Legal notices 240 and 241 introduce the reduced stamp duty and property transfer tax on immovable property transfers announced during the Covid-19 Regeneration Budget. All transfers of immovable property occurring between 9th June 2020 and 1st April 2021, and registered by 30th April 2021, which would have been subject to a property transfer tax of 8% or 10% of the transfer value, will be subject to a reduced property transfer tax of 5% for the first €400,000 of transfer value. Similarly, inter vivos transfer made during the same period and also registered by the 30th April 2021, will be subject to a reduced stamp duty rate of €1.50 per €100 of value, for the first €400,000 of value. Any transfer over and above a value of €400,000 will be subject to the normal property transfer tax of 8% or 10% (as applicable) and 5% stamp duty. In the case of an acquisition of an undivided share of property, the benefit shall apply on a pro rata basis according to the share of the property being acquired.