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Stamp Duty on New Build
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22-03-2010 3:11pm#1Hi All
Just wondering I am in mid process of buying a new house, now the stamp duty mentioned to me at the time differs from what my solicitor is quoting, solicitor is 3x as much.
Happened to be talking to the seller again today and he insisted he was right and that as the value of the land is greater than 1/4 cost of building + land that you still take VAT off the value of the land before you remove your quota(125k) but it would appear the solicitor is working out the stamp duty on the land with the VAT still included so I am not sure who is right - anyone have an idea - anyone understand my rambling post
Cizizens advice has a good explanation but doesn't make it clear whether it is VAT on the land or just VAT on the building on the land.
http://www.citizensinformation.ie/categories/housing/owning-a-home/buying-a-home/stamp_duty0
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