Finance Act , 1982

(i) which is used as a small public service vehicle within the meaning of the Road Traffic Act, 1961, and for no other purpose,

(ii) which is fitted with a taximeter and is lawfully used as a street service vehicle within the meaning of the said Road Traffic Act, 1961, or for purposes incidental to such user and for no other purpose, or

(iii) which is used as a hearse and for no other purpose.

(c) Paragraph (a) of this subsection shall not have effect in relation to vehicles specified in Article 3 of the Imposition of Duties (No. 170) (Excise Duties) (Vehicles) Order, 1968 (S.I. No. 68 of 1968), as amended by the Imposition of Duties (No. 216) (Excise Duties) (Vehicles) Order, 1975 (S.I. No. 5 of 1975).

(5) The Act is, as respects licences under section 1 of the Act taken out for periods beginning on or after the 1st day of May, 1982, in respect of a vehicle—

(a) which is used as a small public service vehicle within the meaning of the Road Traffic Act, 1961, and for no other purpose, or

(b) which is fitted with a taximeter and is lawfully used as a street service vehicle within the meaning of the said Road Traffic Act, 1961, or for purposes incidental to such user and for no other purpose,

hereby amended by the substitution in Part I of the Schedule thereto of the following subparagraph for subparagraph (d) of paragraph 6:

“(d) other vehicles to which this paragraph applies—

not exceeding 8 horse-power	£24
exceeding 8 horse-power but not exceeding 9 horse-power	£27
exceeding 9 horse-power but not exceeding 10 horse-power	£30
exceeding 10 horse-power but not exceeding 11 horse-power	£33
exceeding 11 horse-power but not exceeding 12 horse-power	£36
exceeding 12 horse-power but not exceeding 13 horse-power	£39
exceeding 13 horse-power but not exceeding 14 horse-power	£42
exceeding 14 horse-power but not exceeding 15 horse-power	£45
exceeding 15 horse-power	£50”.

72 Amendment of certain provisions relating to penalties for offences in relation to licensing and registration of motor vehicles.

72.—(1) Where, after the passing of this Act, an act or omission occurs in respect of which a person would, but for this subsection, have incurred the penalty provided for or in any provision specified in column (2) of the Table to this subsection at any reference number of an Act specified in that column at that reference number, the person shall, in lieu of the penalty so provided for, be liable to the penalty specified in column (3) of the said Table at that reference number and that provision shall be construed and have effect accordingly.

TABLE

Reference Number	Provision of Act	Penalty
(1)	(2)	(3)
1	Section 12 (4) of the Roads Act, 1920	A penalty not exceeding £200
2	Section 13 (1) of the Roads Act, 1920	An excise penalty of £200 or an excise penalty equal to three times the amount of the duty payable in respect of the vehicle or vehicles, whichever is the greater
3	Section 13 (2) of the Roads Act, 1920	A fine not exceeding £200 or to imprisonment for a term not exceeding 6 months
4	Section 13 (4) of the Roads Act, 1920	A fine not exceeding £200 or to imprisonment for a term not exceeding 6 months
5	Section 2 (2) of the Finance (Excise Duties) (Vehicles) Act, 1952	An excise penalty of (whichever is the greater) £200 or three times the difference between the duty paid and duty at the higher rate
6	Section 76 of the Finance Act, 1976	A fine not exceeding £200

(2) Section 6 of the Roads Act, 1920 is hereby amended by the deletion of subsection (2).

73 Confirmation of Orders.

73.—The Orders mentioned in the Table to this section are hereby confirmed.

TABLE

S.I. No. 10 of 1981	Imposition of Duties (No. 250) (Beer) Order, 1981
S.I. No. 219 of 1981	Imposition of Duties (No. 251) (Excise Duty on Wine) Order, 1981
S.I. No. 367 of 1981	Imposition of Duties (No. 255) (Hydrocarbon Oils) Order, 1981
S.I. No. 404 of 1981	Imposition of Duties (No. 256) (Excise Duty on Hydrocarbon Oils) Order, 1981
S.I No. 48 of 1982	Imposition of Duties (No. 259) (Excise Duties) Order, 1982
S.I. No. 49 of 1982	Imposition of Duties (No. 260) (Excise Duty on Video Players) Order, 1982

PART III Value-Added Tax

74 Interpretation (Part III).

74.—In this Part—

“the Principal Act” means the Value-Added Tax Act, 1972;

“the Act of 1976” means the Finance Act, 1976;

“the Act of 1978” means the Value-Added Tax (Amendment) Act, 1978;

“the Act of 1981” means the Finance (No. 2) Act, 1981.

75 Amendment of section 3 (delivery of goods) of Principal Act.

75.—Section 3 of the Principal Act is hereby amended by the substitution of the following subsection for subsection (3):

“(3) (a) The supply by auction of livestock, live horses, live greyhounds, vegetables, fruit, flowers, poultry, eggs or fish shall be deemed, for the purposes of this Act, to constitute a supply of the goods to and simultaneously by the auctioneer.

(b) The supply through an agent of livestock, live horses or live greyhounds shall be deemed, for the purposes of this Act, to constitute a supply of the goods to and simultaneously by the agent.”.

76 Amendment of section 5 (rendering of services) of Principal Act.

76.—Section 5 of the Principal Act is hereby amended by the insertion after subsection (4) of the following subsection—

“(4A) Where services are supplied by a person and the person is not legally entitled to recover consideration in respect of or in relation to such supply but moneys are received in respect of or in relation to such supply, the services in question shall be deemed, for the purposes of this Act, to have been supplied for consideration and the moneys received shall be deemed to be consideration that the person who supplied the services in question became entitled to receive in respect of or in relation to the supply of those services.”.

