Seaside Resort Relief
Who can Claim?
An individual who purchases or refurbishes a holiday cottage, apartment or other self-catering accommodation in a qualifying tourist area (listed under Section 9 Tourism Traffic Act 1957.)
Conditions to Qualify
- Hotel, Holiday Camp/Cottages etc. must be sited wholly within a qualifying resort.
- Must be purchased in the qualifying period.
- Must be in use for the operation of one/more qualifying tourism facilities.
- Must be used as a tourism accommodation facility.
Relief Due
Owner Occupier
- Accelerated Allowances
- Initial Allowance - 50% of costs allowable in year 1
- Free Depreciation up to 75% of costs at discretion of claimant
- Writing down allowance 5% for balance of construction or refurbishment costs.
Lessors
- Accelerated Allowances
- Initial Allowance 50% of costs allowable in year 1
- Writing down allowance 5% for balance of construction/refurbishment costs.
Note: Ring Fencing of capital allowances applies from different dates, depending on type of accommodation and the date obtained.
This relief ceased December 1999.
Documentation Required
Written Claim.
Certificate from Bord Failte.
Reference Material
Tax Briefing Issue 47 page 20 (PDF, 829KB)
