LegalizeFinance Act , 1975
(6) For the purposes of computing the aggregate amount of the deductions to which the transferor company and the transferee company treated as one by virtue of subparagraph (2) are entitled under section 31 pursuant to this paragraph and the apportionment of that amount between them, the transferee company shall be regarded as carrying on a trade.
4.(1) A company shall not be entitled to a deduction under section 31 for an accounting period if that accounting period ends by virtue of the company—
(a) ceasing to carry on a trade; or
(b) ceasing to be resident in the State; or
(c) ceasing to be within the charge to income tax under Case I of Schedule D.
(2) In any case where a company's increase in stock value in an accounting period falls to be determined in accordance with paragraph 2 (1), subparagraph (1) shall have effect as if the reference therein to the company's accounting period were a reference to any of the accounting periods comprised in the company's reference period.
(1) Subject to the following provisions of this paragraph, where a company claims a deduction under section 31 and, immediately before the beginning of an accounting period, the company was not carrying on the trade to which the claim relates, then, unless—
(a) the company acquired the initial trading stock of that trade on a sale or transfer from another person on that person's ceasing to carry on that trade, and
(b) the stock so acquired is, or is included in, the company's trading stock as valued at the beginning of the accounting period,
the company shall be treated for the purposes of section 31 and the preceding provisions of this Schedule as having at the beginning of the accounting period trading stock of such value as appears to the inspector to be reasonable and just.
(2) In determining, for the purposes specified in subparagraph (1), the value of trading stock to be attributed to a company at the beginning of the accounting period, the inspector shall have regard to all the relevant circumstances of the case and, in particular—
(a) to movements during the company's accounting period in the costs of items of a kind comprised in the company's trading stock during that period; and
(b) to changes during that period in the volume of the trade in question carried on by the company.
(3) The Appeal Commissioners dealing with an appeal from the decision of an inspector on a claim in a case where, in accordance with subparagraph (1), the inspector has attributed to a company at the beginning of an accounting period trading stock of a particular value shall, in hearing and determining the appeal, in so far as it relates to the value of the trading stock to be so attributed, determine such value as appears to them to be reasonable and just, having regard to those factors to which the inspector is required to have regard by virtue of subparagraph (2).
(4) In any case where paragraph 1 (1) applies to a company's accounting period, for any reference in subparagraphs (1) to (3) to that accounting period there shall be substituted a reference to the reference period.
(1) In this Schedule “period of account”, in relation to a company, means a period for which the accounts of the company have been made up, and “accounting period”, “company”, “trade”, “trading profits”, and “trading stock”, have the same meanings, respectively, as in section 31.
(2) In any case where a company's accounting period or reference period consists of a number of complete months and a fraction of a month, any reference in the preceding provisions of this Schedule to the number of months in the period shall be construed as including that fraction of a month (and in any case where any such period is less than one month any such reference shall be construed as a reference to that fraction of a month of which the period consists).
FOURTH SCHEDULE Stamp Duties on Instruments
| (1) Where the amount or value of the consideration for the sale does not exceed one thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds one thousand pounds | Exempt | |
|---|---|---|
| (2) Where the amount or value of the consideration for the sale exceeds one thousand pounds but does not exceed two thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds two thousand pounds:— | ||
| For every £50, or fractional part of £50, of the consideration | 25p | |
| (3) Where the amount or value of the consideration for the sale exceeds two thousand pounds but does not exceed six thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds six thousand pounds:— | ||
| For every £50, or fractional part of £50, of the consideration | 50p | |
| (4) Where in the case of a conveyance or transfer on sale or in the case of a conveyance or transfer operating as a voluntary disposition inter vivos the consideration for the sale or the value of the property exceeds six thousand pounds and the instrument contains a certificate by the party to whom the property is being conveyed or transferred to the effect that the person becoming entitled to the entire beneficial interest in the property (or, where more than one person becomes entitled to a beneficial interest therein, each of them) is related to the person or each of the persons immediately theretofore entitled to the entire beneficial interest in the property in one or other of the following ways, that is to say, as a lineal descendant, parent, grandparent, step-parent, husband or wife, brother or sister of a parent or brother or sister, or lineal descendant of a parent, husband or wife or brother or sister:— | ||