77 Amendment of section 8 (accountable Persons) of Principal Act.

77.—Section 8 of the Principal Act is hereby amended—

(a) by the substitution in subsection (3) (inserted by the Act of 1978) of the following paragraph for paragraph (b):

“(b) a person whose supplies of taxable goods or services consist exclusively of—

(i) supplies to taxable persons and persons to whom section 13 (3) applies of fish (not further processed than gutted, salted and frozen) which he has caught in the course of a sea-fishing business, or

(ii) supplies of the kind specified in subparagraph (i) and of either or both of the following, that is to say:

(I) supplies of machinery, plant or equipment which have been used by him in the course of a sea-fishing business, and

(II) supplies of other goods and services the total consideration for which has not exceeded and is not likely to exceed £15,000 in any continuous period of 12 months.”,

(b) by the insertion after subsection (3) of the following subsection:

“(3A) Where a person who supplies services consisting of the training of horses for racing, the consideration for which has exceeded £15,000 in any continuous period of 12 months, would, but for the supply of such services, be a farmer, he shall be deemed to be a taxable person only in respect of the supply of those services and, in the absence of an election, shall, in relation to the supply of any of the goods and services specified in paragraph (a) and subparagraphs (i) and (iii) of paragraph (b) of the definition of ‘farmer’ in subsection (9) (inserted by the Act of 1978), be deemed not to be a taxable person.”,

and

(c) by the substitution in subsection (9) for the definition of “farmer” of the following definition:

“‘farmer’ means a person who engages in at least one Annex A activity and—

(a) whose supplies consist exclusively of either or both of the following, that is to say:

(i) supplies of agricultural produce, or

(ii) supplies of agricultural services, or

(b) whose supplies consist exclusively of either or both of the supplies specified in paragraph (a) and of one or more of the following, that is to say:

(i) supplies of machinery, plant or equipment which has been used by him for the purposes of an Annex A activity,

(ii) supplies of services consisting of the training of horses for racing the total consideration for which has not exceeded and is not likely to exceed £15,000 in any continuous period of 12 months, or

(iii) supplies of goods and services, other than those referred to in subparagraphs (i) and (ii) or paragraph (a), the total consideration for which has not exceeded and is not likely to exceed £15,000 in any continuous period of 12 months.”.

78 Amendment of section 10 (amount on which tax is chargeable) of Principal Act.

78.—Section 10 (inserted by the Act of 1978) of the Principal Act is hereby amended by the insertion of the following subsection after subsection (4):

“(4A) Where goods chargeable with a duty of excise are supplied while warehoused, and before payment of the duty, to an unregistered person, the amount on which tax is chargeable in respect of the supply shall be increased by an amount equal to the amount of duty that would be payable in relation to the goods if the duty had become due at the time of the supply.”.

79 Amendment of section 11 (rates of tax) of Principal Act.

79.—(1) Section 11 of the Principal Act is hereby amended—

(a) in subsection (1) (inserted by the Act of 1978)—

(i) in paragraph (a), by the substitution of “18 per cent.” for “15 per cent.” (inserted by the Act of 1981),

(ii) in paragraph (b), by the substitution of “(xva)” for “(xv)”, and

(iii) in paragraph (c) (inserted by the Finance Act, 1980), by the substitution of “30 per cent.” for “25 per cent.” (inserted by the Act of 1981),

(b) in subsection (2)—

(i) in paragraph (b) (inserted by the Act of 1978), by the substitution of “16.67 per cent.” for “20 per cent.” (inserted by the Act of 1981), and

(ii) in paragraph (c) (inserted by the Act of 1981), by the substitution of “16.67 per cent.” for “20 per cent.”, and

(iii) by the insertion after the said paragraph (c) of the following paragraphs:

“(d) On the supply by an auctioneer, solicitor, estate agent or other agent of services directly related to the supply of immovable goods used for the purposes of an Annex A activity tax shall be chargeable at the rate specified in subsection (1) (a) on 16.67 per cent. of the total amount on which tax is chargeable and at the rate of zero per cent. on the balance of the said total amount.

(e) On the supply of farm accountancy services or farm management services tax shall be chargeable at the rate specified in subsection (1) (a) on 16.67 per cent. of the total amount on which tax is chargeable and at the rate of zero per cent. on the balance of the said total amount.”.

(2) This section other than subsection (1) (b) (iii) shall have, and be deemed to have had, effect as on and from the 1st day of May, 1982.

80 Amendment of section 12 (deduction for tax borne or paid) of Principal Act.

80.—Section 12 of the Principal Act is hereby amended—

(a) in subsection (1) (inserted by the Act of 1978), by the substitution of the following paragraph for paragraph (b):

“(b) in respect of goods imported by him in the period, the tax paid by him or deferred as established from the relevant customs documents kept by him in accordance with section 16 (3),”,

and

(b) in subsection (3) (inserted by the Act of 1978), in subparagraph (v) of paragraph (a), by the insertion after “his business” of “or for activities in relation to which he is, in accordance with section 8 (3A), deemed not to be a taxable person”.

81 Amendment of section 12A (special provisions for tax invoiced by flat-rate farmers) of Principal Act.

81.—(1) Section 12A of the Principal Act (inserted by the Act of 1978) is hereby amended—

(a) in subsection (1), by the substitution of “1.8 per cent.” for “1.5 per cent.” (inserted by the Act of 1981), and

(b) by the substitution of the following subsection for subsection (2)—

“(2) In this Act ‘flat-rate farmer’ means a farmer who is not a taxable person and, in relation to the supplies specified in the definition of ‘farmer’ in section 8(9), includes a person who in accordance with section 8 (3A), is deemed not to be a taxable person.”.

(2) Subsection (1)(a) of this section shall have, and be deemed to have had, effect as on and from the 1st day of May, 1982.

82 Amendment of section 13 (remission of tax on goods exported etc.) of Principal Act.

82.—Section 13 of the Principal Act (inserted by the Act of 1978) is hereby amended by the deletion of subsections (4) and (5).

83 Amendment of section 14 (determination of tax due by reference to cash receipts) of Principal Act.

83.—Section 14 of the Principal Act (inserted by the Act of 1978) is hereby amended by the insertion in subsection (1) (b) after “of taxable services” of “(including services which, if they were supplied in such taxable period, would be taxable services)”.

84 Amendment of section 15 (charge of tax on imported goods) of Principal Act.

84.—(1) Section 15 (inserted by the Act of 1978) of the Principal Act is hereby amended by—

(a) the substitution in subsection (2) of “(xva)” for “(xv)”, and

(b) the insertion after subsection (6) of the following subsection:

“(6A) Regulation 26 of the Value-Added Tax Regulations, 1979 (S.I. No. 63 of 1979), is hereby revoked and tax charged under section 2 (1) (b) shall, in accordance with the provisions of the Customs Consolidation Act, 1876, and of other law in force in the State relating to customs, as applied to tax by subsection (6) and regulations thereunder, be paid in the manner and at the time that it would have been payable if that regulation had not been made.”.

(2) Subsection (1)(a) shall have, and be deemed to have had, effect as on and from the 1st day of May, 1982.

