Section 19 of the Finance Act 1994 (now section 236 of the Taxes Consolidation Act 1997) exempts certain benefits provided to an employee from the benefit in kind charge under Section 118 and from the charge to tax in respect of distributions to participators under Section 436.
The benefit must consist of the loan to the individual of a work of art or a scientific collection beneficially owned by the company in which the individual is an employee or director, and which is available for viewing by the public.
The work of art or scientific collection must be on display and available for viewing by members of the public in a relevant building or relevant garden, as defined in section 482, to which reasonable access is afforded.
As regards the cost of the relief, I am advised by the Revenue Commissioners that they are aware that one taxpayer has applied for and benefited under Section 19 of Finance Act, 1994, since it was introduced and that in accordance with long standing confidentiality arrangements, it would not be appropriate to reveal particulars in relation to an individual taxpayer. The Commissioners have also advised me that under the benefit-in-kind arrangements in place since 1 January 2004 employers are not obliged to make returns in respect of exempt benefit-in-kind. There is therefore no way for them to know how many people have availed of the provision since that date.