However, while making savings on stamp duty isn't always easy, there are ways to alleviate the pain.

TIP: If you're purchasing a house and the contents are included in the sale, get them valued, says Lisa Doyle of PriceWaterhouseCooper.

For a first-time buyer purchasing a property for 320,000 with 3% stamp duty ( 9,600) and contents valued at 5,000 the stampduty liability will be calculated as 3% of 315,000.

TRAP: Claims for contents are liable to Revenue checks to ensure the value attributed to contents is accurate.

TIP: First time buyers are exempt from stamp duty on the purchase of new houses under 125sq m and on secondhand properties up to a value of 317,500. Owneroccupiers are exempt on the purchase of a new property under 125sq m where a valid floor-area certificate exists.

"Owner-occupiers are also entitled to relief where no floor-area certificate exists.

The stamp duty payable is calculated on the site value or one-quarter of the total value of the property whichever is greater, " says Pauline Doohan of Sherwin O'Riordan solicitors, Dublin.

TRAP: "Care should be taken by first-time buyers availing of the reduced rates payable with regard to the five-year clawback period that exists but is commonly ignored, " warns Doyle. "Property can be sold within five years without incurring a clawback of the stamp-duty relief granted but the receipt of rental income for the property . . . with the exception of rent-a-room relief . . . within a period of five years will lead to a clawback of the relief granted on the purchase of the property.

This clawback will also be subject to interest and penalties where there is a delay in discharging the liability, " she says.

TIP: Ensure you're only paying stamp duty on the Vat-exclusive price of the property.

TRAP: Calculating the stamp duty liability on the Vatinclusive sum amounts to double taxation.

TIP: Transfers of property from 'certain' relatives will qualify for consanguinity relief, cutting stamp duty by 50%. Transfer of property between spouses is also exempt from stamp duty.

"There is also a Revenue concession which allows a parent to transfer a site to a child free of stamp duty, and also Capital Gains Tax, where the value of the site is less than 254,000 and the site will be used for building a main home, " says Doyle.

TRAP: "The entire beneficial interest must pass to the child, " stresses Doohan. The concession doesn't extend to Gift Tax which may arise on the transfer of the site. The spousal exemption doesn't apply to cohabiting couples, irrespective of how long they've lived together.