Stamp Duty on a second Site transferred from Parent to Child

[Darth Vader]

I am aware that a site transferred from a Parent to child will not incur Stamp Duty if the site is to be used to build a family home and the value it below €254,000.
If the parent then transfers a second site some years later, what ar the stamp duty, tax implications for the child?

 

[Vanilla]

If the second site transfer is now, then it is liable to stamp duty at half the normal rate for non-residential property depending on its value. Also the value is taken into account for CAT- aggregated with the value of the site transferred previously, and there is a possibility of CGT for the transferor depending on the value.

If it is in the future, hang on, let me get out my crystal ball....

 

[Darth Vader]

Does that mean that transfers of sites from Father to Son are liable to stamp duty at half the normal rate, no matter how many sites are transferred?

 

[mf1]

Does that mean that transfers of sites from Father to Son are liable to stamp duty at half the normal rate, no matter how many sites are transferred?

Yes - its called "consanguinity relief" - transfers/ conveyances of property between related parties get a relief - duty payable at "half the ad valorem rate" - but as Vanilla points out, there are other tax issues to be considered as well.

mf

 

[Darth Vader]

there is a possibility of CGT for the transferor depending on the value.

The site is valued at €90,000. The site will be used to build a family home on, however, the father previously gifted a site to his son to build a family home, which he now intends to sell.

where does this leave me on cgt?