Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

VAT on site

Options
  • 01-02-2009 10:16pm
    #1
    Fat Joe
    Registered Users Posts: 60 ✭✭


    I am in the process of buying a 1 acre site. Do i need to pay VAT on the purchase? My accountant says no as I am only buying a green field.


Comments

  • Options
    #2
    muffler
    Registered Users Posts: 46,083 ✭✭✭✭muffler


    Moved from construction & planning to accommodation & property


  • Options
    #3
    sunnysoutheast
    Registered Users Posts: 2,072 ✭✭✭sunnysoutheast


    We paid VAT on our site, but it was a serviced site with full permission.

    Note that you should only pay stamp duty (9%, FFS) on the VAT-exclusive price. We got a refund from the Revenue for the overpayment.

    SSE


  • Options
    #4
    Victor
    Registered Users Posts: 78,392 ✭✭✭✭Victor


    If the site has been improved by a certain extent by the previous owner, then VAT is payable.

    If its just a piece of a field that has always been and is in agriculture then it hasn't been improved.

    There are detailed rules that are probably available on www.revenue.ie - look for VAT on property.

    Get professional advice from a accountant or solicitor with relevant experience.


Advertisement