FINANCE ACT (NORTHERN IRELAND) 1966 - SECT 15 Grants to housing associations for affording relief from tax.

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FINANCE ACT (NORTHERN IRELAND) 1966 - SECT 15

Grants to housing associations for affording relief from tax.

15.(1) If a housing association makes a claim to the Ministry of Development
in respect of any period and satisfies that Ministry

(a)that throughout that period it was a housing association to which this
section applies; and

(b)that its functions throughout that period either

(i)consisted exclusively of the function of providing or maintaining housing
accommodation for letting or hostels and of activities incidental thereto; or

(ii)included that function and such activities;

(2) Any grant under this section shall be of such amount, shall be made at
such times and in such manner and shall be subject to such conditions as the
Ministry of Development thinks fit, including conditions for securing the
repayment in whole or in part of any grant made to an association in the event
of any tax in respect of which it was made subsequently being found not to be
chargeable or in such other events (including the association subsequently
beginning to trade for profit) as that Ministry may determine.

(3) Any claim under this section shall be made in such manner and shall be
supported by such evidence as the Ministry of Development may direct; and it
shall be lawful for the Commissioners of Inland Revenue and their officers to
disclose to that Ministry such particulars as may reasonably be required for
determining whether a grant should be made on any claim or whether any such
grant should be repaid or the amount of any such grant or repayment.

(4) In subsection (1) references to tax chargeable on an association are
references to income tax (other than income tax which the association is
entitled to deduct on making any payment), profits tax and corporation tax,
but no relief shall be afforded under this section in respect of income tax
for any period before 6th April 1965 or profits tax for any period before the
beginning of April 1965 (any profits tax for a chargable accounting period
beginning before and ending after that time being duly apportioned).

(5) This section applies to any housing association which

(a)is a housing association as defined in section 12(2) of the Housing and
Local Government (Miscellaneous Provisions) Act (Northern Ireland) 1946; or

(b)would be a housing association as so defined if the reference in that
section to houses for workers included a reference to hostels as defined in
section 15(3) of the Housing Act (Northern Ireland) 1963;

S.16, with Schedule 3, effects repeals

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Northern Irish Legislation

FINANCE ACT (NORTHERN IRELAND) 1966 - SECT 15