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

Stamp Duty?

Options
  • 17-05-2010 1:23am
    #1
    elleod
    Closed Accounts Posts: 6 ✭


    Hi,

    Trying to figure out stamp duty and I think any answers to an example might be best.....
    If you buy a site for 100K and further cost of self-build is 200K, whats the cost of stamp duty if any?
    What is it if you buy the site with house built on it?

    Thanx


Comments

  • Options
    #2
    muffler
    Registered Users Posts: 46,079 ✭✭✭✭muffler


    The guys in the Accommodation & Property forum will help you out Im sure.

    Moved from Prices/Costs


  • Options
    #3
    clint_eastman
    Registered Users Posts: 308 ✭✭clint_eastman


    elleod wrote: »
    Hi,

    Trying to figure out stamp duty and I think any answers to an example might be best.....
    If you buy a site for 100K and further cost of self-build is 200K, whats the cost of stamp duty if any?
    What is it if you buy the site with house built on it?

    Thanx

    http://www.revenue.ie/en/tax/stamp-duty/non-residential-rates.html

    Example 1. Site stamp duty is 6% on site over €80k, being a 1st time buyer is irrelevent when buying a site. There is no extra duty on the self build.

    Example 2. Site with house on it is essentially a house purchase so stamp duty will be applied per the %'s on the revenue website, 1st time buyer status (if applicable) will apply in this case.


  • Options
    #4
    elleod
    Closed Accounts Posts: 6 ✭elleod


    Thanks for the info.

    From what you are saying then, its cheaper to buy a site and then build a house on it then agree to buy a site and the person (builder) you are buying it from to put a house on it for you included in the sale.


  • Options
    #5
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    elleod wrote: »
    Thanks for the info.

    From what you are saying then, its cheaper to buy a site and then build a house on it then agree to buy a site and the person (builder) you are buying it from to put a house on it for you included in the sale.

    There would be a tax liability on the part of the builder- if he/she was not the original owner of the site.

    If you are building your own property- you buy the site, you pay your stamp duty when buying the site, then once you have planning permission- you get whomsoever you choose to build for you.


  • Options
    #6
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    You could buy a nice house in dublin for 200k, for a standard 3 bed semi with back garden ,you,d have to get the site for 60k in order to save money, i,m assuming it costs 140k to build a house.ARE you buying a house with planning permission.
    IT depends on what materials you use, are you managing the build,you could subcontract a sparks, plumber ,plasterer etc are you doing some work yourself.
    How big is the house.
    I,VE seen houses built on small sites ie 15ft wide front, between 2 houses.
    I,VE seen like small garages for sale, in the city centre.IF you bought one you could prbly build on house on the site, knock down the garage.
    You could get a builder to build the walls,foundation ,roof and subcontract the rest out.


  • Advertisement
Advertisement