85 Amendment of section 16 (duty to keep records) of Principal Act.

85.—Section 16 of the Principal Act is hereby amended:

(a) in subsection (2), by the insertion after “such business” of “and, in respect of goods imported by him, copies, stamped on behalf of the Revenue Commissioners, of the relevant customs entries”, and

(b) in subsection (3)—

(i) by the deletion of “and invoices”,

(ii) by the insertion after “any books” of “invoices, copies, stamped on behalf of the Revenue Commissioners, of customs entries”, and

(iii) by the insertion after “the supply of goods or services” of “, or the importation of goods,”,

and the said subsections (other than the proviso to subsection (3)), as so amended, are set out in the Table to this section.

TABLE

(2) Every person, other than a taxable person, who supplied goods or services in the course or furtherance of any business shall keep all invoices issued to him in connection with the supply of goods or services to him for the purpose of such business and, in respect of goods imported by him, copies, stamped on behalf of the Revenue Commissioners, of the relevant customs entries.

(3) Records kept by a person pursuant to this section and any books, invoices, copies, stamped on behalf of the Revenue Commissioners, of customs entries, credit notes, debit notes, receipts, accounts, vouchers, bank statements or other documents whatsoever which relate to the supply of goods or services, or the importation of goods, by the person and are in the power, possession or procurement of the person, and in the case of any such book, invoice, credit note, debit note, receipt, account, voucher or other document which has been issued by the person to another person, any copy thereof which is in the power, possession or procurement of the person shall be retained in his power, possession or procurement for a period of six years from the date of the latest transaction to which the records or invoices or any of the other documents relate:

86 Amendment of section 26 (penalties generally) of Principal Act.

86.—Section 26 of the Principal Act is hereby amended—

(a) by the substitution of the following subsection for subsection (1):

“(1) A person who does not comply with section 9 (2), 11 (7), 12A, 16, 17, 18 (2) or 19 or any provision of regulations in regard to any matter to which the foregoing sections relate shall be liable to a penalty of £800.”,

(b) in subsection (2), by the substitution of “£500” for “£20”,

(c) in subsection (2A) (inserted by the Act of 1978), by the substitution of “£500” for “£20”,

(d) in subsection (3), by the substitution of “£500” for “£20”,

(e) in subsection (3A) (inserted by the Finance Act, 1973), by the substitution of “£800” for “£100”, and

(f) by the deletion of subsection (5).

87 Amendment of First Schedule to Principal Act.

87.—The First Schedule to the Principal Act (inserted by the Act of 1978) is hereby amended—

(a) by the deletion of paragraph (viii),

(b) by the substitution of the following subparagraph for subparagraph (b) of paragraph (ix):

“(b) the collection of insurance premiums,”,

and

(c) by the substitution of the following paragraph for paragraph (x):

“(x) services supplied in the course of their profession by veterinary surgeons;”.

88 Amendment of Second Schedule to Principal Act.

88.—(1) The Second Schedule (inserted by the Act of 1976) to the Principal Act is hereby amended—

(a) by the substitution of the following subparagraph for subparagraph (b) of paragraph (i) (inserted by the Act of 1978):

“(b) by a registered person within the customs-free airport to another registered person within the customs-free airport;”,

and

(b) by the insertion after paragraph (xv) (inserted by the Finance Act, 1973) of the following paragraph:

“(xva) printed books and booklets including atlases but not including newspapers, periodicals, brochures, catalogues, programmes, books of stationery, cheque books, diaries, albums, books of stamps, of tickets or of coupons;”.

(2) This section, other than subsection (1)(a), shall have, and be deemed to have had, effect as on and from the 1st day of May, 1982.

89 Amendment of Third Schedule to Principal Act.

89.—(1) Part I of the Third Schedule (inserted by the Act of 1976) to the Principal Act is hereby amended—

(a) by the substitution of the following paragraph for paragraph (vii):

“(vii) printed books and booklets other than—

(I) those specified in paragraph (xva) of the Second Schedule to which section 11 applies, and

(II) books of stationery, cheque books, diaries, albums and books of stamps, of tickets or of coupons;”,

(b) by the insertion in paragraph (x) after subparagraph (r) of the following subparagraph:

“(rr) timber joinery; and doors, door frames, window frames, window panels, staircases and roofing trusses of any material,”,

and

(c) by the substitution of the following paragraphs for paragraph (xxxi) (inserted by the Act of 1978):

“(xxxi) gramophone records;

(xxxii) furniture, including sections and parts thereof and furniture in kit form, of the following descriptions, that is to say—

(a) beds, including cots and cradles, but not including baby carriages,

(b) chairs, stools, kneelers, couches, and similar goods,

(c) tables, dressing tables, wardrobes, chests of drawers, tallboys, presses, lockers, desks, and similar goods,

(d) cabinets, including cabinets specially constructed for radios, record players, speakers and television sets,

(e) playpens, safety screens, shelves, shelving and shelving units, serving trolleys, hat and coat stands, and similar stands,

but not including furniture constructed or adapted for the playing of games or for physical exercise, musical instruments, ornaments, lamps, ash trays, log boxes, coal scuttles and other hearth furniture or furniture which incorporates or is fitted with any machine or appliance;

(xxxiii) (a) floor coverings, blinds, curtains including curtain materials and parts and accessories for the manufacture of curtains, and similar furnishings, but not including wall or ceiling coverings,

(b) blankets, mattresses, sheets, pillows and other articles of bed clothing, towels and towelling material,

(c) carpet wool and canvas,

(d) fabrics, padding materials, trimming materials, webbing and springs and springing material of a kind normally used in the manufacture of furniture, and

(e) curtain rails, tracks and pelmets including parts, accessories and curtain cord, parts and accessories for blinds, stair nosings and carpet grips;

(xxxiv) coffins and other goods of a kind commonly used to hold the remains of the dead including materials and accessories commonly used in the manufacture of such goods and not commonly used for any other purposes.”.

(2) This section shall have, and be deemed to have had, effect as and from the 1st day of May, 1982.

90 Relief for hotels etc.

90.—(1) In this section “qualifying service” means a service consisting of the supply, for the benefit of persons not resident in the State, under an agreement made before the 1st day of January, 1982, of sleeping accommodation, with or without board, or of motor cars upon hire, boats upon hire or entertainment, at charges fixed at the time of the making of the agreement, to persons carrying on the business of travel agent, tour operator or the hiring out of motor cars or boats.

