The position is that at end-September stamp duty receipts were down 13% or €110 million in year-on-year terms. However, it is important to point out that the year-on-year decrease is primarily due to the cessation of the pension levy (which accounted for €159 million of stamp duty receipts last year at end-September 2015) in December 2015. Therefore, excluding the pension levy receipts last year, the underlying stamp duties position is showing a year-on-year improvement of c. €49 million or 7%.
In relation to the under-performance against profile at end-September 2016, this is primarily due to a combination of factors. The first relates to the fact that the 2015 receipts finished the year €52 million or 3.9% below the revised 2015 forecast set out in Budget 2016. The second reason is primarily due to a reduction in 2016 in respect of the number of share disposals, down c. €90 million or 24% against profile.
The following table provides a breakdown of stamp duties on a revenue net receipts basis into the requested components at end-September 2015 and 2016.
|
Stamp Duty Component
|
At-end September 2015
|
At end-September 2016
|
|
Shares
|
€323 million
|
€287 million
|
|
Property Residential
|
€88 million
|
€91 million
|
|
Property Non- Residential
|
€126 million
|
€193 million
|
