372AAD. Residential accommodation: capital allowances to lessors in respect of eligible expenditure incurred on the conversion and refurbishment of relevant houses.

(1) In this section -

'conversion' in relation to a building, structure or house, has the meaning given to it in section 372AAB;

'eligible expenditure', in relation to capital expenditure incurred in the relevant qualifying period on the conversion or the refurbishment of a special qualifying premises, and subject to subsection (2), means, notwithstanding section 279, the lesser of -

(a) the aggregate of all such capital expenditure, and

(b)

(i) where the person who incurred the capital expenditure is a company, €800,000, or

(ii) where the person who incurred the capital expenditure is an individual, €400,000,

and, for the purposes of giving relief under this section, any reference to expenditure being incurred shall include a reference to expenditure deemed under any provision of Part 9 to be incurred;

'house' has the meaning given to it in section 372AAB;

'letter of certification' has the meaning given to it in section 372AAB;

'property developer' has the meaning given to it in s

…