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21 1969

FINANCE ACT, 1969

PART V

Stamp Duties

Amendment of section 13 of Finance (No. 2) Act, 1947.

47. —(1) Section 13 of the Finance (No. 2) Act, 1947 , is hereby amended as follows:

(a) by the substitution for subsection (1) of the following subsection—

“(1) The stamp duties chargeable on conveyances or transfers of lands, tenements and hereditaments under the heading ‘Conveyance or Transfer on sale of any property’ in the First Schedule to the Stamp Act, 1891, shall be at the following rates—

(i) one pound for every fifty pounds or fractional part of fifty pounds of the amount or value of the consideration where the amount or value of the consideration does not exceed six thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions, in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds six thousand pounds;

(ii) one pound ten shillings for every fifty pounds or fractional part of fifty pounds of the amount or value of the consideration where the amount or value of the consideration exceeds six thousand pounds but does not exceed fifty thousand pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions, in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds fifty thousand pounds;

(iii) in any other case, at the rate of two pounds ten shillings for every fifty pounds or fractional part of fifty pounds of the amount or value of the consideration.”

(b) by the substitution for subsection (2) of the following subsection—

“(2) Subsection (1) of this section shall not apply—

(a) where the amount or value of the consideration does not exceed five hundred pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions, in respect of which the amount or value, or the aggregate amount or value, of the consideration exceeds five hundred pounds, or

(b) where the amount or value of the consideration exceeds five hundred pounds but does not exceed two thousand five hundred pounds and the instrument contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions.”

(c) by the substitution for subsection (3) of the following subsection—

“(3) In such case as is mentioned in subsection (2) (b) of this section the duty chargeable shall be as follows:

Where the amount or value of the consideration for the sale—

Exceeds

£500

and does not exceed

£600

£4

0

0

£600

£700

£5

0

0

£700

£800

£6

0

0

£800

£900

£7

0

0

£900

£1,000

£8

0

0

£1,000

£1,100

£10

0

0

£1,100

£1,200

£12

10

0

£1,200

£1,300

£15

0

0

£1,300

£1,400

£17

10

0

£1,400

£1,500

£20

0

0

£1,500

£1,600

£22

10

0

£1,600

£1,700

£25

0

0

£1,700

£1,800

£27

10

0

£1,800

£1,900

£30

0

0

£1,900

£2,000

£33

0

0

£2,000

£2,100

£36

10

0

£2,100

£2,200

£40

0

0

£2,200

£2,300

£43

10

0

£2,300

£2,400

£47

0

0

£2,400

£2,500

£50

0

0

”.

(2) In the case of any instrument executed but not stamped before the coiming into operation of this section the Revenue Commissioners may require to be furnished with such evidence as they may deem necessary, in order to show to their satisfaction whether all the facts and circumstances affecting the liability of the instrument to duty, or the amount of the duty chargeable thereon, are fully and truly set forth therein.

(3) (a) Subject to paragraph (c) of this subsection, this section shall be deemed to have come into operation on the 7th day of May, 1969, and shall not have effect in relation to any instrument executed before such coming into operation.

(b) Appropriate repayments for the purposes of paragraph (a) of this subsection shall be made, provided that in each case the application for repayment is made within two years after the date of the instrument to which the repayment relates.

(c) This section, in so far as it makes provision for the chargeof stamp duty at the rate of two pounds ten shillings for every fifty pounds or fractional part of fifty pounds of the amount or value of the consideration, shall come into operation on the 1st day of August, 1969, or the date of the passing of this Act, whichever is the later, and shall not have effect with respect to any instrument executed before such coming into operation.

Amendment of section 24 of Finance Act. 1949.

48. —(1) Section 24 of the Finance Act, 1949 , is hereby amended as follows:

(a) by the substitution for subsection (1) of the following subsection—

“(1) The stamp duties chargeable under paragraph (3) of the heading ‘Lease or Tack’ in the First Schedule to the Stamp Act, 1891, in respect of any consideration which consists of any money, stock or security (other than rent) for a lease shall be at the following rates—

(i) one pound for every fifty pounds or fractional part of fifty pounds of the consideration where the consideration does not exceed six thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions, in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds six thousand pounds;

(ii) one pound ten shillings for every fifty pounds or fractional part of fifty pounds of the consideration where the consideration exceeds six thousand pounds but does not exceed fifty thousand pounds and the lease contains a statement certifying that the transaction thereby effected does not form part of a larger transaction or of a series of transactions, in respect of which the amount or value, or the aggregate amount or value, of the consideration other than rent exceeds fifty thousand pounds;

(iii) in any other case, at the rate of two pounds ten shillings for every fifty pounds or fractional part of fifty pounds of the consideration.”

