Do I have to pay Stamp Duty on site and house?

E

emily_moss

Registered User
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Hi
Do you have to pay Stamp Duty on a site and on the house that is being built on the site? Stamp Duty on a site is very high - its 9%.
 
Re: Stamp Duty

Please make your thread titles more meaningful and specific in future.

I have edited this one.
 
Is the buying of the site connected to the building of the house? I.e if you buy the site, do you have to enter a building agreement with a certain builder to have the house built?
 
Thank you for your replies.
Buying the site and building the house are two separate things, there is no building agreement with the site. We will be building one house on the site and this will be our principle residence.
 
There is an exemption where the building contract and site purchase are linked, however in your circumstances if the site purchase is for over €150,000 and it is from an unrelated person, the stamp duty is at 9% on the purchase price, there is no further stamp duty on the house, but if you obtain a mortgage, there is further stamp duty on the mortgage if it is for over €254000 at 0.1%.
 
Thank you Vanilla.

The site is over €150,000. Should I presume the 0.1% SD applies if the amount of the mortgage set aside for building etc. costs is in excess of €254,000?

Otherwise there would be a double hit for Stamp Duty on the site, even though 0.1% is small - am I wrong in saying this?
 
the 0.1% is SD on mortgages and is not on the site/house, it effects everyone who buys a house with a mortgage.
 
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