Capital Allowances (holiday cottage)
10/10/2000
Query
An individual incurs expenditure on the construction of a holiday cottage and leases it to an operator. If the operator rather than the individual registers the cottage in the Register Of Holiday Cottages maintained by Bord Fáilte will the building be regarded as an industrial building within the meaning of section 268.
Decision
The section is silent on who actually registers the property. Therefore an operator may register properties owned by other parties.
Income Tax
Section 268, Taxes Consolidation Act, 1997
Origin: Office of the Chief Inspector of Taxes
File ref:00gm114