If you are buying a new build the developer will put a value on the site and a value on the house itself. The revenue states that SD is due on whatever is the greater of (site excluding VAT) or ( 1/4 * site/house excluding VAT). I think also the first €125,000 is excluded from SD.
Eamonn is correct unless the site costs more than 1/4 of the purchase price. VAT is always charged on developed sites. So if the site cost is more than 1/4 of the purchase price you take the VAT off the site cost, deduct 125000 then pay 7%.
Most large houses in the commuter belt have site fines considerably more than 1/4 of the purchase price.
Small point on your calcs:
you are not subtracting VAT correctly.
If you have a figure of 200k incl VAT and you want to know how much it was excluding VAT, and assuming VAT = 13.5%, the calc should be:
(200000/(100+13.5)) /100
or to put it more simply
200000/1.135
= 176211
not
(200000*(100-13.5))/ 100
or more simply
200000*0.865
= 173 k (wrong).
Doesnt make much difference but might save puzzlement if you can't get figures to match up.
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