(2) In respect of the taxable periods commencing on the 1st day of May, 1982, the 1st day of July, 1982, the 1st day of September, 1982, and the 1st day of November, 1982, notwithstanding the provisions of section 11 of the Principal Act (as amended by this Act), tax shall, in relation to the supply of a qualifying service, be, and be deemed to have been, chargeable, at the rate of 15 per cent.

PART IV Stamp Duties

91 Levy on banks.

91.—(1) In this section,

“assessable amount” means the amount arrived at by dividing the specified amount by three and deducting £5,000,000 from the quotient;

“bank” means a person who, on the 1st day of April, 1982, was the holder of a licence granted under section 9 of the Central Bank Act, 1971;

“returns”, in relation to a bank, means the monthly bank returns furnished to the Central Bank of Ireland by the bank in respect of the assets and liabilities of the bank as on the 30th day of September, 1981, the 21st day of October, 1981, and the 18th day of November, 1981;

“specified amount” means—

(a) in the case of an associated bank, the amount obtained by deducting the aggregate of the sums shown in the returns of that bank in respect of Item 7 in Appendix II of the returns as an adjustment of current accounts for cheques in transit from the aggregate of the sums shown in the returns in respect of current accounts and deposit accounts by whomsoever held at offices in the State of the bank and shown as liabilities of the bank in such returns;

(b) in the case of any other bank, the amount obtained by deducting the aggregate of the sums shown in the analysis of selected liabilities in the returns of that bank as due to banks (including banks that are not banks within the meaning of subsection (1) of this section) in respect of current accounts, deposit accounts, other accounts and secured loans from the aggregate of the sums shown in the returns in respect of current accounts, deposit accounts, other accounts and secured loans by whomsoever held at offices in the State of the bank and shown as liabilities of the bank in such returns.

(2) A bank shall, not later than the 15th day of September, 1982, deliver to the Revenue Commissioners a statement in writing showing the assessable amount for that bank, the specified amount for that bank and the sums referred to in the definition of “specified amount” in subsection (1) of this section by reference to which that specified amount was calculated.

(3) There shall be charged on every statement delivered in pursuance of subsection (2) of this section a stamp duty of an amount equal to the sum of the following:

(a) 0.2 per cent. of that part of the assessable amount shown therein that does not exceed £100,000,000, and

(b) 0.35 per cent. of that part of the assessable amount shown therein that exceeds £100,000,000:

Provided that in any case where the assessable amount shown in the statement does not exceed £100,000,000 stamp duty of an amount equal to 0.2 per cent. of the assessable amount shown therein shall be charged.

(4) The duty charged by subsection (3) of this section upon a statement delivered by a bank pursuant to subsection (2) of this section shall be paid by the bank upon delivery of the statement.

(5) There shall be furnished to the Revenue Commissioners by a bank such particulars as the Revenue Commissioners may deem necessary in relation to any statement required by this section to be delivered by the bank.

(6) In the case of failure by a bank to deliver any statement required by subsection (2) of this section within the time provided for in that subsection or of failure to pay the duty chargeable on any such statement on the delivery thereof, the bank shall, from the date of the passing of this Act until the day on which the duty is paid, be liable to pay, by way of penalty, in addition to the duty, interest thereon at the rate of 15 per cent. per annum and also from the 15th day of September, 1982, by way of further penalty, a sum equal to 1 per cent. of the duty for each day the duty remains unpaid and each penalty shall be recoverable in the same manner as if the penalty were part of the duty.

(7) The delivery of any statement required by subsection (2) of this section may be enforced by the Revenue Commissioners under section 47 of the Succession Duty Act, 1853, in all respects as if such statement were such account as is mentioned in that section and the failure to deliver such statement were such default as is mentioned in that section.

(8) The stamp duty charged by this section shall not be allowed as a deduction for the purposes of the computation of any tax or duty payable by the bank.

92 Levy on certain premiums of insurance.

92.—(1) In this section—

“assessable amount”, in relation to a quarter, means the gross amount received by an insurer by way of premiums in that quarter in respect of business carried on by the insurer in the State on or after the 1st day of August, 1982, but without having regard to an excluded amount;

“excluded amount” means—

(a) an amount received in the course or by way of re-insurance;

(b) a premium received in respect of business in the following classes of the Annex to First Council Directive 73/239/EEC of 24 July 1973 (OJ No. L228, 16/8/1973), namely, 5, 6, 7, 11 and 12, in classes 1 and 10 insofar as they relate to the insurance of passengers in marine and aviation vehicles and carriers liability insurance, respectively, and in class 14 insofar as it relates to export credit;

(c) a premium received in respect of business in class VII of the Annex to First Council Directive 79/267/EEC of 5 March 1979 (OJ No. L 63,13/3/1979);

“insurer” means a person who is the holder of an assurance licence under the Insurance Act, 1936, or is the holder of an authorisation within the meaning of the European Communities (Non-Life Insurance) Regulations, 1976 (S.I. No. 115 of 1976), or who carries on the business of insurance in compliance with the provisions of the Assurance Companies Act, 1909;

“premium” has the same meaning as in the Insurance Act, 1936;

“quarter” means a period of three months ending on the 31st day of March, the 30th day of June, the 30th day of September or the 31st day of December.

(2) An insurer shall, within 30 days from the end of the quarter ending on the 30th day of September, 1982, and within 30 days from the end of each quarter thereafter, deliver to the Revenue Commissioners a statement in writing showing the assessable amount for that insurer in respect of that quarter.

(3) There shall be charged on every statement delivered in pursuance of subsection (2) of this section a stamp duty of an amount equal to one per cent. of the assessable amount shown therein.

(4) The duty charged by subsection (3) of this section upon a statement delivered by an insurer pursuant to subsection (2) of this section shall be paid by the insurer upon delivery of the statement.

(5) There shall be furnished to the Revenue Commissioners by an insurer such particulars as the Revenue Commissioners may deem necessary in relation to any statement required by this section to be delivered by the insurer.

(6) In the case of failure by an insurer to deliver any statement required by subsection (2) of this section within the time specified in that subsection or of failure by an insurer to pay any duty chargeable on any such statement on the delivery thereof, the insurer shall be liable to pay, in addition to the duty, interest thereon at the rate of 15 per cent. per annum from the expiration of the quarter to which the statement relates until the day on which the duty is paid.

