Hi
If your buying a house above 125sq metre and not a first time buyer then you pay on 400K stamp duty at the 7.5% rate. See below:
Rates of
Duty for
Residential Property
The rates of duty applicable for residential property (whether new or second-hand) are as follows:
Aggregate ConsiderationFirst Time Buyer Rate
Full Rate Less than €127,000 ExemptExempt€127,001 - €190,500Exempt3%€190,501 - €254,000Exempt4%€254,001 - €317,500Exempt5%€317,501 - €381,0003%6%€381,001 - €635,0006%7.5%Over €635,0009%9%
N.B. The Rates above apply to the entire consideration or value of the property, e.g. :
(a) Where the consideration for a property is €150,000 (and the purchaser is not a first-time buyer) the stamp duty liability would be €4,500 (€150,000 @ 3%)
(b) Where the consideration for a property is €350,000 (and the purchaser is not a first time buyer) the stamp duty liability would be €21,000 (€350,000 @ 6%)
(c) Where the consideration for a property is €350,000 and the purchaser is a first time buyer the stamp duty liability would be €10,500 (€350,000 @ 3%)
Spoke to stamp duty dept. at the revenues today in cork: If you are building a house then it doesn't matter whether your first/second time buyer.
The auctioneer/estate agent values the market price of your house (and if required a surveyor/equivalent certifiies it if its under 125sq metre as under 125sq metres is exempt -- see above - need a cert).
ABOVE 125sq metres
The revenue requires the market price of your house - site plus house.
Say you get the house valued at 600K then you pay stamp duty on 1/4 of it - 150k which means stamp duty at 3% from above table.
However if your house is valued at 500K then 1/4 is 125k which is exempt from above table.
This is all based on the fact that you are owner occupier - main residence etc.
When speaking with the revenue they refer to the market price of the property as conderisation and the amount payable as the considersation charge. The above figures have been copied from the revenue site.
This is what I understand.HTH