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I am getting a gift of an apartment from my mother. I am thinking of buying a second new apartment in the same block. The value of the second purchase will be 255,000Euro VAT incl. My logic is that the rental income from both properties will pay the mortgage on the purchased proeprty. As all my own capital will be used up in legal fees, stamp duties, outfitting, I am considering borrowing the full amount. Am I better off taking out one mortgage or two mortgages of say 125,000Euro and 130,000Euro. Any advice. Both properties will be rented from the outset.
Also what is the stamp duty on a gift of an apartment and is it calculated net of VAT or VAT inclusive for investment property.
On the purchase again is stamp duty calculated net of VAT or VAT inclusive.
I purchased a house in April 2001 (investment property) and on cehcking my records I find that the solicitor billed me for stamp duty based on a VAT inclusive price. Was this correct and if not can I recover same from revenue and how should I go about it.
Also what is the stamp duty on a gift of an apartment and is it calculated net of VAT or VAT inclusive for investment property.
On the purchase again is stamp duty calculated net of VAT or VAT inclusive.
I purchased a house in April 2001 (investment property) and on cehcking my records I find that the solicitor billed me for stamp duty based on a VAT inclusive price. Was this correct and if not can I recover same from revenue and how should I go about it.