The Revenue have made regulations under Section 17A Stamp Duty Consolidation Act 1999, which impose mandatory electronic filing and payment of stamp duty returns. The regulations came into effect on the 1st of June 2011,and all stamp duty returns, where stamp duty is payable, must be filed electronically through the Revenue On-line Service (ROS), regardless of the date which appears on the instrument.
The following instances are the exceptions whereby the paper format will be accepted:
- An instrument executed prior to 2002
- Any Instrument which was received by the Revenue before the introduction of E-Stamping on the 30th December 2009
An accountable person may be excluded from having to electronically file and pay if they apply in writing to the Revenue and can prove that they are not registered for ROS and:
- Do not have internet access, or;
- If the accountable person is an individual, is prevented by age, mental of physical illness from complying
If such an application is made and rejected by the Revenue, that accountable person may appeal the decision to the Appeal Commissioners.
More about E-Stamping
E-Stamping is the stamping system which was been introduced by the Revenue Commissioners to replace the old paper format stamping system. The aim of the E-Stamping system is to provide a more cost effective and efficient stamping system. E-Stamping applies to all instruments which require stamping and where stamp duty is payable. E-Stamping is facilitated through the Revenue On-Line Service (ROS).
The E-Stamping Return
To avail of using the E-Stamping Return, you must log onto ROS. If you are not already registered for ROS, you can do so by following the ROS Registration process on www.ros.ie. Once registered and logged on, you can select stamp duty from the list of taxes. The systems will guide you through the various fields using drop down menus, which means that you will only need to complete the sections which apply to your particular case. Once all the information is completed correctly, the E-Stamping system will calculate the stamp duty which may be payable. If accepted, you may proceed to file the return and pay the appropriate stamp duty. You may save your workings offline however, if you are not ready to file yet. Also, you may file the return but choose not to pay by Direct Debit and alternatively you may send in the duty payable by cheque or electronic transfer. Once payment is received by the Revenue Commissioners and they are satisfied with their review, they will issue a Stamping Certificate. This Certificate replaces the holograph strip which previously was affixed to the instrument once stamp duty had been paid. If you pay the stamp duty by Direct Debit, you will receive the Stamp Certificate in your ROS inbox and this should be printed off and affixed to the instrument. If you choose to pay by EFT or cheque, the certificate will be posted out to you. If adjudication is required, it may take longer than normal for the certificate will be issued.
The main advantages of the E-Stamping Return are as follows:
- The new system applies to all stamp duty cases (E.g sale of new or second hand house, company reconstructions, transactions between related parties, instruments where the consideration is uncertain)
- You can save and amend your work offline before filing
- Help Text available online
- Constant availability of online system
- Variety of payment options
- Can view previous filings and workings
- Amendments can be made returns which have been filed
- Validation checks available
- The Stamp Certificate
This certificate is in A4 paper format which will be sent through ROS or by post when a return has been stamped and stamp duty has been completed. The Certificate should be affixed to the instrument to which it relates to. In a case where adjudication is required under Section 20SDCA, 1999, the Revenue may request supporting documentation and the instrument itself before issuing the certificate. The Certificate will contain details which will only relate to the instrument it relates to. It will also contain a certificate number and document ID Number which will be required if the certificate needs to be verified or replaced at any time.
Instruments which are not subject to stamping are as follows:
- An Instrument which creates joint tenancy between spouses in the family home
- Instruments to which Section 106B of the SDCA 1999 applies
- A lease of a dwelling house for any indefinite term or a term not exceeding 35 years which is exempt from Stamp Duty
- Stock transfer forms dated on or after the 24 December 2008 which transfers stock or marketable securities on sale where the amount or value of the consideration is €1,000 or less, is exempt from stamp duty and therefore does not have to be submitted to the Revenue Commissioners for stamping.
- Any instrument which is exempt from stamp duty, other than:
- An instrument to be adjudicated under Section 20 SDCA 1999
- An instrument operating as a conveyance or transfer, on sale or by way of gift, of land or interest on land
- A Lease of land for a term exceeding 30 years
- An Assignment of a lease of land where the unexpired term of the lease exceeds 30 years.
Interest & Penalties
For adjudication cases, the return must be filed within 30 days of the date the instrument was first executed. Payment of stamp duty must then be paid within 14 days of the Revenue’s assessment being issued. In any other cases where adjudication is not required, the stamp return must be filed and stamp duty paid within 44 days of the date the instrument was first executed. If stamp duty is underpaid penalties and interest will apply to the instrument until the date the full amount due has been paid.
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