stamp duty when selling

[moneypenny]

Hi,

Quick query on sale of first time buyer property - is one liable to pay back stamp duty if the property is sold within 5 years? I assume this stamp duty is only applicable for properties over 317K?

Does the same apply for an owner occupier selling to upgrade within 5 years?

Many thanks.

 

[ClubMan]

Quick query on sale of first time buyer property - is one liable to pay back stamp duty if the property is sold within 5 years?

Only if the property was rented out (other than under the owner occupier rent a room scheme) within five years of purchase as an owner occupied PPR. And in that case the SD clawback applies at the time the property is first rented and some portion of the eventual resale gain will be assessable for CGT. If the property was always your home for the period of ownership then no SD clawback (or CGT on any gain) applies.

Does the same apply for an owner occupier selling to upgrade within 5 years?

See above. Perhaps people are being mislead by inaccurate information published in Friday's Irish Times which was mentioned in another thread?

 

[moneypenny]

thank you!