stamp duty rates on agricultural land

amacca

Apologies if links or previous threads contain this information.I could only find reference to not paying stamp duty if farmland being transferred.


My query relates to the rates payable on buying land.

some sites online give a figure of 9% on anything above 125k

and some give a 6% figure

does anyone know which is the correct up to date one? government site says 9% but I thought the 6% figure was the up to date one.

also is it a sliding scale

eg do you pay nothing on first 10k

1% on next 10k

2% on next 10k

etc etc (know there used to be a 4% on 30k as well)

and then 9% on remainder over 125K

or

do you pay 9% on the full amount once purchase price goes above 125k

ie: if purchase price was 160k ... stamp duty payable would be 9% of 160k.


appreciate any help.

amacca

amacca wrote: »

Apologies if links or previous threads contain this information.I could only find reference to not paying stamp duty if farmland being transferred.


My query relates to the rates payable on buying land.

some sites online give a figure of 9% on anything above 125k

and some give a 6% figure

does anyone know which is the correct up to date one? government site says 9% but I thought the 6% figure was the up to date one.

also is it a sliding scale

eg do you pay nothing on first 10k

1% on next 10k

2% on next 10k

etc etc (know there used to be a 4% on 30k as well)

and then 9% on remainder over 125K

or

do you pay 9% on the full amount once purchase price goes above 125k

ie: if purchase price was 160k ... stamp duty payable would be 9% of 160k.


appreciate any help.

sorry, after answering my own question, at least partially.

revenue.ie has the new stamp duty rates that apply from 15th oct 2008 as 6% on any non residential property over 80k

presume these are the most up to date rates?

+still wondering about the sliding scale

is it 6% on the whole lot if its over 80k

or

is it 6% on whatever portion of the sale price is over 80k

+ reducing percentages on portions of the sale price below 80k?

tks for patience and would appreciate the confirmation I can trust the site (revenue.ie) to be as up to date as possible and if anyone could shed some light on the sliding scale thing that would be uber fantastic also:D

maidhc

6% applies to the total I'm afraid, it isn't a sliding scale and Revenue.ie is very up-to-date. 9% was an older rate. You can also ring Dublin Castle if you have any more complex queries and they will answer them for you as best they can.

There are various exemptions from stamp duty for young trained farmers. Some guidance can be found here: www.revenue.ie/en/tax/stamp-duty/leaflets/sd10a.pdf

amacca

tks for the reply. v.helpful.