Revenue eBrief No. 039/24

09 February 2024

Stamp Duty Manual: "Part 6: Special provisions relating to uncertificated securities" has been updated

Part 6 of the Stamp Duties Consolidation Act 1999 makes provision for electronic transfers of interests in securities (such as shares) to be chargeable to stamp duty. The provisions of Part 6 provide for stamp duty to be charged by deeming the transfer order which effects the transfer of an interest in securities to be an executed instrument of conveyance or transfer of the securities concerned. 

Tax and Duty Manual Part 6 - Special provisions relating to uncertificated securities provides general guidance on the application of these provisions.  It has been restructured to make it easier to follow and additional guidance has been added, as follows:

• new Section 2 - provides general guidance on the circumstances in which a conveyance or transfer of securities is chargeable with stamp duty;
• in Section 3.3.1 – new guidance on who the accountable person is in relation to a transfer order;
• in Section 7 – new guidance to clarify that where a transfer order effects the transfer of an interest in securities outside a relevant system, the obligation to retain records does not apply in relation to a CSD and to state that Revenue accepts that the obligation to retain records does not apply in respect of any transfer order which is excluded from the scope of section 78B by virtue of subsection (4) of that section.