Stamp Duty Refund Scheme

May 21, 2018

Finance Act 2017 introduced a Stamp Duty Refund Scheme for land that is chargeable to Stamp Duty at the 6 percent non-residential rate and is then subsequently developed for residential purposes.  A 6 percent rate of Stamp Duty applies to the purchase of non-residential land (executed after 11 October 2017) but a refund of the difference between the amount paid and the previous non-residential rate of 2 percent is available where land is then developed for residential purposes.

A new chapter (chapter 14) has been inserted into Revenue’s Stamp Duty Manual which provides details about this scheme. Claims for refunds in these situations are made on a self-assessment basis and should be made electronically.  Revenue hope that the necessary IT infrastructure to facilitate the making of the refunds will be completed in July 2018. 

Revenue will also update the Stamp Duty Manual to give details on how refund claims can be made in June 2018.