Capital Allowances -Bord Fáilte
11/06/1999
Query
Can capital allowances be claimed on the office comprised in the premises which is registered by Bord Fáilte under the Registration and Renewal of Holiday Cottages regulations.
Decision
Section 268(3) Taxes Consolidation Act 1997 provides that a building in use as a holiday cottage and comprised in premises registered in any register of holiday cottages established by Bord Fáilte Éireann shall be deemed to be a building in use for the purposes of the trade of hotel-keeping. Therefore only the building used as a holiday cottage qualifies for allowances and not the office.
Income Tax
Section 268(3), Taxes Consolidation Act, 1997
Origin: Office of the Chief Inspector of Taxes
File ref:99gm068