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Vat or stamp duty

  • 10-09-2013 9:54pm
    #1
    Smoggy
    Registered Users, Registered Users 2 Posts: 1,466 ✭✭✭


    Im looking into buying a site and having a house built.

    However I can't work out the associated taxes.

    Is there stamp duty on the land, followed by the vat on the build? When paying for the build are you not paying vat for materials and labour?

    Is there different rates for houses greater thn 1300sq ft?


Comments

  • #2
    BryanF
    Moderators, Home & Garden Moderators Posts: 10,146 Mod ✭✭✭✭BryanF


    Smoggy wrote: »
    Im looking into buying a site and having a house built.

    However I can't work out the associated taxes.

    1. Is there stamp duty on the land,
    2. followed by the vat on the build?
    3. When paying for the build are you not paying vat for materials and labour?
    4. Is there different rates for houses greater thn 1300sq ft?


    1. yes
    2. yes
    3. materials @ 13.5 & services @23%
    4. no (by 'rates' i assume you mean tax, if you mean area v cost then there are economy's of scale)


  • #3
    Smoggy
    Registered Users, Registered Users 2 Posts: 1,466 ✭✭✭Smoggy


    Ok, so let me break this down

    Land is 100k
    Build is 200k

    Stamp on land at 2% = 2k
    Material and labour at let say an average of 20% = 40k

    Have I missed anything ?

    Edit: services at 13.5 and material at 23? Not that it matters for my rough 20%


  • #4
    fclauson
    Registered Users, Registered Users 2 Posts: 1,691 ✭✭✭fclauson


    If you go through a main contractor and he buys all materials then you get charged at 13.5 on everything

    Archs and engineers will be 23% as they are our service
    Ditto for any fittings you buy yourself for the house(hence why it's good to push them through your contractor and accept his mark up)


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