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Finance (No. 2) Act 2008 (No. 25)Introductory TextActs Referred toPart 1 Levies, Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-45)Chapter 1 Interpretation (s. 1)1. Interpretation (Part 1).Chapter 2 Levies (ss. 2-3)2. Income levy.3. Parking levy in urban areas.Chapter 3 Income Tax (ss. 4-16)4. Amendment of section 15 (rate of charge) of Principal Act.5. Amendment of section 122 (preferential loan arrangements) of Principal Act.6. Benefit-in-kind: emission based calculations.7. Benefit-in-kind charge: relief for bicycles.8. Amendment of section 469 (relief for health expenses) of Principal Act.9. Employee share schemes: withdrawal of approval.10. Amendment of section 128 (tax treatment of directors of companies and employees granted rights to acquire shares or other assets) of Principal Act.11. Amendment of schedule 29 (provisions referred to in sections 1052, 1053 and 1054) to Principal Act.12. Amendment of Chapter 5 (miscellaneous charging provisions) of Part 5 of Principal Act.13. Repayment of tax where earnings not remitted.14. Relief for interest paid on certain home loans.15. Amendment of section 819 (residence) of Principal Act.16. Retirement benefits.Chapter 4 Income Tax, Corporation Tax and Capital Gains Tax (ss. 17-30)17. Amendment of section 659 (farming: allowances for capital expenditure on the construction of farm buildings, etc., for control of pollution) of Principal Act.18. Amendment of Chapter 2 (farming: relief for increase in stock values) of Part 23 of Principal Act.19. Amendment of section 279 (purchases of certain buildings or structures) of Principal Act.20. Capital allowances for qualifying specialist palliative care units.21. Scheme to facilitate removal and relocation of certain industrial facilities.22. Amendment of section 268 (meaning of "industrial building or structure") of Principal Act.23. Amendment of section 81 (general rule as to deductions) of Principal Act.24. Amendment of section 81B (equalisation reserves for credit insurance and reinsurance business of companies) of Principal Act.25. Amendment of section 198 (certain interest not to be chargeable) of Principal Act.26. Amendment of Part 8 (annual payments, charges and interest) of Principal Act.27. Life assurance policies and investment funds.28. Amendment of section 481 (relief for investment in films) of Principal Act.29. Amendment of section 503 (claims) of Principal Act.30. Amendment of section 768 (allowance for know-how) of Principal Act.Chapter 5 Corporation Tax (ss. 31-40)31. Relief from tax for certain start-up companies.32. Amendment of section 448 (relief from corporation tax) of Principal Act.33. Relevant territory.34. Amendment of section 766 (tax credit for research and development expenditure) of Principal Act.35. Amendment of section 766A (tax credit on expenditure on buildings or structures used for research and development) of Principal Act.36. Limitation of tax credits to be paid under section 766 or 766A of Principal Act.37. Acceleration of wear and tear allowances for certain energy-efficient equipment.38. Preliminary tax.39. Amendment of section 239 (income tax on payments by resident companies) of Principal Act.40. Amendment of Schedule 4 (exemption of specified non-commercial state sponsored bodies from certain tax provisions) to Principal Act.Chapter 6 Capital Gains Tax (ss. 41-45)41. Tax treatment of certain venture fund managers.42. Amendment of section 29 (persons chargeable) of Principal Act.43. Amendment of section 549 (transactions between connected persons) of Principal Act.44. Capital gains: rate of charge.45. Treatment of certain disposals made by The Pharmaceutical Society of Ireland.Part 2 Excise (ss. 46-66)46. Amendment of Chapter 1 of Part 2 (consolidation and modernisation of general excise law) of Finance Act 2001.47. Rates of mineral oil tax.48. Amendment of Chapter 1 (mineral oil tax) of Part 2 of Finance Act 1999.49. Amendment of Chapter 1 (electricity tax) of Part 2 of Finance Act 2008.50. Rates of alcohol products tax.51. Amendment of section 78A (relief for small breweries) of Finance Act 2003.52. Rates of tobacco products tax.53. Amendment of section 67 (betting duty) of Finance Act 2002.54. Amendment of section 71 (payment of betting duty) of Finance Act 2002.55. Air travel tax.56. Amendment of section 7 (issue of bookmakers' licences) of Betting Act 1931.57. Repeals relating to excise la58. Wholesale dealers' licences.59. Increase in duties on certain liquor licences.60. Amendment