thejuggler
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If the area of the house or flat is greater than 125 sq. metres (1,346 sq. feet), some stamp duty is payable if the Chargeable Consideration is above the relevant exemption threshold. (The stamp duty is assessed on either the cost of the site or 25% of the cost of the site plus the building costs (less VAT), whichever is the greater figure. This figure is called the Chargeable Consideration.
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
The only sticking point would be if the site is valued at more than this as it is the higher value that is used.
brighteyes said:we are in the same dilemma with a new house on mkt for 275k, we are not first time buyers but will be owner occupiers but the auctioneer says that the builder doesn't calculate the stamp duty in the way that you all have been mentioning (chargeable consideration) - he wants us to pay the rate of 5% ?
we have looked on the daft website, sherry fitzgerald website & the revenue website and have got 3 different explanations of how to calculate the sd - where to from here ? how can we be sure what amount sd is due if any ????
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