Probably not. There are circumstances in which you can retain your PPR status while abroad but as far as I know (get independent professional advice of you want to know for sure!) it would involve some or all of (a) not collecting rental income (other than rent a room income maybe) (b) somebody (most likely a family member) living there on your behalf and (c) going abroad due to secondment in work as opposed to voluntarily for holidays.Hi. As a first time buyer i paid no stamp duty. I now want to go away travelling and therefore will rent my apartment out. Since i am renting within 5 years of purchase i am liable for Stamp claw back. I have two questions: Is there a way of avoiding paying this?
I doubt it and it has no relevant to any SD liability that may arise in any case.is it legal to have a clause in the lease stating that no rent relief is available?
You would really need to get professional advice to see if you could retain your PPR status while abroad. However renting the property out especially if you collect more than €7,620 p.a. in rental income (the owner occupier rent a room limit) and maybe even regardless of this, will most likely make this a moot point. More likely that not you will be liable for the SD clawback, rental income tax and possibly CGT on some portion of any resale gain by renting the property out while abroad.cheers club man. i am actually going away to work and at the end of my stint working abroad (cayman islands), i then plan on doing a bit of travelling. With this in mind, would it have a bearing on the issue of claw back, in your opinion?
Definitely not if you're renting it out - a couple of years ago, friends of mine were in a similar position: Mr. A was seconded abroad, and in order to avoid incurring a stamp duty liability, Mrs. A maintained residence in their family home for an additional two or three months (to bring them up to the five years) before joining him. That allowed them to avail of the rent-a-room scheme for the period while Mrs. A was still resident - and note, she really did live there in the period - and then to arrange a tenancy which took effect within a couple of days after the five years terminated.You would really need to get professional advice to see if you could retain your PPR status while abroad.
That's what I assumed alright.Definitely not if you're renting it out
From when you take legal beneficial ownership of the property (i.e. close a property purchase and get the keys) as far as I know.
How would having "trustworthy" tenants alter your SD liabilities!?
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