1. HomeBaile
  2. ActsAchtanna
  3. 2025
  4. Finance Act 2025

Finance Act 2025
  • Permanent Page URL

Miscellaneous amendments to Principal Act

80. The Principal Act is amended—

(a) by the repeal of section 110A,

(b) in section 125C, by the insertion of the following subsection after subsection (7):

“(8) For the purposes of this section, a reference to a relevant policy shall not include a reference to a policy of insurance, being insurance of a class specified in Part A of Annex I to the European Communities (Life Assurance) Framework Regulations 1994 ( S.I. No. 360 of 1994 ), which provides for—

(a) periodic payments to an individual in the event of loss or diminution of income in consequence of ill health, or

(b) the payment of an amount or amounts to an individual in consequence of ill health, disability, accident or hospitalisation.”,

and

(c) in Schedule 1—

(i) in the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance”, in paragraph (1)(b) by the substitution of the following clause for clause (i):

“

(i) for the consideration which is attributable to residential property other than that referred to in clause (ii) or (iii);

1 per cent of the first €1,000,000 of the consideration, 2 per cent of the next €500,000 of the consideration and 6 per cent of the balance of the consideration thereafter, but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.

”,

and

(ii) in the heading “LEASE”, in paragraph (3)(a)(i) by the substitution of the following subclause for subclause (I):

“

(I) for the consideration which is attributable to residential property other than that referred to in subclause (II) or (III);

1 per cent of the first €1,000,000 of the consideration, 2 per cent of the next €500,000 of the consideration and 6 per cent of the balance of the consideration thereafter, but where the calculation results in an amount which is not a multiple of €1 the amount so calculated shall be rounded down to the nearest €.

”.