Stamp Duty on value of site & house

[showmedmoney]

Hello All,

If you bought a new 300k house from plans, what is the stamp duty you pay if you are not a FTB. is the stamp duty calucalated on the value of the Site & House or just the value of the house.

e.g Purchase property for 300K

Site valued at 180K
House valued at 120k

is there a case where you would only pay the stamp duty on the 120K (house),

thanks

 

[woods]

Hello All,

If you bought a new 300k house from plans, what is the stamp duty you pay if you are not a FTB. is the stamp duty calucalated on the value of the Site & House or just the value of the house.

e.g Purchase property for 300K

Site valued at 180K
House valued at 120k

is there a case where you would only pay the stamp duty on the 120K (house),

thanks

I think that it is the other way round and you pay on the site but not the house. This is supposing that you sign 2 seperate contracts (which is normal with new properties). One contract is to buy the site. The other contract is to have a house built on your site and is not subject to stamp duty.

 

[sloggi]

Yup, stamp duty only payable on the value of the site

 

[irishpancake]

Yup, stamp duty only payable on the value of the site

see this [broken link removed] for full info.


basically, if property floor area < 125 sq.m no Stamp Duty payable, regardless of FTB status.

If > 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

Table referred to is in the link above.

Are you sure of the site pricing, as quoted above, as it would leave you liable for SD, under the "whichever is greater" rule??

Remember, 25% of the total value of house+site is only €75K, well under the exemption limit (< €127k).