WENTWORTH provides specialist advice on any stamp duty implications associated with your commercial transactions, including the availability of any relieving provisions or exemptions.
Our experts have prepared a guide to the transactions that are subject to stamp duty and the various stamp duty rates.
Stamp duty applies to written documents (“instruments”) and in more recent times has been extended beyond written documents to cover:
- Certain electronic transfers (this relates to stamp duty on securities title to which is transferred electronically via the CREST system, namely share trading)
- Cash cards, debit cards, combined cards, credit cards and charge cards, life and non-life insurance premiums, “section 84” loans, a bank levy, a pension schemes levy and a levy on health insurers.
Instruments, such as the deed you sign on the purchase of a house, are liable to stamp duty
The rates of duty applicable to instruments relating to residential property transactions executed on or after 8 December 2010 are:
| Aggregate Consideration | Rate of Duty |
|---|---|
| First €1,000,000 | 1% |
| Excess over €1,000,000 | 2% |
The rates of duty applicable to instruments non-residential property executed on or after 1st January 2020 is 7.5%.
A lease is chargeable to stamp duty on both the premium (or fine) and, the rent payable under the lease.
The rate chargeable on the premium mirrors the rate for conveyances/transfers of residential, non-residential or mixed property, as appropriate.
The rate chargeable on the rent is set out below:
| Residential and Non-Residential Property | Rate |
|---|---|
| Lease for a term not exceeding 35 years or for any indefinite term | 1% of the average annual rent |
| Lease for a term exceeding 35 years but not exceeding 100 years | 6% of the average annual rent |
| Lease for a term exceeding 100 years | 12% of the average annual rent |