Where do I stand wrt Stamp Duty

Q

qwerty1

Guest
I bought a house 3 years ago for 179,000 Euro. My job requires me to be at work at 8am, 70 miles away, for the next three years.
I'd like to rent out my house, which has a morgage of 140,000 euro and then rent another house closer to work.

I have no interest in selling my house as I would like to live in it long term. This is purely a short term measure.

Would I be liable for stamp duty and if so how much?
Many thanks.
 
You would be liable for the difference between what an investor would have paid in SD at the time of the purchase less whatever you paid. An investor would have paid 3% on that purchase at today's rates (which I think also applied 3 years ago) - i.e. €5,370. Although it may be that you apply the SD rate to the ex VAT price of the property - not sure. This liability would arise as soon as you rent the property. There is a possibility that you could continue to claim PPR status on the property if your work requires you to travel and your don't exceed the rent a room rental income of €7,620. But I am not 100% sure about this and you should get independent, professional advice on this to be sure. There are obviously also other issues
involved if you do decide to rent the property out.
 
Thanks for that.
I think i avoided paying stamp duty by about 3 grand. So if I want to rent out the house I have to stump up 5+ grand?
 
Had a look at the docs again. I think 189 might be more like it.
 
€189K is not one of the SD threshold amounts either! €190,500 is though. Anyway - this is all irrelevant as far as I can see.
 
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