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Stamp Duty on Site Value, including VAT

  • 31-12-2010 10:30am
    #1
    Lex Luther
    Registered Users, Registered Users 2 Posts: 270 ✭✭


    Hi all,

    I write more in hope than expectation of an answer ...but I thought it worth a shot anyway.

    Briefly , I bought a new built home a few years ago. Stamp duty was assessed on the site value.

    We now have good reason believe that the site value used was inclusive of VAT and that we are due a refund.

    Our solicitor is struggling to make headway with the Revenue who are asking us for confirmation that the developer paid the VAT.
    Not surprisingly the developers solicitors are saying nothing so we are stuck.

    Any thoughts ?

    Thanks a million.


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    You'll have to get this information from the developer. I would doubt that his solicitor knows whether he is a VATable person or not. That would be his accountant. But this is pretty basic stuff like, who completed the conveyance and how did you not get documentation that reflected the cost at the time and whether VAT was charged. Any competent solicitor would have done this at the time and not be going looking for this information a few years later. Stamp duty is charged exclusive of VAT- did your solicitor not know this at the time?

    If I was in this position I would be suing the solicitor for the excess paid in stamp duty for his own incompetence in the first place.

    Asking Revenue is a waste of time as a taxpayers dealings with the revenue are between the taxpayer and the Revenue and not third parties so you are barking up the wrong tree there. Revenue would only investigate if there was an element of fraud involved and even if they did that you, as a third party, would not get any notice of such action.


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