As highlighted by the Irish Times today, a charge to stamp duty arises on residential tenancies where the annual rent exceeds €30,000 a year (€2,500 per month). With average monthly rents surpassing boom time figures, many tenants may be caught unawares by this tax charge, amounting to 1% of the annual rent.

Stamp duty is payable through Revenue's Online Service (ROS) and many ordinary tenants will not currently have access to this service. It is also worth noting that documents which are liable to stamp duty (i.e. the lease in this case) which have not been correctly stamped, cannot be relied upon in court. Estate agents, in particular, may want to consider the implications for landlords and tenants and whether their standard form lease deals with the stamp duty liability.  In a well drafted lease, the tenant will be obliged to pay the stamp duty.