(7) The delivery of any statement required by subsection (2) of this section may be enforced by the Revenue Commissioners under section 47 of the Succession Duty Act, 1853, in all respects as if such statement were such account as is mentioned in that section and the failure to deliver such statement were such default as is mentioned in that section.

93 Exemption of certain instruments from stamp duty.

93.—(1) In this section “property” means agricultural land and includes such farm buildings and farm houses as are of a character appropriate to the property.

(2) Stamp duty shall not, subject to section 4 of the Stamp Act, 1891, be charged on any instrument to which this section applies.

(3) This section applies to an instrument, being a conveyance or transfer operating as a voluntary disposition inter vivos, where the instrument contains a certificate by the party to whom the property is being conveyed or transferred to the effect that the person becoming entitled to the entire beneficial interest in the property (or, where more than one person becomes entitled to a beneficial interest therein, each of them) is a qualified person.

(4) In this section “qualified person” means a person in respect of whom it is shown to the satisfaction of the Revenue Commissioners—

(a) that he was under the age of 35 years on the date on which the relevant instrument was executed, and

(b) either—

(i) that he is the holder of a certificate issued by—

(I) An Chomhairle Oiliúna Talmhaíochta certifying that he has satisfactorily completed an agricultural training course of a duration of not less than 100 hours, or

(II) the Farm Apprenticeship Board certifying that he has satisfactorily completed the course under the Farmer Apprenticeship Scheme of the Board or the course under the Trainee Farmer Scheme of the Board, or

(III) the Minister for Agriculture or a committee of agriculture established under the Agriculture Act, 1931, being a certificate issued before the 1st day of December, 1980, and certifying that he has satisfactorily completed a course equivalent to that referred to in paragraph (b) (i) (I) of this subsection,

or

(ii) that he is the holder of a university degree, or equivalent university qualification, in agriculture,

and

(c) that the property will be used for the purposes of agriculture.

(5) This section shall have effect with respect to any instrument executed after the date of the passing of this Act and before the expiration of two years after that date.

94 Amendment of First Schedule to Stamp Act, 1891.

94.—(1) In this section “the First Schedule” means the First Schedule, as amended by the Finance Act, 1970, and subsequent enactments, to the Stamp Act, 1891.

(2) The First Schedule (other than the Heading “CONVEYANCE or TRANSFER on sale, of any stocks or marketable securities.”, the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities.”, the Heading “LEASE” and the Heading “POLICY OF LIFE INSURANCE”), sections 56, 59, 62 and 106 of the Stamp Act, 1891, section 9 of the Finance Act, 1902, section 42 of the Finance Act, 1920, and section 30 of the Finance Act, 1961, are hereby amended by the substitution of “£5” for “fifty pence” in each place where it occurs.

(3) The Heading set out in Part I of the Fourth Schedule to this Act is hereby substituted for the Heading “DUPLICATE or COUNTERPART of any instrument chargeable with any duty.” in the First Schedule.

(4) (a) The Headings set out in Part II of the Fourth Schedule to this Act are hereby substituted for the Headings “POLICY OF LIFE INSURANCE.” and “POLICY OF LIFE INSURANCE made for a period not exceeding two years” in the First Schedule.

(b) (i) The following shall be exempt from all stamp duties:

(I) cover notes, slips and other instruments usually made in anticipation of the issue of a formal policy, not being instruments relating to life insurance;

(II) instruments embodying alterations of the terms or conditions of any policy of insurance other than life insurance;

and an instrument exempted by virtue of subparagraph (i) (I) of this paragraph shall not be taken for the purposes of the Stamp Act, 1891, to be a policy of insurance.

(ii) An instrument shall not be charged with duty exceeding £1 by reason only that it contains or relates to two or more distinct matters each falling within the Heading “POLICY of INSURANCE other than Life Insurance” (inserted by this subsection).

(5) The paragraph set out in Part III of the Fourth Schedule to this Act is hereby substituted for paragraph (4) of the Heading “CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities.” in the First Schedule.

(6) (a) Subject to paragraph (b) of this subsection, this section shall come into operation on the date of the passing of this Act.

(b) Subsection (4) of this section shall come into operation on the 1st day of August, 1982.

(c) The said subsection (4) shall not have effect with respect to any instrument referred to therein executed before the said 1st day of August, 1982, and the other provisions of this section shall not have effect with respect to any instrument executed before the date of the passing of this Act.

95 Amendment of section 41 (stamp duty on bills of exchange and promissory notes) of Finance Act, 1970.

95.—(1) Section 41 of the Finance Act, 1970, is hereby amended by the substitution of “5p” for “3p” (inserted by the Finance Act, 1981) in both places where it occurs.

(2) The Imposition of Duties (No. 252) (Stamp Duty on Bills of Exchange and Promissory Notes) Order, 1981 (S.I. No. 271 of 1981), is hereby revoked.

(3) This section shall have effect with respect to bills of exchange and promissory notes drawn on or after the date of the passing of this Act.

96 Amendment of section 19 (conveyance or transfer on sale — limit on stamp duty in respect of certain transactions between bodies corporate) of Finance Act, 1952.

96.—(1) Section 19 (inserted by the Finance Act, 1980) of the Finance Act, 1952, is hereby amended by the substitution of the following subsection for subsection (1):

“(1) Stamp duty chargeable under or by reference to the heading ‘Conveyance or Transfer on Sale of any property other than stocks or marketable securities’ in the First Schedule to the Stamp Act, 1891, on any instrument to which this section applies shall be charged at the rate of £1 for every £50 or fractional part of £50 of the amount or value of the consideration for the sale, or, in the case of a conveyance or transfer operating as a voluntary disposition inter vivos, of the value of the property conveyed or transferred.”.

(2) The Imposition of Duties (No. 253) (Limit on Stamp Duty in respect of Certain Transactions between Bodies Corporate) Order, 1981 (S.I. No. 272 of 1981), is hereby revoked.

(3) This section shall not have effect with respect to any instrument executed before the date of the passing of this Act.

PART V Capital Acquisitions Tax

97 Interpretation (Part V).

97.—In this Part “the Principal Act” means the Capital Acquisitions Tax Act, 1976.

98 Exemption of certain benefits.

98.—Where a gift or an inheritance is taken, by direction of the disponer, free of tax on or after the date of the passing of this Act, the benefit taken shall be deemed to include the amount of tax chargeable on such gift or inheritance but not the amount of tax chargeable on such tax.

