Stamp Duty on site

[em_cat]

Hi, not sure if this is in the right forum but here goes.

We’re in the process of purchasing an infill site that that is being sold by a company. The site is zoned for residential and we are building our primary home on it. Our solicitor has informed us that we’ll be paying a 4% stamp duty rate. I looked it up the regs stated a 7% but I thought it would be charged at the residential rate if it was being bought for residential use.

Em_cat

 

[RedOnion]

It's 7.5%, but you can claim back the difference when you build a residential property.

It only changed in last budget, so be careful looking at older documents.

 

[Easel]

Personally I would listen to my solicitor and not random punters on the internet

 

[mf1]

Personally I would listen to my solicitor and not random punters on the internet

How about if it comes straight from Revenue?

Residential Development Stamp Duty Refund Scheme

The Finance Act 2017 provides for a refund scheme. Under the scheme you may qualify for a refund of some of the Stamp Duty that you paid.

www.revenue.ie

mf

 

[RedOnion]

Thanks @mf1
That's the link I was looking for. There are examples there that cover the OPs scenario.

 

[Leo]

Personally I would listen to my solicitor and not random punters on the internet

Don't lump all random internet punters in the same basket, many, including the above two posters, have more than proven their credentials over the years.

 

[em_cat]

Thanks, had seen it on citizens advice originally, I was just thinking about what our Solicitor had mentioned and they definitely said 4% so not sure where that’s coming from, at any rate we’ll be building a single dwelling house; transfer of deeds still have not taken place as of yet.