tax and stamp duty implications on moving house

  • Thread starter DjangoBlack
  • Start date
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DjangoBlack

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Hello,

I have a query as to what are the tax and other implications to my house are.My situation is as follows.

We bought House 1 as a first time buyer in june 2002 for 148,429 euros and this was our primary residence. First time buyer grant was received (3,810).

In september 2003 my wife inherited a 1/3 share in a house (i.e. House 2) from her recently deceased father. Her share was worth 70,000.
September 2003 was when the will was finally sorted out.

We bought the other 2 shares of the house, i.e. we payed 140,000
Now we have moved this new house (since sept 2004)and wish to rent out the first house.

Q1. Do we have to return the first time buyers grant on house 1?
Q2. Are there stamp duty implications on either(i dont think so, but i am not sure)?
Q3. When do I have to tell the tax man which is my primary residence (now or year end).

Hope you can help
DjangoBlack
 
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