Stamp Duty on Site

Ginger83

Hi, hoping someone can shed some light. If I was to buying a site with planning granted, me being a first time buyer would I have to pay stamp duty on the site or would i be exempt as a first time buyer?
Thanks.

muffler

Sites are not exempt from stamp duty. If there was a house on it then thats a different ball game.

I'll fire this over to the accommodation & property forum where the guys there will know more.

jdivision

It depends on the site value, stamp duty is charged at different rates for commercial land (which includes land with residential zoning). Revenue.ie might be your best bet for bands.

muffler

As I said if you are buying the site then it will be liable to stamp duty.

The top rates (based on site value) are:

€70,001 - €80,000 = 5%
€80,001 - €100,000 = 6%
€100,001 - €120,000 = 7%
€120,001 - €150,000 = 8%
€150,001 and over = 9%

Berti Vogts

Stamp duty rates for non residential property are as follows:

€10,000 or below = Exempt
€10,001 - €20,000 = 1%
€20,001 - €30,000 = 2%
€30,001 - €40,000 = 3%
€40,001 - €70,000 = 4%
€70,001 - €80,000 = 5%
€80,001 - €100,000 = 6%
€100,001 - €120,000 = 7%
€120,001 - €150,000 = 8%
Over €150,000 = 9%

First time purchasers are exempted from stamp duty on residential property only.

Do-more

You may be able to purchase the site using a Section 110 arrangement otherwise know as "on licence" or "resting on contract" ask the EA or your solicitor about it. It's a legal loophole that can be used to purchase a site and legally avoid having to pay stamp duty.