Stamp Duties Consolidation Act 1999 section 46

Directions as to sub-sales

Section 46 sets out the stamp duty rules that apply where property is sold on (sub-sold) before a conveyance has been taken by the original purchaser, ensuring that duty is charged once rather than twice.

• Where a purchaser contracts to sell property before taking a conveyance, and the property is conveyed directly from the original seller to the sub-purchaser, stamp duty is charged on the consideration paid by the sub-purchaser.
• Where the property is sold in parts or parcels to one or more sub-purchasers, each conveyance is charged only on the consideration paid by the relevant sub-purchaser, regardless of the original purchase price.
• In ascertaining the sub-purchaser's consideration, any covenant, power, condition or arrangement not in the original contract, and any consideration consisting of long-term periodic payments, are disregarded — which may result in the conveyance being treated as a voluntary disposition and stamped on market value.
• Consanguinity relief and the relief for transfers between spouses do not apply to sub-sale conveyances.