Stamp Duty Explained

When you’re building a house you usually have to pay stamp duty on the value of the site and in some instances, capital gains tax. Here’s what you need to know.

Stamp duty is the government tax levied for changing the documents that specify who owns a particular property. Property is defined as land, a new build or second-hand property, derelict or not. Normally, the only factor affecting the amount of stamp duty is the value of the property. Capital gains tax is imputed on any profit you make from selling an asset, and this may be something you may have to pay for your site depending on your circumstances and jurisdiction.

Rob McOwan

Written by Rob McOwan

Rob is a financial advisor based in Dublin, financialexperts.ie

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