Land being gifted, stamp duty etc

[bond-007]

Say a plot of land is gifted to someone, no money changes hands. Is the transfer liable to stamp duty and how is it calculated?

 

[mf1]

From Revenue - SD10A

"Gifts
A transfer by way of gift is chargeable in the same manner as a transfer on sale with the substitution of the market value of the property for the consideration. In the case of a gift, the appropriate transaction certificate (see Nos. 8C-F in Table 4) should be inserted and amended to substitute market value for consideration as appropriate."

mf

 

[bond-007]

Thanks for that mf1.

Would first time buyer status come into it at all, as he intends to built a house on the land and live in it?

 

[mf1]

No. FTB stamp duty relief applies only to residential property (house)- not the land.

mf