Tax and Stamp duty when renting a house

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colin_hanley

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Hi, myself and girlfriend are in the processing of applying for mortgage/buying a new house in Dunboyne. She currently has a house and is considering holding on to it and renting it. She bought the house 3 years ago. Can anyone explain the tax implications on this. I know she will have to pay tax on her rental income, but from reading some of the post on AAM, I can see mention of Stamp duty clawbacks etc. Does this mean she has to pay the stamp duty she didn't pay when purchasing the house ? Will this be stamp duty on the original sale price ? Will she have to pay it as soon as she rents it or if she sells it in the future ?
Sorry about the amount of questions.
Thanks,
Colin
 
Hi Colin
She will be liable for the stamp duty that would have been applicable to an investor at the time that she bought the house on the original purchase price.
This liability is due from when she first rents the property (ie becomes an investor)
Hope
 
Hi Colin
She will be liable for the stamp duty that would have been applicable to an investor at the time that she bought the house on the original purchase price.
This liability is due from when she first rents the property (ie becomes an investor)
Hope this
 
Thanks for that Shakespeare, would she have to get in touch with Inland Revenue with regards to working out this payment ?
Thanks,
Colin
 
She would only have to get in touch with the Inland Revenue if she lived in the UK. In the Republic of Ireland, she should get in touch with the Revenue Commissioners
 
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