owner-occupiers stamp duty

N

npgallag

Registered User
Messages
171
Can anyone explain the site value/25% part of this.. I understand that property over 125m is liable... Also is this on new houses only..?

"Other owner-occupying purchasers of new residential property over 125m2 are liable to stamp duty on the greater of the site value or 25% of the property value (excluding VAT) at the standard rates, thresholds and exemption."
 
Yes, new houses only.

If buying a new house, there will be (a) a contract for the sale of land - that is the site value and (b) a building agreement - a VAT inclusive price.

Work out the VAT exclusive price of the building agreement ( 13.5%) and add back the site value. You will pay stamp duty on the greater figure of either the site value or 25% of the total site value + building agreement ( ex-VAT) price.

mf
 
I am thinking of purchasing a property in Ireland, if I decide to sell will I have to pay taxes on it, if so, where would I find the details of the tax that will be applicable for a the purchase and selling on again. Also if a person has a property with an annex to it will that property be class as a 2 properties therefore 2 transactions.

Joody1
 
You must log in or register to reply here.
Back
Top