Stamp Duties Consolidation Act 1999 section 50A

Agreements for more than 35 years charged as leases

Section 50A provides that an agreement for a lease of more than 35 years is treated as if it were an actual lease for stamp duty purposes, once 25 per cent or more of the consideration has been paid.

• An agreement for a lease exceeding 35 years is charged with the same stamp duty as an actual lease, where 25 per cent or more of the consideration mentioned in the agreement has been paid
• If the agreement is later rescinded or annulled, the Revenue Commissioners will refund the duty paid, subject to a four-year time limit under section 159A from the date the agreement was stamped
• The agreement is deemed to be executed on the date the 25 per cent payment threshold is reached, removing any ambiguity about when the stamp duty obligation is triggered
• The charge applies to instruments executed on or after 13 February 2013, but does not apply where an instrument is executed solely in pursuance of a binding contract entered into before that date