Stamp Duty Consolidation Act, 1999 (Number 31 of 1999)
14 Penalty on stamping instruments after execution.
[SA1891 s15(1) to (5)]
(1) Except where express provision is in this Act made, any instrument which is unstamped or insufficiently stamped may be stamped after the expiration of the time for stamping provided for in subsection (3) of section 2, on payment of the unpaid duty and on payment [7]>of a [1]>penalty of £20<[1][1]>penalty of €25<[1]<[7][8]>and also by means of further penalty<[8], where the unpaid duty [2]>exceeds £20<[2][2]>exceeds €30<[2], of [4]>interest on such duty, at the rate of [4]>interest on such duty, calculated in accordance with section 159D,<[4] on which that instrument was first executed to the day of payment of the unpaid duty.[3]>1 per cent per month or part of a month<[3][3]>0.0322 per cent for each day or part of a day<[3] from the day<[4]
[14]>
(2) Where—
(a) any instrument referred to in column (1) of the Table to the definition of “accountable person” in section 1, or
(b) any instrument which operates, or is deemed to operate, as a voluntary disposition inter vivos,
has not been or is not duly stamped in conformity with subsection (3) of section 2, the accountable person shall, in addition to the [9]>penalties<[9][9]>interest<[9] provided for in subsection (1), be liable to pay an amount by means of [10]>further penalty<[10][10]>penalty<[10] as follows:
(i) an amount equivalent to 10 per cent of the unpaid duty on the instrument, where such instrument is stamped not later than 6 months after the day on which such instrument was first executed;
(ii) an amount equivalent to 20 per cent of the unpaid duty on the instrument, where such instrument is stamped more than 6 months but not later than 12 months after the day on which such instrument was first executed;
(iii) an amount equivalent to 30 per cent of the unpaid duty on the instrument, where such instrument is stamped more than 12 months after the day on which such instrument was first executed.
<[14]
[15]>
[6]>
(2A) (a) Subject to the conditions in paragraph (b) being satisfied, a penalty of €25 referred to in subsection (1) or a penalty referred to in subsection (2) shall not be payable in respect of any instrument, first executed before the passing of the Finance (No. 2) Act 2008, in respect of which the stamp duty chargeable has not been paid to the Commissioners before the passing of that Act.
(b) The conditions required to be satisfied by this paragraph are that—
(i) the instrument is delivered to the Commissioners for stamping before the expiration of the period of 56 days commencing on the passing of the Finance (No. 2) Act 2008 (in this paragraph referred to as the “expiration date”), and
(ii) the stamp duty chargeable on the instrument is paid to the Commissioners, together with interest relating to such duty, on or before the expiration date.
<[6]
<[15]
[16]>
(3) Subject to any other express provision in this Act in relation to any particular instrument, the Commissioners may, if they think fit, remit [11]>any penalty<[11][11]>either or both, any interest and penalty<[11] payable on stamping.
<[16]
(4) The payment of any [12]>penalty<[12][12]>interest [17]>and penalty<[17]<[12] payable on stamping shall be denoted on the instrument by a [5]>particular stamp<[5][5]>particular stamp or by way of inclusion in a stamp certificate issued in respect of that instrument<[5].
[13]>
(5) Any penalty payable by operation of this section shall be chargeable and recoverable in the same manner as if it were part of the duty on the instrument to which it relates.
<[13]
[5]
Substituted by FA08 s111(1)(e). With effect from 26 November 2009 as per S.I. No. 484 of 2009.
[7]
Deleted by F(No.2)A08 sched5(part5)(chap2)(7)(c)(i)(I). Has effect as respects penalties incurred in respect of instruments executed on or after 24 December 2008.
[8]
Deleted by F(No.2)A08 sched5(part5)(chap2)(7)(c)(i)(II). Note F(No.2)A08 sched5 (part5)(chap 2)(7). As respects paragraph 7 of this Schedule subparagraphs (a) to (aa) (other than subparagraph (c)(i)(I)) of that paragraph have effect as on and from the passing of this Act and to the extent that Chapter 3A (being inserted into Part 47 of the Taxes Consolidation Act 1997 by Part 1 of this Schedule) applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before the passing of this Act which on the passing of this Act have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the said Act.
[9]
Substituted by F(No.2)A08 sched5(part5)(chap2)(7)(c)(ii)(I). As respects paragraph 7 of this Schedule subparagraphs (a) to (aa) (other than subparagraph (c)(i)(I)) of that paragraph have effect as on and from the passing of this Act and to the extent that Chapter 3A (being inserted into Part 47 of the Taxes Consolidation Act 1997 by Part 1 of this Schedule) applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before the passing of this Act which on the passing of this Act have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the said Act.
[10]
Substituted by F(No.2)A08 sched5(part5)(chap2)(7)(c)(ii)(II). As respects paragraph 7 of this Schedule subparagraphs (a) to (aa) (other than subparagraph (c)(i)(I)) of that paragraph have effect as on and from the passing of this Act and to the extent that Chapter 3A (being inserted into Part 47 of the Taxes Consolidation Act 1997 by Part 1 of this Schedule) applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before the passing of this Act which on the passing of this Act have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the said Act.
[11]
Substituted by F(No.2)A08 sched5(part5)(chap2)(7)(c)(iii). As respects paragraph 7 of this Schedule subparagraphs (a) to (aa) (other than subparagraph (c)(i)(I)) of that paragraph have effect as on and from the passing of this Act and to the extent that Chapter 3A (being inserted into Part 47 of the Taxes Consolidation Act 1997 by Part 1 of this Schedule) applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before the passing of this Act which on the passing of this Act have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the said Act.
[12]
Substituted by F(No.2)A08 sched5(part5)(chap2)(7)(c)(iv). Note F(No.2)A08 sched5 (part5)(chap 2)(7). As respects paragraph 7 of this Schedule subparagraphs (a) to (aa) (other than subparagraph (c)(i)(I)) of that paragraph have effect as on and from the passing of this Act and to the extent that Chapter 3A (being inserted into Part 47 of the Taxes Consolidation Act 1997 by Part 1 of this Schedule) applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before the passing of this Act which on the passing of this Act have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the said Act.
[13]
Deleted by F(No.2)A08 sched4(part1). Applies as respects any tax that becomes due and payable on or after 1 March 2009.
[14]
Deleted by FA12 sched3(5)(a). In effect for all instruments that are executed on or after 7 July 2012 per S.I. No. 228 of 2012.
[15]
Deleted by FA12 sched3(5)(a). In effect for all instruments that are executed on or after 7 July 2012 per SI No. 228 of 2012.
[16]
Deleted by FA12 sched3(5)(a). In effect for all instruments that are executed on or after 7 July 2012 per SI No. 228 of 2012.
[17]
Deleted by FA12 sched3(5)(b). In effect for all instruments that are executed on or after 7 July 2012 per S.I. No. 228 of 2012. Note: F(No.2)A08 sched5 (part5)(chap 2)(7). As respects paragraph 7 of this Schedule subparagraphs (a) to (aa) (other than subparagraph (c)(i)(I)) of that paragraph have effect as on and from the passing of this Act and to the extent that Chapter 3A (being inserted into Part 47 of the Taxes Consolidation Act 1997 by Part 1 of this Schedule) applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before the passing of this Act which on the passing of this Act have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the said Act.