Section 101 Intellectual property

Summary

This section provides for an exemption from stamp duty on the sale, transfer or other disposition of intellectual property as defined.

(2) Subject to subsection (3), stamp duty is not chargeable on an instrument for the sale, transfer or other disposition of intellectual property as defined.

(3) Where an instrument consists of both intellectual property and other chargeable property, the consideration is to be apportioned on a just and reasonable basis between intellectual property and the other property contained in the instrument, and in addition, only that part of the consideration which relates to property, which is not intellectual property, will be chargeable to stamp duty.

(5) Where property is conveyed in separate parts by different instruments, the apportionment of consideration under section 45(1), is to be on a just and reasonable basis where part of the property consists of intellectual property.

(6) Where intellectual property is included in property contracted to be purchased by two or more persons who are relevant persons connected with one another, a similar apportionment under section 45(3), as that contained in subsection (5)is provided for.

(7) A “relevant person”, for the purposes of subsection (6), is defined as a person by or for whom the property is contracted to be purchased and the question of whether persons are connected with one another is to be construed in accordance with section 10 of the Taxes Consolidation Act 1997 and as if the reference to the Capital Gains Tax Acts in the definition of “relative” in that section was replaced by a reference to the Stamp Duties Consolidation Act 1999.

(8) Where subsection (5) or subsection (6) apply and the consideration is apportioned other than on a just and reasonable basis, stamp duty is to apply as if the value of the property transferred was substituted for the consideration set out in the relevant instrument.

Relevant Date: Finance Act 2014