99 Amendment of section 5 (gift deemed to be taken) of Principal Act.

99.—Section 5 (6) of the Principal Act shall, as respects a gift or inheritance deemed to be taken on or after the 2nd day of June, 1982, have effect as if—

(a) in paragraph (a), “, before the 28th day of February, 1974,” were deleted, and

(b) in paragraph (b), “prior to the 28th day of February, 1974” were deleted.

100 Amendment of section 19 (value of agricultural property) of Principal Act.

100.—Section 19 of the Principal Act shall, as respects a gift or inheritance taken on after the 1st day of April, 1982, have effect as if “£200,000” were substituted for “£150,000” (inserted by the Finance Act, 1980) in each place where it occurs.

101 Amendment of section 36 (delivery of returns) of Principal Act.

101.—(1) Section 36 of the Principal Act is hereby amended by the substitution of the following subsection for subsection (3) (inserted by the Finance Act, 1978)—

“(3) Subsection (2) applies to a gift where—

(a) the taxable value of such gift, so far as it is a taxable gift, exceeds an amount which is 80 per cent. of the lowest value upon which, at the date of such gift, tax becomes chargeable in respect of a gift taken by the donee of such gift from the disponer thereof,

(b) the taxable value of such gift, so far as it is a taxable gift, falls to be aggregated with gifts taken by the donee of such gift, either on or before the date of such gift, from any disponer and thereby increases the total taxable value of all taxable gifts so aggregated taken by such donee from any disponer from an amount which is less than or equal to the amount specified in paragraph (a) to an amount which exceeds the amount so specified,

(c) the taxable value of such gift, so far as it is a taxable gift, falls to be aggregated with gifts taken by the donee of such gift, either on or before the date of such gift, from any disponer and thereby increases the total taxable value of all taxable gifts so aggregated taken by such donee from any disponer from an amount which is greater than the amount specified in paragraph (a), or

(d) the donee is required by notice in writing by the Commissioners to deliver a return,

and for the purposes of this subsection, a reference to a gift or to a taxable gift includes a reference to a part of a gift or to a part of a taxable gift, as the case may be.”.

(2) This section shall have effect in relation to gifts taken on or after the 2nd day of June, 1982.

102 Amendment of Second Schedule to Principal Act.

102.—(1) The Second Schedule to the Principal Act is hereby amended—

(a) in Part I—

(i) by the substitution of the following paragraphs for paragraphs 3, 4 and 7:

“3. Subject to the provisions of paragraph 6, the tax chargeable on the taxable value of a taxable gift or a taxable inheritance, in the case where the donee or successor has taken no other taxable gift or taxable inheritance on or after the 2nd day of June, 1982, to which the same appropriate Table applied, shall be computed at the rate or rates of tax applicable to that taxable value under that appropriate Table.

(a) that taxable value; and

(b) the taxable values of all such previous taxable gifts and taxable inheritances,

as is the highest part of that aggregate and is equal to that taxable value.

(ii) by the insertion after paragraph 10 (inserted by the Finance Act, 1981) of the following paragraph:

“11. For the purposes of this Schedule, a reference to a gift or an inheritance, or to a taxable gift or a taxable inheritance, includes a reference to a part of a gift or an inheritance, or to a part of a taxable gift or a taxable inheritance, as the case may be.”,

and

(b) in paragraph 1 of Part I and in Part II, by the insertion of “or disponers” after “disponer”, in each place where it occurs.

(2) This section shall have effect in relation to gifts and inheritances taken on or after the 2nd day of June, 1982.

PART VI Miscellaneous

103 Capital Services Redemption Account.

103.—(1) In this section—

“the principal section” means section 22 of the Finance Act, 1950;

“the 1981 amending section” means section 51 of the Finance Act, 1981;

“the thirty-second additional annuity” means the sum charged on the Central Fund under subsection (4) of this section;

“the Minister”, “the Account” and “capital services” have the same meanings respectively as they have in the principal section.

(2) In relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of December, 1982, subsection (4) of the 1981 amending section shall have effect with the substitution of “£29,731,201” for “£29,870,308”.

(3) Subsection (6) of the 1981 amending section shall have effect with the substitution of “£18,767,875” for “£19,228,162”.

(4) A sum of £35,938,852 to redeem borrowings, and interest thereon, in respect of capital services shall be charged annually on the Central Fund or the growing produce thereof in the thirty successive financial years commencing with the financial year ending on the 31st day of December, 1982.

(5) The thirty-second additional annuity shall be paid into the Account in such manner and at such times in the relevant financial year as the Minister may determine.

(6) Any amount of the thirty-second additional annuity, not exceeding £23,134,615 in any financial year, may be applied towards defraying the interest on the public debt.

(7) The balance of the thirty-second additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.

104 Care and management of taxes and duties.

104.—All taxes and duties imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.

105 Short title, construction and commencement.

105.—(1) This Act may be cited as the Finance Act, 1982.

(2) Part I of this Act (so far as relating to income tax) shall be construed together with the Income Tax Acts and (so far as relating to corporation tax) shall be construed together with the Corporation Tax Acts and (so far as relating to capital gains tax) shall be construed together with the Capital Gains Tax Acts.

(3) Part II of this Act (so far as relating to customs) shall be construed together with the Customs Acts and (so far as relating to duties of excise) shall be construed together with the statutes which relate to the duties of excise and to the management of those duties.

(4) Part III of this Act shall be construed together with the Value-Added Tax Acts, 1972 to 1981, and may be cited together therewith as the Value-Added Tax Acts, 1972 to 1982.

(5) Part IV of this Act shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.

(6) Part V of this Act shall be construed together with the Capital Acquisitions Tax Act, 1976, and the enactments amending or extending that Act.

(7) Part I of this Act shall, save as is otherwise expressly provided therein, be deemed to have come into force and shall take effect as on and from the 6th day of April, 1982.

(8) Part III of this Act shall, save as is otherwise expressly provided therein, come into force as on and from the 1st day of September, 1982.

(9) Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment including this Act.

