Passenger57
Registered User
- Messages
- 5
Hi,
I am in the process of purchasing (this is a straight purchase rather than an inheritance or gift) agricultural land from a direct relative and was under the impression that as we meet the criteria laid on revenue site below that I would qualify for the lower stamp duty.
https://www.revenue.ie/en/property/stamp-duty/exemptions-and-reliefs/reliefs-for-farmers.aspx
However my solicitor was under the impression that Consanguinity Relief only applies when it is the transfer of land for succession purposes.
The Review of Consanguinity Relief 2023 below says "a rate of stamp duty of 1% (as opposed to the normal non-residential rate of 7.5%) will apply where a transfer of such land (by sale/purchase, exchange or gift) is made to certain close relations."
https://assets.gov.ie/273336/e2ae8e53-2290-45d6-a5f8-62b4cbaf8082.pdf
I am going to seek professional tax advice for clarification but I was wondering if anybody on the forum had practical experience or knowledge to draw on.
I am in the process of purchasing (this is a straight purchase rather than an inheritance or gift) agricultural land from a direct relative and was under the impression that as we meet the criteria laid on revenue site below that I would qualify for the lower stamp duty.
https://www.revenue.ie/en/property/stamp-duty/exemptions-and-reliefs/reliefs-for-farmers.aspx
However my solicitor was under the impression that Consanguinity Relief only applies when it is the transfer of land for succession purposes.
The Review of Consanguinity Relief 2023 below says "a rate of stamp duty of 1% (as opposed to the normal non-residential rate of 7.5%) will apply where a transfer of such land (by sale/purchase, exchange or gift) is made to certain close relations."
https://assets.gov.ie/273336/e2ae8e53-2290-45d6-a5f8-62b4cbaf8082.pdf
I am going to seek professional tax advice for clarification but I was wondering if anybody on the forum had practical experience or knowledge to draw on.