Is there Stamp Duty on a Self Build?

L

lfcfan

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I have been trawling the internet and this site trying to get a difinitive answer to this question. I have just started building on a site that was given to me by my Dad. I know I don't have to pay Stamp Duty on the site but is there any Stamp Duty liability on the completed house? I am not a FTB, the house is 230Sqm and the valuation for the completed house was €635,000. Thanks!
 
As mf1 says.....

AS far as I am aware it is 9% of site value..... therefore a value of the site determins the stamp duty....I presume you went for the planning on the site there for a value of the site is / was alot less than one that had planning already on it..... (get a very low valuation of the site done....!!)
 
Hey Ifcfan,
Stamp Duty would only be on the site value but you may be OK according to this even though you are not a FTB ...
Site transfers from parent to child

Stamp Duty and Capital Gains Tax do not apply where a parent transfers a site to a child. The site must be for the construction of the child's principal private residence and the market value of the site must not greater than 253,947.62 euro. A parent can only transfer one site to each child to take advantage of this exemption. If the child then sells the site without the principal private residence being built and lived in for 3 years, there will be a clawback of the capital gains tax relief permitted. There will be no clawback if the child dies.
 
Thanks for the info. The site was valued at €150,000 as part of the mortgage application so it looks like I'll be escaping the wrath of SD :)
 
Have you actually completed the legal aspect of transferring the lands? You/your solicitor need(s) to be very specific about the wording used in the Transfer from father to offspring to avail of stamp duty relief.

Be clear with your solicitor about this.

mf
 
mf1 said:
Have you actually completed the legal aspect of transferring the lands? You/your solicitor need(s) to be very specific about the wording used in the Transfer from father to offspring to avail of stamp duty relief.

Be clear with your solicitor about this.

mf
Click to expand...

Yep, the solicitor is a friend of the families so he's well aware of what needs to be done here.
 
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