Stamp duty

[munsterman25]

Am I right in saying that on a site purchase of 130K I would have to pay 10,400k stamp duty (8%).

We are both first time buyers. Is there any exemption for us when buying land?

 

[Vanilla]

You are correct. There is no exemption unless you are also entering into a related contract with the vendor to build your house, or unless you are a blood relation of the vendor.

 

[munsterman25]

I assume when you go over a limit, ie lets say over 130K its 8%, the whole amount is liable for the 8% and not just the amount over the limit

 

[Vanilla]

Sadly, yes the whole amount is liable.