Stamp duty is an additional expense when buying a home so it is very important to understand how it operates and to account for it when planning your finances. Stamp duty is a tax that you pay to the government when changing deeds on a property. The level of stamp duty depends mainly on the type of property you are pbuying and your status as a property buyer, i.e. different rates apply to new and second-hand homes for first-time buyers, second or subsequent time buyers or investors. For the latest stamp duty information, dated 7th July 2012, one can view it on http://www.revenue.ie/en/tax/stamp-duty/index.html.
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