Revenue eBrief No. 060/23
14 March 2023
TDM 04-08-11 Pre-letting Expenses
Tax and Duty Manual 04-08-11 – Pre-letting expenses – has been amended to reflect changes to section 97A Taxes Consolidation Act 1997 in Finance Act 2022, as follows:
- Paragraph 1 states that the period for which the property must have been vacant has been reduced from 12 months to 6 months.
- Paragraph 4 states the cap on the allowable deduction for the expenditure has been increased from €5,000 to €10,000.
Both changes take effect from 1 January 2023.