Can anyone advise?
Apologies for resurrecting this old thread (this doesn't count as 'bumping' does it?) but I wonder if anyone could help.
I have a similar query to the original poster...and I wanted to verify my situation.
I bought a property in 2003 as a first-time owner-occupier. I had barely moved in when I decided to go abroad and rent out the property. I ended up working abroad until January 2006, when I returned home and resumed living in the property until I sold it (at a loss) in Dec 2011.
So I have three queries:
1. I have been worrying whether I could be followed up for stamp duty, but according to the link posted in this thread, because I worked abroad during my absence from the property I don't think I would actually be liable for the stamp duty after all. Is that correct?
2. I am not sure if I received mortgage interest relief or not (as the bank were informed that I was going abroad) but if I did, would I be liable to repay it back to Revenue?
3. I was wondering about rental income, but when I researched it some time ago, it seemed that I was resident abroad for long enough to either not be resident for tax purposes or something, or if I was, the rental income would be too low to go over the tax threshold. I'm not sure what it was, but then I read recently that it is actually the responsibility of the tenant to pay the taxes to Revenue if their landlord is residing abroad... anyway, would I be correct in assuming that I needn't worry about the rental income now?
I just don't want Revenue to come looking for money at some stage in the future, especially when I feel like I am struggling as it is right now!