Partner 1tb Im not but buying new build house is there stamp duty?

[countrygirl]

I have a house myself (which im selling) but my partner (a First time buyer) and myself are buying a new build house over 125sqm in size and Im not sure if we will have to have to pay stamp duty if my name is on the deeds? I know we can just put his name on the deeds until we get married approx 12m but still get the joint mortgage but it is just not an ideal situation from my perpective as Ill will have no protection until then. Some people are saying that when its over 125sqm then even though its a new build we will have to pay stamp duty but others are saying that regardless what size it is if its a new build its exempt from stamp duty. Anyone able to clarify this for me?

 

[Satanta]

Some people are saying that when its over 125sqm then even though its a new build we will have to pay stamp duty but others are saying that regardless what size it is if its a new build its exempt from stamp duty. Anyone able to clarify this for me?

It comes down to more than simply the size. If it is less than 125sqm (edit: and NEW) then it is SD exempt. If it is over 125sqm it comes down to additional information to whether you will have to pay SD or not. So technically both could be right given a specific property.

As the details are quite exact (and I couldn't quote them off the top of my head) your best bet is to jump onto the Revenue site, www.revenue.ie, and look up the details there. It'll provide everything you need to know.

Be sure to clear any issues over buying together and your FTB status with your solicitor. Technically in this situation you should not be claiming FTB status for TRS (unless under the 7 year period for FTB TRS), SD etc. so any measures taken to avoid this will more than likely be considered as tax evasion.

 

[countrygirl]

Thanks at last a straight answer!