Stamp Duties Consolidation Act 1999 section 42

Charging of consideration consisting of periodical payments

Section 42 sets out how stamp duty is charged where the consideration for a conveyance on sale consists of periodical payments.

• Where periodic payments run for a definite period of 20 years or less and the total can be ascertained, ad valorem duty is charged on that total amount.
• Where periodic payments run for a definite period exceeding 20 years, duty is charged on the total payable during the first 20 years after the date of the instrument.
• A provision within the conveyance itself that secures the periodic payments does not attract any additional duty.
• A separate instrument made to secure the payments is not charged with duty exceeding €12.50.