Section 14 Penalty on stamping instruments after execution
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(1) Except where express provision is in this Act made, any instrument which is unstamped or insufficiently stamped may be stamped after the expiration of the time for stamping provided for in subsection (3) of section 2, on payment of the unpaid duty and on payment ...1 ...2, where the unpaid duty [exceeds €30]3, of [interest on such duty, calculated in accordance with section 159D,]4 from the day on which that instrument was first executed to the day of payment of the unpaid duty.
Amendments
1 Deleted by Finance (No. 2) Act 2008 section 98 and Schedule 5 Part 5 Chapter 2 para 7(c)(i)(I) as respects penalties incurred in respect of instruments executed on or after 24 December 2008.
2 Deleted by Finance (No. 2) Act 2008 section 98 and Schedule 5 Part 5 Chapter 2 para 7(c)(i)(II) from 24 December 2008 and to the extent that Chapter 3A applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before 24 December 2008 which by 24 December 2008 have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the act.
3 Substituted by Finance Act 2001 section 240(2) and Schedule 5 as respects any act or omission which takes place or begins on or after 1 January 2002.
4 Substituted by Finance Act 2005 section 145(3) and Schedule 5 Part 2.
(2) Where-
(a) any instrument referred to in column (1) of the Table to the definition of "accountable person" in section 1, or
(b) any instrument which operates, or is deemed to operate, as a voluntary disposition inter vivos,
has not been or is not duly stamped in conformity with subsection (3) of section 2, the accountable person shall, in addition to the [interest]1 provided for in subsection (1), be liable to pay an amount by means of [penalty]2 as follows:
(i) an amount equivalent to 10 per cent of the unpaid duty on the instrument, where such instrument is stamped not later than 6 months after the day on which such instrument was first executed;
(ii) an amount equivalent to 20 per cent of the unpaid duty on the instrument, where such instrument is stamped more than 6 months but not later than 12 months after the day on which such instrument was first executed;
(iii) an amount equivalent to 30 per cent of the unpaid duty on the instrument, where such instrument is stamped more than 12 months after the day on which such instrument was first executed.
Amendments
1 Substituted by Finance (No. 2) Act 2008 section 98 and Schedule 5 Part 5 Chapter 2 para 7(c)(ii)(I) from 24 December 2008 and to the extent that Chapter 3A applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before 24 December 2008 which by 24 December 2008 have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the act.
2 Substituted by Finance (No. 2) Act 2008 section 98 and Schedule 5 Part 5 Chapter 2 para 7(c)(ii)(II) from 24 December 2008 and to the extent that Chapter 3A applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before 24 December 2008 which by 24 December 2008 have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the act.
If I am the accountable person, what additional penalties am I exposed to in respect of an insufficiently stamped conveyance, lease, mortgage or voluntary disposition inter vivos?
(2) You are also liable to the following penalties in respect of an insufficiently stamped conveyance, lease, mortgage or voluntary disposition inter vivos:...
(2A)(a) Subject to the conditions in paragraph (b) being satisfied, a penalty of €25 referred to in subsection (1) or a penalty referred to in subsection (2) shall not be payable in respect of any instrument, first executed before the passing of the Finance (No. 2) Act 2008, in respect of which the stamp duty chargeable has not been paid to the Commissioners before the passing of that Act.
(b) The conditions required to be satisfied by this paragraph are that—
(i) the instrument is delivered to the Commissioners for stamping before the expiration of the period of 56 days commencing on the passing of the Finance (No. 2) Act 2008 (in this paragraph referred to as the "expiration date"), and
(ii) the stamp duty chargeable on the instrument is paid to the Commissioners, together with interest relating to such duty, on or before the expiration date.
Amendments
Subs (2A) inserted by Finance (No. 2) Act 2008 section 81.
Under what circumstances are stamp duty penalties suspended?
(2A) If you had unpaid stamp duty on a deed first executed before 24 December 2008, the penalty was not applied provided the deed was filed for stamping before 19 February 2009 (56 days after 24 December 2008)....
(3) Subject to any other express provision in this Act in relation to any particular instrument, the Commissioners may, if they think fit, remit [either or both, any interest and penalty]1 payable on stamping.
Amendments
1 Substituted by Finance (No. 2) Act 2008 section 98 and Schedule 5 Part 5 Chapter 2 para 7(c)(iii) from 24 December 2008 and to the extent that Chapter 3A applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before 24 December 2008 which by 24 December 2008 have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the act.
(4) The payment of any [interest and penalty]1 payable on stamping shall be denoted on the instrument by a [particular stamp or by way of inclusion in a stamp certificate issued in respect of that instrument]2.
Amendments
1 Substituted by Finance (No. 2) Act 2008 section 98 and Schedule 5 Part 5 Chapter 2 para 7(c)(iv) from 24 December 2008 and to the extent that Chapter 3A applies to penalties incurred under the Stamp Duties Consolidation Act 1999 before 24 December 2008 which by 24 December 2008 have not been paid, it shall not apply to such penalties which are in the form of interest accrued under any provisions of the act.
2 Substituted by Finance Act 2008 section 111(1)(e) from a day to be appointed by the Minister for Finance.
(5) ...
Amendments
Subs (5) repealed by Finance (No. 2) Act 2008 section 97 and Schedule 4 para 2 as respects any tax that becomes due and payable on or after 1 March 2009.
