Stamp duty confusion on property.

P

Philo123

Guest
Hi there,
Im looking at a new build (owner occupier not FTB) which is 2000sqft.
According to the EA there is no stamp duty on this property.
However every site I've looked at tells me there is as its
over 1346sqft and the property is 330k which would mean
an extra 19800 (6%)

Im really confused, any ideas why I would be told this?

Thanks.
 
The EA is more than likely incorrect-never depend on them for advice re. stamp duty. Speak to your solicitor or Revenue for clarification.

As far as I know, stamp duty will be payable as the house is over the relevant threshold, but it will be reduced.
 
if its a new build and the purchase price Less Vat is divided by a quarter and if this value is under the stamp duty threshold of 127000 then no stamp is yo be paid AFAIK.

Ie from revenue Site

Over Floor Area of 125 sq. m



New houses or apartments which are purchased by an owner occupier (including a first time buyer) where the total floor area exceeds 125 square metres are charged with duty, at the appropriate residential property rate as per the table above, on the site value (excluding VAT) or one quarter of the total value of the house including the site (excluding VAT), whichever is the greater, subject to clawback. The size of the floor area must be certified by a qualified architect, engineer or surveyor
 
i am interested in buying a new build also not a FTB, 1638 sq ft. The house is completed and site value is €110k and total house price is 330K. Am i correct in saying that it is the greater of total build 25% of 330K(ex Vat) =72687K or site 110k.
Am i correct in saying that it is exempt from vat as it falls below 127k
 
Site vale also comes into the equation.

If the site value is below a certain threshold, no SD applicable.
This comes into play on a lot of new builds outside of Dublin where the site value is a lot lower that in Dublin
 
the site value is 110K
The total build(€290748 +vat ) is 330k(including site)
Therefore 25% 0f 290748 is €72687
The site value is higher but falls below 127k so wondering am i exempt. Would save a nice few grand!!
 
Our new house is 1200 sq ft cost €330k but no stamp duty and we double checked with solicitor?
 
Thrifty1 said:
Our new house is 1200 sq ft cost €330k but no stamp duty and we double checked with solicitor?
Click to expand...
This was exempt due to the 1200 sq ft (<125sqm or 1346sqft).

For sites over 125sqm the details are as above...
where the total floor area exceeds 125 square metres are charged with duty, at the appropriate residential property rate as per the table above, on the site value (excluding VAT) or one quarter of the total value of the house including the site (excluding VAT), whichever is the greater
Click to expand...
Calculate the site value (ex VAT), calculate 1/4 of the total value and use whichever is the larger figure. If you're coming in below the threshold 127k [as set out in the SD tables] then SD is not payable.
 
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