Stamp Duties Consolidation Act 1999 section 30

Voluntary dispositions inter vivos chargeable as conveyances or transfers on sale

Section 30 provides that a voluntary disposition inter vivos (a gift of property between living persons) is chargeable to stamp duty as if it were a conveyance or transfer on sale, with the property's market value standing in place of the sale consideration.

• A gift of property, or a transfer for inadequate or non-valuable consideration (including where marriage is the consideration), is treated as a conveyance on sale and stamp duty is charged on the property's open market value.
• Where the property is subject to a mortgage, Revenue will as a matter of practice deduct the mortgage liability so that duty is charged on the net benefit (the equity of redemption), unless the mortgage exceeds the equity of redemption, in which case section 41 applies and duty is charged on the mortgage amount.
• The charge does not apply to a gift to a body incorporated by special Act that is precluded from distributing profits among its members, where the property is to be held as an open space or preserved for the benefit of the nation.
• Certain categories of conveyance are excluded altogether, including transfers to secure a loan, trustee appointments or retirements, transfers where no beneficial interest passes, transfers from a trustee to a beneficiary, and disentailing assurances vesting a fee simple.