Stamp Duties Consolidation Act 1999 section 15

Surcharges for undervaluation in case of voluntary disposition inter vivos

Section 15 imposed surcharges where the value of property transferred by way of voluntary disposition inter vivos had been understated in a stamp duty return.

• Where property was transferred by voluntary disposition and its value was understated, a surcharge could be imposed in addition to the stamp duty otherwise payable.
• The surcharge mechanism was designed to discourage deliberate undervaluation of property in stamp duty returns.
• Section 15 was abolished by the Finance Act 2012, with effect for instruments executed on or after 7 July 2012.
• For instruments executed from that date onwards, undervaluation is instead dealt with through the penalty regime for incorrect returns filed under the e-stamping system, as provided for by section 134A.