Revenue eBrief No. 024/22

01 February 2022

Section 126AA Bank Levy

Section 126AA of the Stamp Duties Consolidation Act 1999 provides for a levy on certain financial institutions (known as the bank levy). Section 60 of Finance Act 2021 amended section 126AA to provide for the extension of the levy to 2022 (KBC Bank Ireland plc and Ulster Bank Ireland DAC excluded). Stamp Duty Tax and Duty Manual (TDM) S126AA Bank Levy has been updated to reflect the amendments. 

TDM Section 81AA – Transfers to young trained farmers - has been amended in section 1 to advise that the relief has been extended by 1 year to the end of 2022, as provided for by section 59 of Finance Act 2021.

TDM Section 125A - Health Insurance Levy - has been amended in section 2 to advise payment rates for the year 2022, as provided for by section 8 of the Health Insurance (Amendment) Act 2021.