Stamp Duty

About Stamp Duty

Stamp Duty is a tax on documents, more commonly referred to as “instruments”. For example it is chargeable on a conveyance sale or transfer on sale, assignment of a lease and a policy of insurance.

This is a self-assessed tax.

For a document to be chargeable to stamp duty it must meet one of 3 conditions:

• It is executed in the State; or
• It relates to property situate in the State; or
• It relates to any matter or thing “done or to be done” in the State.

The accountable person refers to the person responsible for paying the stamp duty e.g. in a conveyance on sale the purchaser is the accountable person.

The main body of legislation governing stamp duties in Ireland is the Stamp Duties Consolidation Act 1999.

Rates of Stamp Duty

Stamp duties can be ad valorem, a percentage of the value of the transactions. Stamp duty can also be a flat rate such as the €30 annual charge on a credit card or 50c on a cheque.

Some of the rates applicable to transactions are:

  • Stocks & marketable securities – 1%
  • Leases – on average annual rent – 1% – 12%
  • Leases – on the premium – 1% – 2%
  • Residential Property – 1% up to €1m
  • Residential Property – 2% excess above €1m
  • Other property – 2%

Due Dates

Stamp duty is due for filing and payment within 30 days of the document being executed. When filing using the e-Stamping system the deadline is extended to 44 days.

Tax Reliefs

The most common reliefs are listed below. Please note each relief is subject to specific qualifying conditions which we have not listed.

  • Transfers between spouses/ civil partners are exempt provided they are living together
  • Transfer of property between co-habitants are exempt provided that it is subject to a Property Adjustment Order.
  • Transfers to Young Trained Farmers aged 34 years or less of agricultural assets are exempt from stamp duty if before
  • Consanguinity Relief reduces the stamp duty by 50% of the normal rate on the conveyances or transfer of farmland to a close relative. The transferor must be aged 67 years or less.
  • Certain leases of farmland are exempt.
  • Transfer of shares not exceeding €1K are exempt. This does not apply to electronic transfers through CREST.

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