Gifts and inheritances

Gifts

What is a gift?

A gift for Stamp Duty purposes arises if property is transferred to you and:

  • you do not pay consideration for it
  • the amount of consideration you pay is less than the market value of the property
  • in cases other than a lease, it is transferred to you because you married the owner.

Do you pay Stamp Duty on a gift?

You pay Stamp Duty if the property:

  • is situated in Ireland
  • and
  • an instrument (written document) is executed (signed, sealed or both) to transfer it to you.

If the property is situated outside Ireland, there may still be a charge to Stamp Duty. For more information, see When is an instrument liable to Stamp Duty. You may be able to claim an exemption or relief.

Who has to pay the Stamp Duty?

All parties to the instrument, that is the giver and the recipient, are liable to pay the Stamp Duty.

Gifts of land and buildings

You pay Stamp Duty on the market value of the property at the appropriate Stamp Duty rate.

Gifts of shares, stocks or marketable securities

You pay Stamp Duty on the market value of the shares, stocks or marketable securities (shares) at the appropriate Stamp Duty rate.

If the shares gifted to you:

  • have a market value of €1,000 or less
  • and
  • the instrument is not part of a larger transaction or series of transactions you do not pay Stamp Duty.

This exemption applies to instruments executed on or after 24 December 2008.

Leases

Where a lease is treated as a gift, you pay Stamp Duty on the notional premium.

The notional premium is the amount in money needed to ensure that you pay full market value for the lease.

Gifts of a Policy of insurance

You pay Stamp Duty on the gross surrender value of a policy of (life and non-life) insurance at the appropriate Stamp Duty rate.

You do not pay Stamp Duty if the policy has no surrender value.

Stamp Duty Chargeable on Higher Amount

In circumstances where property is transferred as a gift but there is a debt involved, Stamp Duty is chargeable on the higher amount.

For more information, see Stamp Duty and Consideration.

Next: Inheritances