FIRST SCHEDULE Amendment of Enactments

Amendments Consequential on Changes in Personal Reliefs

(a) in section 138—

(i) in paragraph (a), by the substitution of “£2,900” for “£2,230” where it first occurs and by the deletion of the proviso thereto,

(ii) in paragraph (b), by the substitution of “£1,950” for “£1,185” and of “£2,900” for “£2,230”, and

(iii) in paragraph (c), by the substitution of “£1,450” for “£1,115”,

(b) in section 138A—

(i) by the substitution for “he shall be entitled to a deduction of £650” of “he shall be entitled, if he is an individual to whom paragraph (b) (i) of section 138 applies, to a deduction of £950 or, if he is an individual to whom paragraph (c) of section 138 applies, to a deduction of £1,450”, and

(ii) by the substitution for “her husband” of “her husband, or in the case of a man and woman who are living together as man and wife”,

(c) sections 139 and 140 shall not apply or have effect,

(d) in section 141, in subsection (1A), by the substitution of “£100” for “£195”,

(e) in section 142, in subsection (1), by the substitution of “£110” for “£95” in each place where it occurs.

SECOND SCHEDULE Amendments Consequential on Changes in Rates of Corporation Tax

Part I Application of sections 182 and 184 (relief in respect of certain losses and capital allowances) of Corporation Tax Act, 1976

Part II Amendment of Chapter VI (Corporation Tax: Relief in Relation to Certain Income of Manufacturing Companies) of Finance Act, 1980

“shall be reduced—

(a) by seven-ninths in so far as it is corporation tax charged on profits which, under section 6 (3) of the Corporation Tax Act, 1976, are apportioned to the financial year 1981, and

(b) by four-fifths in so far as it is corporation tax charged on profits which, under the said section 6 (3), are apportioned to the financial year 1982,

and the corporation tax referable to the income from the sale of those goods—

(i) shall, for the purposes of paragraph (a), be such an amount as bears to the part of the relevant corporation tax charged on profits which, under the said section 6 (3), are apportioned to the financial year 1981 the same proportion as the income from the sale of those goods bears to the total income brought into charge to corporation tax for the relevant accounting period, and

(ii) shall, for the purposes of paragraph (b), be such an amount as bears to the part of the relevant corporation tax charged on profits which, under the said section 6 (3), are apportioned to the financial year 1982 the same proportion as the income from the sale of those goods bears to the total income brought into charge to corporation tax for the relevant accounting period.”.

(a) in paragraph (i) of section 47 (2), by the substitution of “5”/4 for “9”/7,

(b) in paragraph (ii) of the said section 47 (2), by the substitution of “1”/4 for “2”/7, and

(c) in paragraph (ii) of section 48 (2), by the substitution of “1”/4 for “2”/7

THIRD SCHEDULE Profit Sharing Schemes

Part I Approval of Schemes

1.—(1) On the application of a body corporate (in this Schedule referred to as “the company concerned”) which has established a profit sharing scheme which complies with subparagraphs (3) and (4), the Revenue Commissioners, subject to section 52 of this Act, shall approve of the scheme—

(a) if they are satisfied as mentioned in paragraph 2, and

(b) unless it appears to them that there are features of the scheme which are neither essential nor reasonably incidental to the purpose of providing for employees and directors benefits in the nature of interests in shares.

(2) Where the company concerned has control of another company or companies, the scheme may be expressed to extend to all or any of the companies of which it has control; and in this Schedule a scheme which is expressed so to extend is referred to as a “group scheme” and, in relation to a group scheme, the expression “participating company” means the company concerned or a company of which for the time being the company concerned has control and to which for the time being the scheme is expressed to extend.

(3) The scheme must provide for the establishment of a body of persons resident in the State (in this Schedule referred to as “the trustees”)—

(a) who, out of moneys paid to them by the company concerned or, in the case of a group scheme, a participating company, are required by the scheme to acquire shares in respect of which the conditions in Part II of this Schedule are fulfilled;

(b) who are under a duty to appropriate shares acquired by them to individuals who participate in the scheme, not being individuals who are ineligible by virtue of Part III of this Schedule; and

(c) whose functions with respect to shares held by them are regulated by a trust which is constituted under the law of the State and the terms of which are embodied in an instrument which complies with the provisions of Part IV of this Schedule.

(4) The scheme must provide that the total of the initial market values of the shares appropriated to any one participant in a year of assessment will not exceed £1,000.

(5) An application under subparagraph (1) shall be made in writing and contain such particulars and be supported by such evidence as the Revenue Commissioners may require.

2.—(1) The Revenue Commissioners must be satisfied that at any time every person who—

(a) is then a full-time employee or director of the company concerned or, in the case of a group scheme, a participating company, and

(b) has been such an employee or director at all times during a qualifying period, not exceeding five years, ending at that time, and

(c) is chargeable to tax in respect of his office or employment under Schedule E,

will then be eligible, subject to Part III of this Schedule, to participate in the scheme on similar terms.

(2) For the purposes of subparagraph (1), the fact that the number of shares to be appropriated to the participants in a scheme varies by reference to the levels of their remuneration, the length of their service or similar factors shall not be regarded as meaning that the participants are not eligible to participate in the scheme on similar terms.

3.—(1) If, at any time after the Revenue Commissioners have approved of a scheme—

(a) a participant is in breach of any of his obligations under paragraphs (a), (c) and (d) of section 52 (1),

(b) there is, with respect to the operation of the scheme, any contravention of any provision of Chapter IX of Part I of this Act, the scheme itself or the terms of the trust referred to in paragraph 1 (3) (c),

(c) any shares of a class of which shares have been appropriated to participants receive different treatment in any respect from the other shares of that class, in particular, different treatment in respect of—

(i) the dividend payable,

(ii) repayment,

(iii) the restrictions attaching to the shares, or

(iv) any offer of substituted or additional shares, securities or rights of any description in respect of the shares,

or

(d) the Revenue Commissioners cease to be satisfied as mentioned in paragraph 2,

they may, subject to subparagraph (3), withdraw the approval with effect from that time or from such later time as they may specify.

(2) If, at any time after the Revenue Commissioners have approved of a scheme, an alteration is made in the scheme or the terms of the trust referred to in paragraph 1 (3) (c), the approval shall not have effect after the date of the alteration unless they have approved of the alteration.

(3) It shall not be a ground for withdrawal of approval of a scheme that shares which have been newly issued receive, in respect of dividends payable with respect to a period beginning before the date on which the shares were issued, treatment which is less favourable than that accorded to shares issued before that date.

4.—(1) If the company concerned is aggrieved by—

(a) the failure of the Revenue Commissioners to approve of a scheme,

(b) the failure of the Revenue Commissioners to approve of an alteration as mentioned in paragraph 3 (2), or

(c) the withdrawal of approval,

the company may, by notice in writing given to the Revenue Commissioners within thirty days from the date on which it is notified of their decision, make an application to have its claim for relief heard and determined by the Appeal Commissioners.

