Dublin Mortgages, Waterford Mortgages, Mortgagehouse are Irish Mortgage Brokers who help people obtain a mortgage . Mortgages, Insurances, investments and pensions are our speciality.
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Mortgage House - Stamp Duty Information Stamp duty in Ireland is a tax payable to the Government based on the documents used in the transfer of property. (In other words, the conveyance document which transfers ownership to you). The value of the property (i.e., home or apartment, land or housing site) and your status (i.e., whether you are a first-time buyer, investor, etc.) will determine the amount of stamp duty that is payable. Stamp duty is divided up into different categories and rates and the amount you pay will depend on; ~ Whether you are going to live in the house or apartment (residential or owner-occupier) or are an investor ~ Whether as an owner-occupier, you are a first time buyer ~ Whether it is a new or second-hand house or apartment ~ The size of the house or apartment Stamp duty is also payable on land/housing sites without residential buildings. Where your agreement to buy a site is linked to a construction contract, stamp duty maybe payable on the full amount of the site plus the construction contract. First time buyers ~ A first time buyer is defined as a person (or where there is more than one buyer, each person): ~ Who has not on any previous occasion, either individually or jointly, purchased or built on his/her own behalf a house in Ireland or abroad; ~ Where the property purchased is occupied by the purchaser or a person on his/her behalf as his/her only or principal place of residence and ~ Where no rent is derived from the property for five years after completion of the current purchase. Owner-occupiers of new houses/apartments are exempt from stamp duty, provided that the area of the house or apartment does not exceed 125 sq. metres (1,346 sq. feet). The house or apartment must not have been occupied prior to its purchase and must be occupied as the owner's main place of residence for a period of five years from the date of the purchase deed. A stamp duty 'clawback' arises where rent, other than under the 'rent a room scheme' is obtained within the five year period (or up to the date of a sale during this period) from the date of the purchase deed. The amount of the clawback is the difference between (a) the stamp duty payable at the higher rates which would have applied at the date of the purchase deed and (b) the lower duty (if any) paid as a result of obtaining the benefit of the reduced rates. Under the 'rent a room scheme', there is no stamp duty clawback where rent is received by the person in occupation of the house or apartment on or after 6th April, 2001 for letting of furnished accommodation in part of the house. If the area of the house or flat is greater than 125 sq. metres (1,346 sq. feet), some stamp duty maybe payable if the Chargeable Consideration is above the relevant exemption threshold. (The stamp duty is assessed on either the cost of the site or 25% of the cost of the site plus the building costs (less VAT), whichever is the greater figure). This figure is the Chargeable Consideration. Rates of stamp duty for non-owner-occupiers Site transfers from parent to child Stamp duty and capital gains tax does not apply where a parent transfers a site to a child. The site must be for the construction of the child's principal private residence and the market value of the site must not be greater than € 500,00 euro. A parent can only transfer one site to each child to take advantage of this exemption. If the child then sells the site without the principal private residence being built and lived in for 3 years, there will be a clawback of the capital gains tax relief permitted. There will be no clawback if the child dies. Irish Stamp Duty Rates First Time buyers are exempt from stamp duty on new and second-hand houses and apartments. Rates of stamp duty for new houses and apartments with a floor area greater than 125 sq. metres and a Floor Area Compliance Certificate, Up to € 125,000 Exempt Balance 9% Rates of stamp duty for second-hand houses and apartments for owner occupiers and Investors buying new or second hand houses . Next € 875,000 7% Balance 9% Rates of stamp duty on land/housing sites without residential buildings How to apply Your solicitor will calculate how much stamp duty is due and request this from you prior to the closing of the sale. The amount is paid to the Revenue Commissioners, who place a stamp on the property deeds Without this stamp, the deeds cannot be registered. Talk to us in Mortgage House, we have a panel of Solicitors at fixed rates who will explain the impact of stamp duty on your investment decisions We will also minimise your paperwork burden.
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Next € 875,000 7%
Up To 125,000 Exempt
Up to €10,000 euro Exempt
€10,001 euro - €20,000 euro 1%
€20,001 euro - €30,000 euro 2%
€30,001 euro - €40,000 euro 3%
€40,001 euro - €70,000 euro 4%
€70,001 euro - €80,000 euro 5%
€80,001 euro - €100,000 euro 6%
€100,001 euro - €120,000 euro 7%
€120,001 euro - €150,000 euro 8%
Over €150,000 euro 9%
Richard Coen t/a Mortgage House is regulated by the Financial Regulator
Mortgage House is a Tied Insurance Agent of Irish Life Assurance plc. Irish Life Assurance Plc is regulated by the Financial Regulator.
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