Stamp Duty Clawback question

K

krinpit

Registered User
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Hi,

I have a quick question regarding Stamp Duty Clawback. I have just bought an apartment and am considering letting it out after a year or so.

I'm a first time buyer and the property cost 248k. It is technically a second hand property (even though it hasn't been lived in at any stage).

So, What sort of stamp duty would I be liable to pay if I was to let it?

Thanks in advance.
 
Hi Krinpit,

As far as i am aware, if you purchase the property as a FTB and you rent it out within the first years then you are treated as an investor and not a FTB therefore you will be liable for the stamp duty whatever the rate is at the time of purchase.

Can i ask why you want to rent it out? You could live in yourself and rent out the other room(s) and claim rent a room relief earning up to €7,620 in rental income without being taxed on it! Maybe that is not an option for you i don't really know.

Jockey
 
Thanks Jockey.

The 2 main reasons that I would let it out rather than rent-a-room are:
  1. It's a one bed apartment
  2. I'd prefer to rent in another area
 
I see. The stamp duty payable as far as i can see would be €248,000 * 4% = 9,920.
That would be a kick in the teeth really to have to pay that!

Jockey
 
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