| For every £50, or fractional part of £50, of the consideration or of the value | 50p | |
| (5) Where the amount or value of the consideration for the sale exceeds six thousand pounds but does not exceed seven thousand five hundred pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds seven thousand five hundred pounds:— | ||
| If the amount or value of the consideration— | ||
| Exceeds £6,000 and does not exceed £6,250 | £70 | |
| ”£6,250””””£6,500 | £80 | |
| ”£6,500””””£6,750 | £90 | |
| ”£6,750””””£7,000 | £100 | |
| ”£7,000””””£7,250 | £100 | |
| ”£7,250””””£7,500 | £120 | |
| (6) Where the amount or value of the consideration for the sale exceeds seven thousand five hundred pounds but does not exceed ten thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds ten thousand pounds:— | ||
| For every £50, or fractional part of £50, of the consideration | £100 | |
| (7) Where the amount or value of the consideration for the sale exceeds ten thousand pounds but does not exceed twenty thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds twenty thousand pounds:— | ||
| For every £50, or fractional part of £50, of the consideration | £150 | |
| (8) Where the amount or value of the consideration for the sale exceeds twenty thousand pounds but does not exceed fifty thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds fifty thousand pounds:— | ||
| For every £50, or fractional part of £50, of the consideration | £200 | |
| (9) Of any other kind whatsoever not hereinbefore described:— | ||
| For every £50, or fractional part of £50, of the amount or value of the consideration for the sale, or, in the case of a conveyance or transfer operating as a voluntary disposition inter vivos, of the value of the property conveyed or transferred | £3.00 | |
| Part II | ||
| (3) For any other definite term or for any indefinite term of any lands, tenements, or heritable subjects— | ||
| Where the consideration, or any part of the consideration (other than rent), moving either to the lessor or to any other person, consists of any money, stock, or security, and— | ||
| (a) The amount or value of such consideration does not exceed one thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds one thousand pounds | Exempt | |
| (b) The amount or value of such consideration exceeds one thousand pounds but does not exceed two thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds two thousand pounds:— | ||
| For every £50, or fractional part of £50, of the amount or value | 25p | |
| (c) The amount or value of such consideration exceeds two thousand pounds but does not exceed six thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds six thousand pounds:— | ||
| For every £50, or fractional part of £50, of the amount or value | 50p | |
| (d) The amount or value of such consideration exceeds six thousand pounds but does not exceed seven thousand five hundred pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds seven thousand five hundred pounds:— | ||
| If the amount or value of the consideration— | ||
| Exceeds £6,000 and does not exceed £6,250 | £70 | |
| ”£6,250””””£6,500 | £80 | |
| ”£6,500””””£6,750 | £90 | |
| ”£6,750””””£7,000 | £100 | |
| ”£7,000””””£7,250 | £110 | |
| ”£7,250””””£7,500 | £120 | |
| (e) The amount or value of such consideration exceeds seven thousand five hundred pounds but does not exceed ten thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds ten thousand pounds:— | ||
| For every £50, or fractional part of £50, of the amount or value | £100 | |
| (f) The amount or value of such consideration exceeds ten thousand pounds but does not exceed twenty thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds twenty thousand pounds:— | ||
| For every £50, or fractional part of £50, of the amount or value | £150 | |
| (g) The amount or value of such consideration exceeds twenty thousand pounds but does not exceed fifty thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds fifty thousand pounds:— | ||
| For every £50, or fractional part of £50, of the amount or value | £200 | |
| (h) The case is of any other kind whatsoever not hereinbefore described:— | ||
| For every £50, or fractional part of £50, of the amount or value | £300 | |
| Where the consideration or any part of the consideration is any rent: In respect of such consideration: If the rent, whether reserved as a yearly rent or otherwise, is at a rate or average rate: | ||
| If the term does not exceed 35 years, or is indefinite. | If the term exceeds 35 years, but does not exceed 100 years. | |
| --- | --- | --- |
| Not exceeding £5 per annum | 5p | 30p |
| Exceeding— | ||
| £5 and not exceeding £10 | 10p | 60p |
| £10”””£15 | 15p | 90p |
| £15”””£20 | 20p | £120 |
| £20”””£25 | 25p | £150 |
| £25”””£30 | 50p | £300 |
| £30”””£35 | 75p | £450 |
| £35”””£40 | £100 | £600 |
| £100 | ||
| For every full sum of £50, and also for any fractional part of £50 thereof | 50p | £300 |
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