Stamp Duty Refund Ireland | Residential Development Stamp Duty Refund Scheme
Did you know that if you purchase a site for the purpose of constructing a residential dwelling that you may be eligible for a partial clawback on the stamp duty paid?
Are you wondering how to claim back Stamp Duty on your land?
You may be entitled to relief depending on the rate of stamp duty paid as follows:
1. Eleven-fifteenths of the duty paid if you paid stamp duty at 7.5%.
2. Two-thirds of the duty paid if you paid stamp duty at 6%.
We recently assisted two clients in applying for a partial refund of the stamp duty paid on their site purchases. Both clients were deemed eligible for a rebate of eleven-fifteenths of the duty which they paid at 7.5%. This was a welcome injection of cash during an expensive time.
At Fachtna O’Driscoll Solicitors we can assist you with your application for a refund following the acquisition of your site.
If you have any queries, please contact Brenda Mounsey at brenda.mounsey@fodlaw.ie or telephone the office on (021) 427 8131. To learn more about how to claim by stamp duty on land, please see below: https://www.revenue.ie/en/property/stamp-duty/claiming-a-stamp-duty-refund/residential-development-refund-scheme/index.aspx
