Administration

The Revenue Commissioners are responsible for the administration of stamp duties (s 137).

Collection

Duty

You must have your deed stamped within 30 days of its execution. If you seek adjudication (i.e., a Revenue opinion as to whether a deed is chargeable, or the amount of duty chargeable), you must pay the duty within 14 days of the notice of assessment (s 2).

Interest

You are liable to interest which accrues at 0.0219% for each day the duty is unpaid.

Surcharge

If you receive a gift of property (a voluntary disposition inter vivos), and you understate the value, you are liable to a surcharge (s 15) of:

(a) 25%, if the undercharge was greater than 15% but less than 30%,

(b) 50%, if the undercharge was greater than 30% but less than 50%, and

(c) 100%, if the undercharge was greater than 50%.

Penalties

If you do not pay stamp duty by the due date, the penalty (s 14) applicable is €30 plus:

(a) 10% of unpaid duty if less than six months late,

(b) 20% of unpaid duty if over six months but less than 12 months late,

(c) 30% of unpaid duty if over 12 months late.

If after claiming to be a first time purchaser of residential property, you derive rent from the property in the five year period following the transfer, you are liable to a penalty equal to the stamp duty saved (s 92A(3), 92B(4)).

See INCOME TAX (Penalties) as regards enforcement of penalties.