(b) by the substitution for the table set out in subsection (3) of the following table—

“Exceeds

£500

and does not exceed

£600

£4

0

0

£600

£700

£5

0

0

£700

£800

£6

0

0

£800

£900

£7

0

0

£900

£1,000

£8

0

0

£1,000

£1,100

£10

0

0

£1,100

£1,200

£12

10

0

£1,200

£1,300

£15

0

0

£1,300

£1,400

£17

10

0

£1,400

£1,500

£20

0

0

£1,500

£1,600

£22

10

0

£1,600

£1,700

£25

0

0

£1,700

£1,800

£27

10

0

£1,800

£1,900

£30

0

0

£1,900

£2,000

£33

0

0

£2,000

£2,100

£36

10

0

£2,100

£2,200

£40

0

0

£2,200

£2,300

£43

10

0

£2,300

£2,400

£47

0

0

£2,400

£2,500

£50

0

0

.”

(2) In the case of any instrument executed but not stamped before the coming into operation of this section the Revenue Commissioners may require to be furnished with such evidence as they may deem necessary, in order to show to their satisfaction whether all the facts and circumstances affecting the liability of the instrument to duty, or the amount of the duty chargeable thereon, are fully and truly set forth therein.

(3) (a) Subject to paragraph (c) of this subsection, this section shall be deemed to have come into operation on the 7th day of May, 1969, and shall not have effect in relation to any instrument executed before such coming into operation.

(b) Appropriate repayments for the purposes of paragraph (a) of this subsection shall be made, provided that in each case the application for repayment is made within two years after the date of the instrument to which the repayment relates.

(c) This section, in so far as it makes provision for the charge of stamp duty at the rate of two pounds ten shillings for every fifty pounds or fractional part of fifty pounds of the amount or value of the consideration, shall come into operation on the 1st day of August, 1969, or the date of the passing of this Act, whichever is the later, and shall not have effect with respect to any instrument executed before such coming into operation.

Exemption of certain instruments from stamp duty.

49. —(1) Subject to subsection (2) of this section, an instrument giving effect to the purchase of a house upon the erection thereof shall be exempt from all stamp duties.

(2) Subsection (1) of this section shall have effect in relation to an instrument if, but only if, it is shown to the satisfaction of the Revenue Commissioners that—

(a) a grant under section 2 or 7 of the Housing (Loans and Grants) Act, 1962 , has been, or will, by virtue of section 6 (2) of the Housing Act, 1966 , be made in respect of the house to which the instrument relates, or

(b) a grant under section 15 , 16 , 17 , 18 or 20 of the Housing Act, 1966 , has been or will be made in respect of the house aforesaid.

(3) Stamp duties shall not be chargeable in the case of a conveyance, transfer or lease by a local authority under the provisions of the Housing Act, 1966 , or of a conveyance, transfer or lease by a society registered under the Industrial and Provident Societies Acts, 1893 to 1966, and made, in accordance with a scheme for the provision of houses for its members, to a member or to such member and the spouse of the member.

(4) Where—

(a) an instrument has been charged with stamp duty under the heading “Conveyance or Transfer on sale of any property” or “Lease or Tack” in the First Schedule to the Stamp Act, 1891,

(b) a person requires under section 12 of the Stamp Act, 1891, the Revenue Commissioners to express their opinion with reference to the instrument, and

(c) it is shown to the satisfaction of the Revenue Commissioners that the instrument is one to which the provisions of subsection (2) or (3) of this section relate,

the instrument shall be exempted from duty, whether or not it has previously been stamped with a particular stamp denoting that it is duly stamped.

(5) In any such case as is referred to in subsection (4) of this section, the Revenue Commissioners may repay the duty charged on the instrument, provided that the application for exemption and repayment is made within two years after the date of the instrument.

(6) Section 16 of the Finance Act, 1950 , and section 52 of the Housing Act, 1966 , are hereby repealed.

(7) This section shall be deemed to have come into operation on the 7th day of May, 1969, and shall not have effect with respect to any instrument executed before such coming into operation.

Stamp duty on contracts for construction of office buildings.

50. —(1) It shall be the duty of every person who makes one or more contracts for the construction, alteration or enlargement of a building the greater part of which is intended for use as offices to deliver or procure the delivery to the Revenue Commissioners of the instrument or instruments containing every such contract.

(2) Every such instrument shall be chargeable with a stamp duty at the rate of ten per cent, of the amount or value of the consideration for the performance of the contract or contracts to which it relates: Provided that an instrument shall not be chargeable with duty to the extent to which it is shown to the satisfaction of the Revenue Commissioners that the amount or value of the consideration for the performance of the contract or contracts which it contains has formed part of the amount or value of the consideration for the performance of a contract in respect of which duty has been paid under this subsection.

