Stamp Duties Consolidation Act 1999 section 16

Surcharges to apply when apportionment is not just and reasonable

Section 16 provided for surcharges where an apportionment of consideration between residential and non-residential property was not just and reasonable, resulting in a reduction of Stamp Duty liability. The section was abolished for instruments executed on or after 7 July 2012.

• Surcharges applied where the residential element of consideration was undervalued or overvalued in an apportionment, thereby reducing the Stamp Duty payable.
• The section targeted situations where an incorrect split of consideration between residential and non-residential property led to a lower overall Stamp Duty charge.
• Section 16 was deleted by section 107 of and Schedule 3 to the Finance Act 2012, with effect for instruments executed on or after 7 July 2012.
• For instruments executed from that date onwards, an incorrect apportionment included in a Stamp Duty return filed under the e-stamping system gives rise to penalties for filing an incorrect return under section 134A.