Stamp duty reduction options

A

airgead

Guest
Hi,
May girlfriend and I are buying a house together in Dublin. The house falls into the 3% stamp duty bracket. We are both first time buyers.

In a few years we plan to leave Dublin and buy a house in Galway.

What are the options regarding the the structuring of purchase of the first house so that we may be able to retain the FTB status for one of us to take advantage of any FTB incentives for the house in Galway in a few years.

All ideas welcome!
Thanks
 
Does either of you have the level of income that will support the size of the mortgage you're seeking?

Are you happy to postpone marriage indefinitely simply to protect the ftb status of one of you?

Will that person (who is presumably the lower paid of you on the basis of the above) be able singlehandedly to secure a sufficient mortgage to make your subsequent move.

Will the person whose ftb status is being preserved be happy not to have any formal recognition of their contribution to the purchase in the event of a break-up? Because the paper trail would point to them having deliberately excluded themself from having a claim in such an event.
 
is it possible to pay €318k for a house and not pay the stamp duty as a first time buyer by saying that €1,000 of the house relates to fixtures and fittings thereby bringing the price of the house down to €317k
 
Happens all the time.

<is it possible to pay €318k for a house and not pay the stamp duty as a first time buyer by saying that €1,000 of the house relates to fixtures and fittings thereby bringing the price of the house down to €317k>

The key element is that stamp duty is paid on the amount stated in the contract when it is sent to your solicitor. Thats that .

A vendor would not want to lose a sale over a detail like that (0.3% of the total) so parlay direct with the vendor about the importance of the issue in order to ensure that the issued contract says €317k and not a penny more.
 
Re: Happens all the time.

Don't know if your solicitor would be happy in facilitating tax evasion. Have you had experience of this ?
 
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