TaxSource Total

Here you can access relevant source documents which support the summaries of key tax developments in Ireland, the UK and internationally

Source documents include:

  • Chartered Accountants Ireland’s representations and submissions
  • published documents by the Irish Revenue, UK HMRC, EU Commission and OECD
  • other government documents

The source documents are displayed per year, per month, by jurisdiction and by title

Note on Reform of Stamp Duty on Residential Property

Reform of Stamp Duty on Residential Property: Operative Date

Summary of Budget Measures-Extract

“This change will take effect in respect of instruments which are required to be presented to the Revenue Commissioners for stamping no later than 5 December 2007. Instruments which are executed in the 30 days prior to 5 December 2007 will therefore benefit from this change”.

Effective Date for changes

The changes announced by the TÁnaiste and Minister for Finance in his Budget speech on 5th December 2007 take immediate effect from that date.

Once a property transaction has occurred, the property transfer (referred to as an instrument) is required to be presented to the Revenue Commissioners for stamping within 30 days of its date of execution – denoted as the 30 day stamping-period. In the case of Budget day, this period commenced on Monday 5th November 2007. Therefore, any instruments executed on, or after, that day are covered by the changes.

This date means that the changes can impact on transactions in four possible ways:

This notice is for information only. It does not, and cannot, purport to constitute a legal interpretation. Purchasers of houses and their solicitors are advised to contact their local Revenue Office if they have any queries about Stamp Duty.

Transaction type

Covered by new system

Action required

Transactions on or after Budget day – 5th

December 2007, going forwards.

Yes

No action, automatically covered by the new system.

Instruments executed on, or after, Monday 5th

Yes, covered by 30 day

No action, Revenue will apply the new rates when

November, but not yet stamped by Revenue.

stamping-period.

presented for stamping.

Instruments executed from Monday 5th

November to Budget day (both dates inclusive)

and stamped by Revenue before, or on

Yes, covered by 30 day

Refund due for difference between old and new rates, purchasers

Budget day – 5th December 2007.

stamping-period.

advised to contact the Revenue Commissioners.

Instruments executed before

Monday 5th November.

No, covered by old system.

None, old rates applied – no refund possible.