Revenue amended the Tax and Duty Manual (TDM) on associated companies relief (section 79 SDCA 1999) to clarify the operation of certain Revenue practices in relation to the conditions governing the relief.

The TDM has been amended to clarify:

• that where a transferee or transferor is a partnership but is not a body corporate, the relief does not apply, however, Revenue accepts that Irish limited and general partnerships may be ‘looked through’ when establishing the bodies corporate comprising a group for stamp duty purposes (section 5)
• the ways in which property comprising loans can cease to exist in order to be treated as ceasing to exist over time because of its nature (section 9.4.2)
• that the disapplication of the clawback of relief in situations where transferred property is retained within a corporate group for a period of two years post transfer extends to situations where a property is transferred on a number of occasions through a number of group companies (section 9.4.2)

See Revenue eBrief No. 082/21 for full details.