Finance Act 2019

Amendment of stamp duty rate on non-residential property

57. (1) The Principal Act is amended—

(a) in section 83D—

(i) in subsections (2)(a) and (6)(a), by substituting “7.5 per cent” for “6 per cent”, and

(ii) in subsection (6)(a), by substituting “11/15” for “2/3”,

and

(b) in Schedule 1—

(i) in the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance”, in paragraph (4), by substituting “7.5 per cent” for “6 per cent”, and

(ii) in the Heading “LEASE”, in paragraph (3)(b), by substituting “7.5 per cent” for “6 per cent”.

(2) Subsection (1)(a) shall not have effect as respects instruments executed on or after 9 October 2019 where paragraph (b) of subsection (3) applies to the instrument referred to in paragraph (a) of subsection 83D(2) of the Principal Act.

(3) Subsection (1)(b)

(a) shall have effect as respects instruments executed on or after 9 October 2019, and

(b) shall not have effect as respects any instrument executed before 1 January 2020, where—

(i) the effect of the application of subsection (1)(b) would be to increase the duty otherwise chargeable on the instrument, and

(ii) the instrument contains a statement, in such form as the Revenue Commissioners may specify, certifying that the instrument was executed solely in pursuance of a binding contract entered into before 9 October 2019.

(4) The furnishing of an incorrect certificate for the purposes of subsection (3) shall be deemed to constitute the delivery of an incorrect statement for the purposes of section 1078 of the Taxes Consolidation Act 1997 .