A
Adaman
Guest
Hi all.
I know that if you rent out a PPR within the first five years of ownership that the home owner is liable for Stamp Duty clawback. I understood that the liability this was simply difference between what should have been paid by an investor at the time of sale minus any stamp duty already paid (plus interest and penalties if appropriate).
However, I was told that this stamp duty clawback could be done on a time apportioned basis. Therefore, if the house was used as a PPR for 3 years and let out for 2 years (within the first 5 years), then the stamp duty clawback would be two fifths of the above amount, as the house was only let for two fifths of the first 5 years.
Is this true? If it is, it is not very well explained on the revenue web site.
Thanks.
I know that if you rent out a PPR within the first five years of ownership that the home owner is liable for Stamp Duty clawback. I understood that the liability this was simply difference between what should have been paid by an investor at the time of sale minus any stamp duty already paid (plus interest and penalties if appropriate).
However, I was told that this stamp duty clawback could be done on a time apportioned basis. Therefore, if the house was used as a PPR for 3 years and let out for 2 years (within the first 5 years), then the stamp duty clawback would be two fifths of the above amount, as the house was only let for two fifths of the first 5 years.
Is this true? If it is, it is not very well explained on the revenue web site.
Thanks.