Finance Act 2017 introduced a Stamp Duty Refund Scheme for land that is chargeable to Stamp Duty at the 6 percent non-residential rate and is then subsequently developed for residential purposes. A 6 percent rate of Stamp Duty applies to the purchase of non-residential land (executed after 11 October 2017) but a refund of the difference between the amount paid and the previous non-residential rate of 2 percent is available where land is then developed for residential purposes.

A new chapter (chapter 14) has been inserted into Revenue’s Stamp Duty Manual which provides details about this scheme. Claims for refunds in these situations are made on a self-assessment basis and should be made electronically. Revenue hope that the necessary IT infrastructure to facilitate the making of the refunds will be completed in July 2018.