Stamp duty on Parking Space

[MonkeyFeet]

I have recently purchased a parking space for my apartment.

I have been living in my apartment for 4 1/2 years now, while I couldn't afford to purchase the parking space initially the opportunity arose to buy one last year. I bought it as a first time buyer and paid no stamp duty as it was a new property.

My neighbour sold her apartment with one parking space but also had a second parking space which she sold to me.

I paid €30000 for the parking space, which took a while to complete due to the parking space being on the deed of another apartment.

My solicitor has just rang to inform me that Revenue have deemed this purchase as a commercial purchase and as a result I must pay stamp duty. The bill comes to €690!! Not a nice way to start the year.

Can anyone help me, is this correct? I'll be using the parking space for my own personal use, and I live at the same address.

Thanks for your help

 

[MsGinger]

We were going to purchase a second parking space at the apartment we used to own (pulled out of the purchase as eventually decided to sell apt instead). The cost of the space was €12000 and our solictor told us we would have to pay stamp duty on this. I can't remember the exact figure but I think it was in the region of €300.

 

[noilh]

Yes MonkeyFeet you would have to pay stamp duty at the rate of 2% on the 30,000; if you had bought the car-parking space in conjunction with the apartment and if no duty was payable on the apartment then the car-parking space would also have been exempt.
Since you are buying it as a stand alone transaction it is classed as non-residential property and duty is payable.