Buying a site to build a house on price 300k estmate cost of Building 200k. I take it the Stamp duty rate is 9% on the 500k full price (45k).
At what stage does this get paid over?.
Is it before building commences or is it staggered over the buying of the site and then the finishing of the building?
Mike you only pay the stamp on the site value, it is usually paid in full before you commence the solicitor will do this along with the land registry.
As far as i am aware stamp duty of 9% is applied to all site's over a value of €150,000 and is capped at 9%!
are you buying the site and then employing a builder to build? If so then you pay 9% on the market value of the site, payable when you complete the purchase.
Provided no building work has been done before you buy the site - then i don't see why you'd pay stamp duty on projected works.
Am buying site and then getting builder to demolish existing cottage and build new house (site already has FPP). If Site and Building costs me total 550k (aggregate), I doubt if I have pay on the mkt value- say if it is 700k afterwards, correct?