The Tax and Duty Manual – Filing and Paying Stamp Duty on Instruments – has been updated to include information for taxpayers completing a stamp duty return where a liability under the new rules on multiple purchases of residential properties (section 31E SDCA 1999) is being declared for the first time, and previously acquired relevant residential units are being returned.

Section 4 of the manual recommends that the ROS offline facility be used when completing a stamp duty return when declaring a liability under section 31E SDCA 1999 for the first time and previously acquired relevant residential units are being returned.

Section 13 of the Financial (Covid-19 and Miscellaneous Provisions) Act 2021 provides for the insertion of section 31E SDCA 1999, which applies to the acquisition of residential units on or after 20 May 2021. Where a residential unit is acquired on or after 20 May 2021 (date immediately after date on which Financial Resolution passed), regard must be had to any other residential units acquired on the same date and at any time in the immediately preceding 12 months. Where the aggregate of the residential units acquired during that period is at least 10, then each of those units become ‘relevant residential units’ for the purposes of the application of the 10 percent rate of stamp duty. Section 31E takes account of residential units acquired by connected persons as defined.

For further information see Revenue eBrief No. 137/21.