(3) If at the expiration of ninety days after the making of a contract of a kind referred to in subsection (1) of this section the instrument containing it is not duly stamped, all the parties to the contract, as well as being liable for the duty unpaid, shall jointly and severally be liable to a penalty equal to twice the said duty, and the penalty shall be recoverable in the same manner as if it were part of the duty.

(4) Where there is variation in the amount or value of the consideration for the performance of a contract of a kind referred to in subsection (1) of this section, the following provisions shall have effect:

(a) where the amount or value of the consideration is increased, the instrument containing the contract shall, notwithstanding that it may have been stamped already and irrespective of whether or not it has been stamped with a particular stamp denoting that it is duly stamped, again become chargeable with stamp duty,

(b) duty shall be chargeable at the rate of ten per cent, of the increased consideration, due allowance being made for the amount of any duty already paid,

(c) if at the expiration of ninety days from the date of the increase in the consideration the instrument containing the contract is not stamped in accordance with the foregoing subparagraph, all the parties to the contract, as well as being liable for the duty unpaid, shall jointly and severally be liable to a penalty equal to twice the said duty, and the penalty shall be recoverable in the same manner as if it were part of the duty,

(d) where the amount or value of the consideration is decreased, the Revenue Commissioners may repay the difference between the amount of duty actually charged on the instrument containing the contract and the amount chargeable thereon by reference to the decreased consideration:

Provided that the application for repayment is made within two years after the date of the decrease in the consideration.

(5) Where a building the greater part of which is intended for use as offices is constructed, altered or enlarged and—

(a) the contract or any of the contracts for the construction, alteration or enlargement is not contained in any instrument or instruments,

(b) the construction, alteration or enlargement or part of the construction, alteration or enlargement is not the subject of a contact, or

(c) the Revenue Commissioners are of opinion that there existed an arrangement or arrangements in relation to the construction, alteration or enlargement the main purpose or one of the main purposes of which was the avoidance or reduction of liability to stamp duty under this section, the following provisions shall have effect—

(i) the Revenue Commissioners may by notice in writing require the owner of the building to deliver to them, within thirty days after the date of the requisition, the instrument containing the notification or a copy of such instrument (in this section referred to as the notification) given pursuant to the Local Government (Planning and Development) Act, 1963 (Permission) Regulations, 1964, of the grant under the Local Government (Planning and Development) Act, 1963 , by the relevant planning authority, within the meaning of that Act, of permission or approval in relation to the construction, alteration or enlargement, together with a statement of the total outlay expended or to be expended on the construction, alteration or enlargement,

(ii) the said notification shall—

(I) be charged with the amount of stamp duty with which it would be charged, and

(II) be subject to the provisions of this section to which it would be subject,

if it were a contract for the construction, alteration or enlargement aforesaid and the amount or value of the consideration for its performance were the total outlay expended or to be expended on the construction, alteration or enlargement aforesaid.

(6) An instrument or notification of a kind referred to in the foregoing provisions of this section shall not be deemed to be duly stamped unless the Revenue Commissioners have expressed their opinion thereon in accordance with section 12 of the Stamp Act, 1891, and the instrument is stamped with a particular stamp denoting that it is duly stamped.

(7) The foregoing provisions of this section shall not apply—

(a) in any case where the amount or the aggregate amountof the outlay expended on the construction, alteration or enlargement of a building does not exceed £50,000;

(b) in relation to the construction, alteration or enlargementof a building owned by a Minister of State, the Commissioners of Public Works in Ireland, or a local authority for the purposes of section 2 of the Local Government Act, 1941 ;

(c) in relation to the construction, alteration or enlargement of a building in an area which, at the date of the commencement of the construction, alteration or enlargement is an undeveloped area within the meaning of the Undeveloped Areas Act, 1952 .

(8) If a person fails to deliver to the Revenue Commissioners an instrument, notification or statement which he is required by virtue of this section to deliver to them, the delivery of the instrument, notification or statement by the person, or, in the case of a body corporate, by the secretary or any director thereof, may be enforced by the Revenue Commissioners under section 47 of the Succession Duty Act, 1853, in all respects as if the instrument, notification or statement, as the case may be, were such account as is mentioned in that section and the failure to deliver the instrument, notification or statement, as the case may be, were such default as is mentioned in that section.

(9) In determining for the purposes of this section the amount or value of the consideration for the performance of a contract or contracts for the construction, alteration or enlargement of a building or the total outlay expended or to be expended on such construction, alteration or enlargement a car park, and any other ancillary works, for and adjacent to the building shall be deemed to form part of the building.

(10) This section shall come into operation on the 1st day of August, 1969, or the date of the passing of this Act, whichever is the later.