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Stamp Duty on Memorials
Practitioners are reminded that there are two distinct circumstances which arise in relation to Stamp Duty on Memorials arising from the provisions of the following Acts:-
(1) Section 14 Family Home Protection Act, 1976.
An assurance of a Family Home by one spouse into the joint names of both spouses is exempt from Stamp Duty.
A Memorial of the Deed of Assurance is also exempt from Stamp Duty.
(2) Section 114 Finance Act, 1990.
(a) An assurance by one spouse which has the effect of placing a family home into the sole name of the other spouse is exempt from Stamp Duty.
(b) An assurance between spouses of a property which is not a Family Home is exempt from Stamp Duty.
However, Memorials of these Assurances are liable to Stamp Duty.
