Do I have to pay stamp duty?

T

tinal

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Hi All

Myseld and my husband are hoping to buy a new house. I bought our current home 9 years ago as a first time buyer. We are intending to rent out our current home and move into the new house..Are we liable for stamp duty on the new property? It is a new build

The auctioneer has told us no but what I can figure out from Oasis etc we would have to.

Thanks

t
 
no, you don't. After 5 years, you're not liable. As far as i know anyhow. Sarah W will know.
 
tinal said:
Are we liable for stamp duty on the new property?
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For a new property if it is under 125sqm (with a floor cert to prove it - your solicitor should handle this side of things for you) you will be exempt from SD. Lots of discussion of this on AAM and you can read all about it on the Revenue or Oasis sites.

The 5 year rule on SD (clawback) is in relation to renting (not selling or buying, it's for OOs who turn into investors by renting) of a previously purchased property so not relevant in this case. Again, lots of info on AAM about this.
 
Hi Guys

Thanks for your replys so far..The square footage of the new house is 1850 sq ft and by my reckoning I would be liable for stamp duty on it but the auctioneer has told me no and on the property brochure it says "no stamp duty payable"...I'm confused..
 
tinal said:
The square footage of the new house is 1850 sq ft and by my reckoning I would be liable for stamp duty on it
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Potentially not.
Revenue said:
Over Floor Area of 125 sq. m


New houses or apartments which are purchased by an owner occupier (including a first time buyer) where the total floor area exceeds 125 square metres are charged with duty, at the appropriate residential property rate as per the table above, on the site value (excluding VAT) or one quarter of the total value of the house including the site (excluding VAT), whichever is the greater, subject to clawback.The size of the floor area must be certified by a qualified architect, engineer or surveyor
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[broken link removed]

So if the "site value" AND "1/4 of the total value" are both individually below €127k you'll still be exempt. Full details on the link provided.
 
Last edited:
Thank you Satanta

The price of the house is €320000, therefore, 1/4 of that is 80000, so we are exempt - Closure at last!!

Thanks all
 
tinal said:
The price of the house is €320000, therefore, 1/4 of that is 80000, so we are exempt
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Clarification to my above post: So if the "site value" AND "1/4 of the total value" are both individually below €127k you'll still be exempt.

Not throwing a spanner in the works, but this highlights that you may be exempt, I'd still have your solicitor do some checks to ensure that the cost of site wouldn't drag you into a potential SD area. I'd presume from the paperwork (advertised as SD exempt) you'll be fine, but I wouldn't consider anyone involved in the selling process as having your interests at heart so I'd definatly ensure that all is ok from someone on your side.

Given a property value of 320k the site shouldn't come anywhere near the 127k threshold, but depends on location.
 
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