291 Transitional tax credit in Northern Ireland: new scheme
Finance Act 2004 (2004 c 12) | Legislation

291  Transitional tax credit in Northern Ireland: new scheme

(1)     Part 2 of the Finance Act 2001 (aggregates levy) is amended as set out in subsections (2) and (3).

(2)     For section 30A substitute—

“30A Transitional tax credit in Northern Ireland

(1)     The Commissioners may by regulations make provision of the kind described in section 30(2) above (entitlement to tax credit) in relation to cases within subsection (2) below.

(2)     The cases are those where a charge to aggregates levy has arisen on a quantity of aggregate which has been subjected to commercial exploitation in Northern Ireland during a period—

(a)     starting on the prescribed date, and

(b)     ending on 31st March 2011.

(3)     The date prescribed for the purposes of subsection (2)(a) above may be earlier than the date on which this section comes into force.

(4)     The amount of a tax credit to which a person is entitled under the regulations must not be more than 80% of any aggregates

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