Clawback of Stamp-Duty Relief

The Conveyancing Committee is aware that the Revenue Commissioners are currently investigating claims for owner-occupier relief, and the investigation may, in time, be extended to other areas of stamp-duty relief, including a more specific focus on firsttime- buyer relief.

Practitioners should note that a clawback of stamp-duty relief arises where a purchaser has claimed relief in respect of the first purchase of either a new house or apartment, as an owner occupier, whether a firsttime buyer or not, and subsequently derives rent from the property within the specified period, other than under the rent-a-room scheme.

The relief is clawed back by Revenue in the form of a penalty from the original purchaser and the adequacy of the stamping of the instrument is not questioned. There is no requirement to return the original instrument to Revenue. The details of how to account to Revenue and the forms required are available on the Revenue website at www.revenue. ie. The requisite form, together with a copy of the deed, the penalty and interest arising thereon, should be forwarded to Revenue.