Building a House-Mortgage Interest Relief&Stamp Duty

[Spiderman1]

Recently started building a new house and have paid stamp duty on the site. Is Stamp Duty payable on cost of construction (I'm a first time buyer). Also as i'm getting mortgage drawdowns can i put off starting to claim Mortgage Interest Relief unitl I have the full sum drawndown, because the interest will be low until i drawdown the remainder of the mortgage. Any comments appreciated!

 

[woods]

There is no stamp duty on construction. Stamp duty is a transfer tax and the value at the time of transfer is what counts.

 

[Gervan]

Doesn't it depend who is doing the construction? If the site purchase and construstion contract are linked there is stamp duty on the total?