Finance Act, 1991

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Chapter VI

Extension of Self Assessment to Capital Gains Tax and Certain Other Matters

Amendment of section 9 (interpretation (Chapter II)) of Finance Act, 1988.

45.— Section 9 (as amended by section 23 of the Finance Act, 1990 ) of the Finance Act, 1988 , is hereby amended—

(a) in subsection (1)—

(i) by the insertion after “ Income Tax Act, 1967 ”, in the definition of “appeal”, of “, or, as respects capital gains tax, an appeal under paragraph 8 of the Fourth Schedule to the Capital Gains Tax Act, 1975 ”, and the said definition, as so amended, is set out in the Table to this section,

(ii) by the insertion after “profits”, in paragraph (a) of the definition of “appropriate inspector”, of “or chargeable gains”, and the said definition, as so amended, is set out in the Table to this section,

(iii) by the insertion after “Corporation Tax Acts”, in the definition of “assessment”, of “or the Capital Gains Tax Acts,”, and the said definition, as so amended, is set out in the Table to this section,

(iv) by the insertion after the definition of “assessment” of the following definition:

“‘chargeable gain’ has the same meaning as in section 11 (2) of the Capital Gains Tax Act, 1975 ;”,

(v) by the insertion after “whether on his own account or on account of some other person, but”, in the definition of “chargeable person”, of “as respects income tax,”, and the said definition, as so amended, is set out in the Table to this section,

(vi) by the substitution of the following definition for the definition of “relevant chargeable period”:

“‘relevant chargeable period’ means—

(a) (i) where the chargeable period is a year of assessment for income tax, the year 1988-89 and any subsequent year of assessment,

(ii) where the chargeable period is a year of assessment for capital gains tax, the year 1990-91 and any subsequent year of assessment, or

(b) where the chargeable period is an accounting period of a company, an accounting period ending on or after the 1st day of October, 1989.”,

(vii) by the insertion of the following proviso after paragraph (b) of the definition of “specified return date for the chargeable period”:

“Provided that where an accounting period of a company ends on or before the date of commencement of the winding up of the company and the specified return date in respect of that accounting period would, but for this proviso, fall on a date after the date of commencement of the said winding up but not within a period of 3 months after that date, the specified return date for that accounting period of the company shall be the date which falls 3 months after the date of commencement of the winding up.”,

(viii) by the substitution for the definition of “tax”, of the following definition:

“‘tax’ means income tax, corporation tax, or capital gains tax, as the case may be.”,

and

(b) by the deletion of subsection (4).

TABLE

“appeal” means an appeal under section 416 of the Income Tax Act, 1967 , or, as respects capital gains tax, an appeal under paragraph 8 of the Fourth Schedule to the Capital Gains Tax Act, 1975 ;

“appropriate inspector” means, in relation to a chargeable person—

(a) the inspector who has last given notice in writing to the chargeable person that he is the inspector to whom the chargeable person is required to deliver a return or statement of income or profits or chargeable gains,

(b) in the absence of such an inspector as is referred to in paragraph (a), the inspector to whom it is customary for the chargeable person to deliver such return or statement, or

(c) in the absence of such an inspector as is referred to in paragraphs (a) and (b), the inspector of returns;

“assessment” means an assessment to tax made under the Income Tax Acts or the Corporation Tax Acts or the Capital Gains Tax Acts, as the case may be;

“chargeable person” means, as respects a chargeable period, a person who is chargeable to tax for that period, whether on his own account or on account of some other person, but, as respects income tax, does not include a person—

(a) whose total income for the chargeable period consists solely of emoluments to which Chapter IV of Part V of the Income Tax Act, 1967 , applies, and for this purpose a person whose total income for the chargeable period, other than emoluments to which the said Chapter IV applies, is deducted in determining the amount of his tax-free allowances for the chargeable period by virtue of Regulation 10 (1) (b) of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 ), shall be deemed for that chargeable period to be a person whose total income consists solely of emoluments to which the said Chapter IV applies,

(b) who, for the chargeable period, has been exempted by an inspector from the requirements of section 10 by reason of a notice given under subsection (6) of that section, or

(c) who is chargeable to tax for the chargeable period by reason only of the provisions of section 433 or 434 of the Income Tax Act, 1967 , or section 151 of the Corporation Tax Act, 1976 .