stamp duty / CGT

[oscarp]

hi

we're considering relocating to north dublin, probably balbriggan or skerries, over the next 9 months.

regarding taxes that are due on a relocation, can someone confirm my understanding:

As this is my principal private residence, I won't have any CGT to pay on the gain. I will have to pay stamp duty in the new place.

Also, the deeds to this house is under my name, but the mortgage is in mine and my wifes. is it possible that the new house could be in my wifes name only, so we could avail of FTB exemptions on stamp duty?

 

[plant43]

As it is your PPR no CGT will be due.

You might not have to pay stamp duty on a house, if it is under 125sqm (I think) and is a new build.

The loophole mentioned above to evade SD has been closed as far as I'm aware.

 

[ClubMan]

As this is my principal private residence, I won't have any CGT to pay on the gain.

Unless you rent it out or don't resell it within 12 months of vacating it then you qualify for a full CGT exemption.

I will have to pay stamp duty in the new place.

Not if it's a new build under 125sqm or a second hand property under €127K (?) (the latter being unlikely I guess).

Also, the deeds to this house is under my name, but the mortgage is in mine and my wifes. is it possible that the new house could be in my wifes name only, so we could avail of FTB exemptions on stamp duty?

I don't think so - there are many existing threads on this issue which might be worth checking. See my signature link for tips on using Google to search AAM.

 

[Stifster]

CM's right, no dodging the stamp duty that way.

 

[oscarp]

ok thanks for the feedback, i'd have been surprised if a couple could get FTB grants first, but it was definitely worth checking out!

not having to pay cgt is a relief though!!

 

[ClubMan]

Unless you rent it out or don't resell it within 12 months of vacating it then you qualify for a full CGT exemption.

Sorry - renting it out here may be irrelevant after all. As long as you dispose of it within 12 months then whether or not you rent it out may not affect the CGT exemption. Not 100% sure on this. Obviously renting a former PPR out within 5 years of the original purchase would trigger a stamp duty clawback.