eBrief No. 43/2007 reminds us that the expanded farm consolidation relief, provided in FA07 is subject to a commencement order by the Minister for Finance and approval has been sought, but not yet received, from the European Commission in relation to the introduction of the relief.

The eBrief provides for a retrospective commencement of the relief – legislation had provided that the relief would commence from the date of the signing of the commencement order.

According to the eBrief, if and when the relief is commenced, the relief will apply retrospectively to instruments executed on or after 1 July 2007 and on or before 30 June 2009 where the conditions governing the relief have been satisfied.

In the meantime, instruments which come within the parameters of the relief are required to be stamped without the benefit of the relief. Where stamp duty has been paid in respect of any such instruments, a repayment of the stamp duty may be claimed from the Revenue Commissioners if/when the relief is commenced.

eBrief No. 43/2007 is available at Section 2.02.