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Stamp Duty Query - New house, then sell on

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  • 07-12-2007 11:27am
    #1
    ciarsd
    Registered Users Posts: 2,326 ✭✭✭


    Quick one folks.

    If a couple sell up their first property and purchase a new build (now as non first time buyers) just under 125 sq.m valued at €420K currently, they are exempt from stamp duty as a) it's their primary residence & b) its under the 125 sq.m total floor area threshold.

    Question then, what if they were to sell up say 2 years down the road, is there some sort of clawback on the stamp duty exemption?

    I can only find useful information on investment properties (i.e. rental) - where by the clawback has been reduced from 5 years to 2 years with some conditions here

    Thanks in advance for your help. :)


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    #2
    Glenbhoy
    Registered Users Posts: 1,853 ✭✭✭Glenbhoy


    No clawback - that clawback you refer to is only applicable when purchasers taking advantage of a stamp duty exemption (FTB or new build) decide to retain the property and rent it out.
    That aside, it's not really of any advantage to you, as obviously the next purchasers (unless FTB's) will have to pay stamp duty, all in all, I can't see any advantages in this.


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    #3
    ciarsd
    Registered Users Posts: 2,326 ✭✭✭ciarsd


    Glenbhoy wrote: »
    No clawback - that clawback you refer to is only applicable when purchasers taking advantage of a stamp duty exemption (FTB or new build) decide to retain the property and rent it out.
    That aside, it's not really of any advantage to you, as obviously the next purchasers (unless FTB's) will have to pay stamp duty, all in all, I can't see any advantages in this.

    Thanks glenbhoy - I'm not asking for the purposes of trying to get 'one' up, merely seeing where I or someone else might stand should circumstances change within a year or two of moving home.


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