of section 130 (interpretation) of Finance Act 1992.61. Amendment of section 131 (registration of vehicles by Revenue Commissioners) of Finance Act 1992.62. Amendment of section 132 (charge of excise duty) of Finance Act 1992.63. Amendment of section 134 (permanent reliefs) of Finance Act 1992.64. Amendment of section 135 (temporary exemption from registration) of Finance Act 1992.65. Amendment of section 135B (repayment of amounts in respect of vehicle registration tax in certain cases) of Finance Act 1992.66. Amendment of section 141 (regulations) of Finance Act 1992.Part 3 Value-Added Tax (ss. 67-77)67. Interpretation (Part 3).68. Amendment of section 3 (supply of goods) of Principal Act.69. Amendment of section 7A (option to tax lettings of immovable goods) of Principal Act.70. Amendment of section 7B (transitional measures: waiver of exemption) of Principal Act.71. Travel agent's margin scheme.72. Amendment of section 11 (rates of tax) of Principal Act.73. Amendment of section 12 (deduction for tax borne or paid) of Principal Act.74. Amendment of section 20 (refund of tax) of Principal Act.75. Amendment of section 32 (regulations) of Principal Act.76. Amendment of First Schedule to Principal Act.77. Amendment of Second Schedule to Principal Act.Part 4 Stamp Duties (ss. 78-87)78. Interpretation (Part 4).79. Electronic stamping of instruments: further matters.80. Amendment of section 5 (agreement as to payment of stamp duty on instruments) of Principal Act.81. Amendment of section 14 (penalty on stamping instruments after execution) of Principal Act.82. Land: special provisions.83. Amendment of section 34 (agreements in connection with, or in contemplation of, sale) of Principal Act.84. Amendment of section 81AA (transfers to young trained farmers) of Principal Act.85. Amendment of section 81C (further farm consolidation relief) of Principal Act.86. Amendment of Part 9 (levies) of Principal Act.87. Amendment of Schedule 1 to Principal Act.Part 5 Capital Acquisitions Tax (ss. 88-90)88. Interpretation (Part 5).89. Amendment of section 89 (provisions relating to agricultural property) of Principal Act.90. Capital acquisitions: rate of charge.Part 6 Miscellaneous (ss. 91-102)91. Interpretation (Part 6).92. Revenue powers.93. Returns in relation to settlements and trustees.94. Donations of heritage items and heritage property.95. Amendment of section 811A (transactions to avoid liability to tax: surcharge, interest and protective notification) of Principal Act.96. Miscellaneous amendments: incentive to pay and file electronically.97. Miscellaneous amendments relating to collection and recovery of tax.98. Miscellaneous amendments in relation to penalties.99. Miscellaneous technical amendments in relation to tax.100. Capital Services Redemption Account.101. Care and management of taxes and duties.102. Short title, construction and commencement.Schedule 1 Repeals Relating to Excise LawSchedule 2 Excise LicencesSchedule 3 Miscellaneous Amendments: Incentive to Pay and File Electronically (paras. 1-2)Schedule 4 Provisions Relating to Collection and Recovery of Tax (paras. 1-6)Schedule 5 Miscellaneous Amendments in Relation to Penalties (paras. 1-8)Schedule 5, Part 1 Amendment of Part 47 as respects Penalties (para. 1)Schedule 5, Part 2 Amendment of the Taxes Consolidation Act 1997 as respects penalties (para. 2)Schedule 5, Part 3 Value-Added Tax: Penalties (para. 3)Schedule 5, Part 4 Capital Acquisitions Tax: Penalties (para. 4)Schedule 5, Part 5 Stamp Duties (paras. 5-8)Schedule 5, Part 5, Chapter 1 Penalties (paras. 5-6)Schedule 5, Part 5, Chapter 2 Interest and Penalties (paras. 7-8)Schedule 6 Miscellaneous Technical Amendments in Relation to Tax (paras. 1-7)
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2020 - onwards
Version 4 of 4

6. Benefit-in-kind: emission based calculations.

(1) Section 121 of the Principal Act is amended -

(a) in subsection (1) in the definition of "business mileage for a year of assessment" by substituting "whole kilometres" for "whole miles",

(b) in subsection (3) -

(i) by deleting paragraph (c) for the year of assessment 2014 and subsequent years,

(ii) [deleted]

(c) in subsection (4) -

(i) in paragraph (a) by substituting "24,000 kilometres" for "15,000 miles",

(ii) in paragraph (c)(i) -

(I) by substituting "24,000" for "15,000" in each place where it occurs, and

(II) by substituting the following for the Table to that subsection -

"TABLE

Business mileage lower limit

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