Plant & Machinery

Expenditure incurred on or after 4 December 2002 on plant and machinery, fixtures and fittings etc, may be written off at 12.5% per annum on a straight line basis over an 8 year period (previously 20% per annum over 5 years).

Motor Vehicles

The annual allowance for motor vehicles (other than taxi and short-term hire vehicles) is 12.5% on a straight line basis for expenditure incurred on or after 4 December 2002 (previously 20% per annum on a straight line basis). The maximum qualifying cost of motor vehicles purchased on or after 4 December 2002 is €22,000 (with varying figures applying for prior years). The €22,000 restricted cost applies to both new and secondhand motor vehicles.

Industrial Buildings

An annual allowance of 4%, straight line, may be claimed in respect of expenditure on industrial buildings used for manufacturing purposes. Accelerated allowances are available in certain circumstances.

Hotels

For expenditure incurred on or after 4 December 2002 an allowance of 4% per annum over 25 years applies. However, a rate of 15% may apply where certain planning requirements were met by 31 December 2004 and the expenditure is
incurred by 31 July 2006. Certain large projects require EU approval.

Holiday Cottages

Capital allowances at 10% per annum for 10 years are available where certain planning requirements were met by 31 December 2004 and the expenditure is incurred by 31 July 2006.

Certain Rented Residential Accommodation

Capital allowances are available for refurbishment expenditure on multi-unit residential accommodation at a rate of 15% per annum on a straight line basis for years 1 to 6 and 10% in year 7.

Student Accommodation

The deadline for relief for incurring qualifying expenditure under this scheme is 31 July 2006 where a full planning application was received by a planning authority by 31 December 2004. Subject to some anti-avoidance rules, the relief takes the form of a 100% allowance against rental income in the first year the property is let.

Childcare Facilities

The annual allowance is 15% per annum on a straight line basis for years 1 to 6 and 10% in year 7. Exclusions apply in respect of property developers. 100% accelerated capital allowances are available to owner-occupiers and lessors.

Private Nursing Homes

Qualifying private nursing homes (including certain sheltered care accommodation) and qualifying private convalescent homes are eligible for annual allowances of 15% per annum on a straight line basis for years 1 to 6 and 10% in year 7.

Private Hospitals/Sports Imjury Clinic

Qualifying private hospitals and private sports injury clinics are eligible for annual allowances on a straight line basis of 15% per annum for years 1 to 6 and 10% in year 7. Relief may not be claimed by corporate investors, trusts, property developers or individuals involved in the operation or management of
the facility concerned.

Park & Ride Facilities

In the case of owner-occupiers, expenditure on qualifying park and ride facilities and related commercial premises is eligible for 100% accelerated allowances. Passive investors are entitled to claim allowances at a reduced rate of 50% in year 1 and 4% per annum thereafter. Residential property reliefs (“S.23” type and owner-occupier reliefs) are also available on residential accommodation located within qualifying park and ride facilities. The termination date of the qualifying period is 31 July 2006 where a full planning application was received by a planning authority by 31 December 2004. Certain exclusions apply in the case of property developers. Various certification procedures also apply.