Residential Development (Stamp Duty) Refund Scheme

Introduced in the Finance Act 2017, the scheme provides for the refund of a portion of the stamp duty paid on the acquisition of non-residential land, where that land is subsequently developed for residential purposes. This brings the effective stamp duty rate down to a minimum of 2%. 

The scheme is subject to a number of conditions, including conditions relating to the portion of the land involved given over to housing, and the time taken to commence and complete the construction of the residential units involved. The scheme is due to expire for new applications on 31 December 2021, but this deadline is now being extended to 31 December 2022. The 24 months currently allowed between commencement and completion of construction is being extended to 30 months, so that the last possible eligible completion date will be 30 June 2025.

Help to Buy Scheme

The Help to Buy (HTB) scheme helps first-time buyers of newly-built homes to buy a new house or apartment. However, the scheme only applies to properties costing €500,000 or less. The HTB scheme gives a refund of income tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous 4 tax years. The scheme is scheduled to expire at the end of 2021. As part of the government’s July stimulus plan, the relief available to first-time buyers was temporarily increased until 31 December 2020.

The government has now extended the additional measures to the HTB scheme, introduced on 23 July 2020, to the end of 2021. The amount of the relief that may be claimed has been increased so that it is the lesser of:

  • €30,000;
  • 10% of the purchase price of a new home (for self-builds 10% of the completion value of the property); or,
  • the amount of income tax and DIRT paid in the four years before the purchase or self-build.


For further information on Budget 2021, please contact Brian Duffy or your usual William Fry Tax contact.