Town Renewal Scheme
Update on the Department of Environment, Heritage and Local Government’s
Town Renewal Scheme 2000.
In accordance with the provisions of the Finance Act 2006 and the associated
guidance outlined in Circular Letter UR 1/06 issued by the D.o.E.H.&.L.G. on May
18th 2006; Wicklow County Council wishes to advise developers of ‘qualifying
areas’ under the provisions of the Town Renewal Scheme 2000 of the
following:
- Works that potentially constitute ‘qualifying expenditure’ under this
Scheme, where it is proposed to seek tax relief in relation to such works,
must be completed by July 31st 2008. While works may continue after 31st
July 2008, expenditure that is incurred after that date will not qualify for
tax relief.
- The provisions of the Finance Act 2006 facilitates a sliding scale for
tax relief in respect of developments in ‘qualifying areas’ of the T.R.S. as
follows:
- Full relief will (subject to meeting all other requirements of the
T.R.S.) be available for relevant qualifying expenditure that was
incurred up to the end of December 2006.
- 75% of the normal relief will (subject to meeting all other
requirements of the T.R.S.) apply for qualifying expenditure in the
period January 2007 to the end of December 2007.
- 50% of the normal relief will (subject to meeting all other
requirements of the T.R.S.) apply for qualifying expenditure in the
period January 2008 to the end of July 2008.
- In addition the Finance Act 2006, also required that actual
construction, refurbishment or conversion works in respect of all qualifying
developments to the value of 15% of the overall projected costs, under the
T.R.S., had to carried out by December 31st 2006.
For more information in relation to the tax relief provisions of the Town
Renewal Scheme 2000, interested parties are advised to visit the website of the
Office of the Revenue Commissioners;
www.Revenue.ie wherein
guideline documents in relation to the T.R.S. (numbers 20, 21 and 24) are
available under the sub-section entitled ‘Publications/Technical Guidelines’. A
document entitled ‘A Guide to the Town Renewal Scheme, is also available on this
latter website under a sub-section entitled ‘Leaflets and
Guides/Individuals/Income Tax’.
Applications to Wicklow County Council for the obtainment of a Certificate of
Consistency (with the objectives of the relevant Town Renewal Plan) in
accordance with the provisions of the Town Renewal Act 2000 may be submitted to
Wicklow County Council in the aftermath of July 31st 2008. At present, there is
no specific ‘closing date requirement’ in place for the submission of
applications for the attainment of such a certificate. A certificate of
consistency is required before tax relief in respect of ‘qualifying expenditure’
under the T.R.S. can be claimed.
Parties intending to submit an application for a Certificate of Consistency
to Wicklow County Council, may contact the Planning Department Wicklow County
Council if they are seeking guidance information in respect of the particulars
required for inclusion in any such applications, by the Council.
Contact details:
plandev@wicklowcoco.ie
Tel: 0404 20148
Fax: 0404 69462
With respect to residential developments under the T.R.S. 2000, it is
necessary for the developers of such projects to obtain a further Certification
from the Department of the Environment, Heritage and Local Government (Guarantee
Section, Ballina, Co. Mayo) before all the conditions required for qualification
for tax relief under this scheme are finalised. The titles of such certificates
are; a Certificates of Reasonable Cost and a Certificates of Compliance
respectively. Copies of the applications forms for these certificates are
available from Wicklow County Council.
In conclusion, the five County Wicklow towns that are designated under the
Town Renewal Scheme 2000 are; Baltinglass, Carnew, Dunlavin, Rathdrum, and
Tinahely.
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