Stamp Duties Consolidation Act 1999 section 18

Mode of valuing property

Section 18 sets out how property conveyed or transferred under a voluntary disposition or a transfer in contemplation of sale is to be valued for stamp duty purposes, and what items are to be disregarded in arriving at that value.

• The value of transferred property must be determined without regard to any power that could revest the property in the transferor, any annuity or forfeitable interest reserved out of the property, or any right of residence, support or maintenance charged on it
• Rights of residence or similar rights reserved in favour of the transferor or their spouse or civil partner may be taken into account, but only to the extent that their value does not exceed 10 per cent of the unencumbered value of the property
• Where a power of revesting has been exercised and the property has been reconveyed or retransferred, the Revenue Commissioners will repay the stamp duty attributable to that reconveyance, subject to a claim being made within four years of the date the instrument was stamped
• Any repayment is subject to the general time limit provisions in section 159A, and the duty repaid is limited to the excess over what would have been payable had the reconveyed property not been included in the original instrument