Residential Development Refund Stamp Duty Scheme

If you built your house on a single site within the past 4 years, you may be entitled to a refund of part of the stamp duty that you paid in respect of the value of the site.

Section 83D of the Stamp Duties Consolidation Act, 1999 provides for this refund.   For the relief to apply the site transferred to you or purchased must be less than or equal to one acre.

The maximum amount that you can claim is 11/15ths if you paid stamp duty at the rate of 7.5% and 2/3rds if you paid stamp duty at the rate of 6%.

There are of course some conditions that you will have to satisfy and these are as follows;

  • The Deed, transferring the site to you must have been stamped at the time that the site was transferred to or purchased by you.
  • You must have commenced building on the site within 30 months of the date of the transfer to you.
  • You must complete a declaration confirming the following;

    1. The transfer deed has been stamped.
    2. The area of the site.
    3. The date on which the works were commenced.

The Declaration together with a copy of the Transfer Deed and a copy of the email from the Local Authority acknowledging that the Commencement Notice is valid must be submitted to the Revenue by uploading same to the Revenue website.

The refund must be claimed within 4 years of when the Local Authority acknowledges receipt of the Commencement Notice and the building works must be completed within 2 years of the local Authority acknowledging the commencement notice as valid.

Further information is available on the revenue website:

https://www.revenue.ie/en/property/stamp-duty/claiming-a-stamp-duty-refund/residential-development-refund-scheme/index.aspx

 

Sinéad Kenny
Partner, McMahon & Williams Solicitors

065 -9051009
skenny@mcmahonwilliams.ie