (c) a person connected with a company carrying on a business mentioned in paragraph (b), (d) a local authority, a public utility society (within the meaning of section 2 of the Housing Act 1966 ) or a body referred to in subparagraph (i) or (ii) of section 12(2)(a) of that Act or section 19 or 45 of that Act, (e) a Minister of the Government, (f) any board or body established by or under statute or any board or body established by or under royal charter and funded wholly or mainly out of moneys provided by the Oireachtas, or (g) a person who carries on any gas, water, electricity, hydraulic power, dock, canal or railway undertaking.

Notification of contract by principal.

530B.— (1) Upon entering into a relevant contract, and in a case where subsection (2) applies, a principal to whom section 530A applies shall provide to the Revenue Commissioners— (a) information in relation to— (i) the identity of the subcontractor, (ii) the estimated contract value, (iii) the estimated contract duration, and (iv) the location or locations at which relevant operations under the contract are to take place, and (b) a declaration stating that the principal is satisfied, if that is the case having regard to guidelines published by the Revenue Commissioners as to the distinction between contracts of employment and relevant contracts, that the named subcontractor is not performing the contract or any part of it as an employee of the principal.

Notification of relevant payment by principal.

530C.— (1) Immediately before a principal makes a relevant payment to a subcontractor, the principal shall notify the Revenue Commissioners of his or her intention to make such a payment to the subcontractor and of the amount of that payment.

Deduction authorisation.