S23 Calculation

[morningperson]

I'm looking to get some details together to respond to a revenue request for information in order to calculate S23 relief.

Some of the information I already have:
1. Purchase price of the property.
2. Site Cost.
3. Certificate of Compliance.

Others I don't and I don't understand some aspect of what is being asked:
4. Cost of house prior to refurb/conversion - this isn't applicable.
5. Cost of construction/refurb/conversion carried out during the qualifying period.
6. Total cost of work.

5 and 6 I'm looking into. I've read the revenue guide to S23 calculation and the scenario that seems most applicable is "purchase of a property from a builder" as we purchased from a bulider/property developer. This scenario gives this formula for calculating the relief:

Price paid to builder X A
B + C

A = construction expenditure incurred in the qualifying period
B = total construction expenditure
C = expenditure on the acquisition of the site

I'm guessing A equates to 5 above and B to 6. It states A, B & C "construction expenditure and site costs used in the formula are those incurred by the builder and not those charged to the purchaser by the builder.".

I am going to request this information from the builder but the main thing I don't understand is what is meant by the "qualifying period" mentioned in 5 or C above?

Any info greatly appreciated.

 

[Lobby]

Did you buy the property as a completed premises or did you organise the renovations/refurb yourself?

If you bought the property as a finished property, then the selling agent should have organised a tax certificate giving the tax allowance on that site. The developers accountant will have produced this and normally, once the sale is closed the developers accountant will register this with the revenue. The developer will already have submitted the renovation/construction costs through his accountant.

What you get should just be a percentage figure which is the amount of the purchase price that you can offset against tax.