(2) Where an application is made under subparagraph (1), the Appeal Commissioners shall hear and determine the claim in like manner as an appeal made to them against an assessment and all the provisions of the Income Tax Acts relating to such an appeal (including the provisions relating to the rehearing of an appeal and to the statement of a case for the opinion of the High Court on a point of law) shall apply accordingly with any necessary modifications.

Part II Conditions as to the Shares

(a) the company concerned;

(b) a company which has control of the company concerned; or

(c) a company which either is or has control of a company which—

(i) is a member of a consortium owning either the company concerned or a company having control of that company; and

(ii) beneficially owns not less than three-twentieths of the ordinary share capital of the company so owned.

(a) shares of a class quoted on a recognised stock exchange;

(b) shares in a company which is not under the control of another company; or

(c) shares in a company which is under the control of a company (other than a company which is or would if resident in the State be a close company within the meaning of section 94 of the Corporation Tax Act, 1976) whose shares are quoted on a recognised stock exchange.

(a) fully paid up;

(b) not redeemable; and

(c) not subject to any restrictions other than restrictions which attach to all shares of the same class.

(a) persons who acquired their shares in pursuance of a right conferred on them or an opportunity afforded to them as a director or employee of the company concerned or any other company and not in pursuance of an offer to the public;

(b) trustees holding shares on behalf of persons who acquired their beneficial interests in the shares in pursuance of such a right or opportunity as is mentioned in subparagraph (a); and

(c) in a case where the shares fall within paragraph 6 (c) and do not fall within paragraph 6 (a), companies which have control of the company whose shares are in question or of which that company is an associated company within the meaning of section 102 of the Corporation Tax Act, 1976.

Part III Individuals Ineligible to Participate

(a) a company which controls or is controlled by that company or which is controlled by a company which also controls that company, or

(b) a company which is a member of a consortium owning that company or which is owned in part by that company as a member of a consortium.

11.—(1) An individual shall not be eligible to have shares appropriated to him under the scheme at any time if at that time he has, or at any time within the preceding twelve months he had, a material interest in a close company which is—

(a) the company whose shares are to be appropriated; or

(b) a company which has control of that company or is a member of a consortium which owns that company.

(2) Subparagraph (1) shall apply in relation to a company which would be a close company but for—

(a) section 94 (1) (a) of the Corporation Tax Act, 1976; or

(b) section 95 of the Corporation Tax Act, 1976.

(3) (a) In this paragraph “close company” has the meaning assigned to it by section 94 of the Corporation Tax Act, 1976.

(b) For the purpose of this paragraph—

(i) section 97 (6) of the Corporation Tax Act, 1976, shall have effect, with the substitution of a reference to 15 per cent. for any reference therein to 5 per cent., for the purpose of determining whether a person has or had a material interest in a company, and

(ii) section 103 (3) of the Corporation Tax Act, 1976, shall have effect—

(I) in a case where the scheme in question is a group scheme, with the substitution of a reference to all the participating companies for the first reference to the company in paragraph (ii) of the proviso to that subsection, and

(II) with the substitution of a reference to 15 per cent. for the reference in that paragraph to 5 per cent.

Part IV Provisions as to the Trust Instrument

(a) specifying the number and description of those shares; and

(b) stating their initial market value.

13.—(1) The trust instrument must contain a provision prohibiting the trustees from disposing of any shares, except as mentioned in paragraphs (a), (b) or (c) of section 52 (3), during the period of retention (whether by transfer to the participant or otherwise).

(2) The trust instrument must contain a provision prohibiting the trustees from disposing of any shares after the end of the period of retention and before the release date except—

(a) pursuant to a direction given by or on behalf of the participant or any person in whom the beneficial interest in his shares is for the time being vested; and

(b) by a transaction which would not involve a breach of the participant's obligation under paragraph (c) or paragraph (d) of section 52 (1).

(a) subject to any such direction as is referred to in section 54 (3), to pay over to the participant any money or money's worth received by them in respect of, or by reference to, any of his shares, other than money consisting of a sum referred to in section 52 (1) (c) or money's worth consisting of new shares within the meaning of section 55; and

(b) to deal only pursuant to a direction given by or on behalf of the participant (or any such person as is referred to in paragraph 13 (2) (a)) with any right conferred in respect of any of his shares to be allotted other shares, securities or rights of any description.

(a) to maintain such records as may be necessary to enable the trustees to carry out their obligations under Chapter IX of Part I of this Act; and

(b) where the participant becomes liable to income tax under Schedule E by reason of the occurrence of any event, to inform him of any facts relevant to determining that liability.

Part V Interpretation

FOURTH SCHEDULE Stamp Duty on Instruments

Part I

DUPLICATE or COUNTERPART of any instrument chargeable with any duty.
Where such duty does not amount to £5.00	The same duty as the original instrument.
In any other case	£5.00

Part II

POLICY OF LIFE INSURANCE.
Where the sum insured exceeds £50 but does not exceed £1,000:
For every full sum of £100, and also for any fractional part of £100, of the amount insured	10p.
Exceeds £1,000:
For every full sum of £1,000, and also for any fractional part of £1,000, of the amount insured	£1.00
POLICY OF LIFE INSURANCE made for a period not exceeding two years	10p.
POLICY OF INSURANCE other than Life Insurance.
Where there is one premium only and the amount thereof equals or exceeds £15 or, where there is more than one premium and the total amount payable in respect thereof in any period of 12 months equals or exceeds £15	£1.00.

Part III

(4) Where in the case of a conveyance or transfer on sale or in the case of a conveyance or transfer operating as a voluntary disposition inter vivos the consideration for the sale or the value of the property exceeds one thousand pounds and the instrument contains a certificate by the party to whom the property is being conveyed or transferred to the effect that the person becoming entitled to the entire beneficial interest in the property (or, where more than one person becomes entitled to a beneficial interest therein, each of them) is related to the person or each of the persons immediately theretofore entitled to the entire beneficial interest in the property in one or other of the following ways, that is to say, as a lineal descendant, parent, grand-parent, step-parent, husband or wife, brother or sister of a parent or brother or sister, or lineal descendant of a parent, husband or wife or brother or sister:—

A duty of an amount equal to one-half of the amount of the ad valorem stamp duty which, but for the provisions of this paragraph, would be chargeable under this Heading.