Stamp Duties Consolidation Act 1999 section 117

Statement to be charged with stamp duty

Section 117 set out the charge to companies capital duty and the manner in which particulars were to be supplied to the authorities so that the amount of duty could be determined. The section applied only to chargeable transactions taking place before 7 December 2005, companies capital duty having been abolished by section 110(a) of the Finance Act 2006.

• A statement of the company's assets, liabilities and expenses had to be delivered to the Registrar of Companies for each chargeable transaction occurring before 7 December 2005.
• The duty was charged at 0.5% of the chargeable amount (1% for transactions before 2 December 2004), subject to a minimum charge of €1.
• Where a capital company was being formed, the statement had to be delivered before incorporation or registration; in all other cases, within 30 days of the chargeable transaction.
• Interest at 0.0273% per day ran on any duty remaining unpaid after the relevant deadline, and the Registrar could not incorporate or register a capital company until the statement was duly stamped.