Stamp duty on new house

L

lamai

Registered User
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Hi,
I am buying a new house for 195000 under the rate of 125000-1950000
I am left with 70000 @7% which is 4900 Euro, I am not sure if I have to deduct 21% Vat of this can someone please explain to me how I work out the total stamp duty to be payed.
thanks
 
The first 125k is free of stamp duty. You'll pay 7% on the remainder - i.e. 7% of 70k, or as you've correctly worked out, 4,900. No VAT.

Of course if you're a first time buyer, you won't pay any stamp duty at all.
 
A new house should have VAT of 13.5% included.

As far as I know you are entitled to deduct this from your calculation.
 
Aren't new houses (under 125 sq metres) exempt from stamp duty for all owner occupiers and not just first time buyers?
 
Re: Clawback of relief

With the new changes in the clawback of stamp duty for FTB, reduced from five to two years, does it mean a FTB can sell he's property after 2 years, without a clawback, or does it only relate to the renting out of the property after the two years? where you don't risk a clawback.
 
Apologies, I was thinking about the VAT if you were repaying a clawback
 
Re: Clawback of relief

AOCONNOR said:
With the new changes in the clawback of stamp duty for FTB, reduced from five to two years, does it mean a FTB can sell he's property after 2 years, without a clawback
Click to expand...
He could always do that! The clawback only ever triggered on renting within the first 5 years (now 2).
 
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