Stamp duty liability for 1st time buyer renting within 5 years of purchase

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RonanL

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Hi everyone.

I bought my apartment 2 years ago as a first time buyer. I am moving to france for a year to work (although I'll still be paid through the Irish office where I currently work). Anyway, I am planning to rent out my apartment, but I am wondering what I will have to pay the revenue for stamp duty and rental income? I have looked at the contracts, and the price of my apartment was broken in two - 96K for the site, and 114K for the building. By the way, i'm planning to charge 750 euro pcm rent.

Any advice would be much appreciated!

Thanks,

Ronan.
 
Cheers bacchus. I was mainly wondering about the way in which the price is broken into site and building. A friend who is a second time buyer mentioned to me that he is not paying stamp duty because the "building" portion of his house price is only something like 120K. I can't seem to find any information on this - is he correct?
 
I think your friend has been referring to the Chargeable Consideration

Extract from OASIS below:
Owner-occupiers of new houses/apartments are exempt from stamp duty, provided that the area of the house or apartment does not exceed 125 sq. metres (1,346 sq. feet) and a Floor Area Compliance Certificate has been issued..........
If the area of the house or flat is greater than 125 sq. metres (1,346 sq. feet), some stamp duty is payable if the Chargeable Consideration is above the relevant exemption threshold. (The stamp duty is assessed on either the cost of the site or 25% of the cost of the site plus the building costs (less VAT), whichever is the greater figure. This figure is called the Chargeable Consideration

Link is
 
Ok, its all making sense now. Cheers for the help.

Don't think its worth my while renting the place, since I'll be back in a year.

Thanks again!
 
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