Stamp duty query

Enigma IE

I have a query regarding stamp duty, hopefully someone will be able to clarify my position, as the information I have found so far in confusing.

I purchased my property (~75 sq meters) in September 2008. I was exempt from stamp duty and it is my primary residence.

I am now looking at renting the property and moving it with my partner. I am trying to figure out if I may be liable for any stamp duty on my own property? I had heard something before about I would not be able to sell or rent my property for a period of 5 years.

Looking here specifically at this paragraph, my understanding is that the 5 year requirement was abolished and reduced to 2 years?
"Exemption for new houses up to 125 sq m in size

Prior to Budget 2011, owner-occupiers of new houses/apartments were exempt from stamp duty, provided that the area of the house or apartment did not exceed 125 sq. metres (1,346 sq. feet) and a Floor Area Compliance Certificate had been issued. The house or apartment must not have been occupied prior to its purchase. It had to be occupied as the owner's main place of residence for a certain period from the date of the purchase deed – i.e. you could not derive rent from the property other than under the 'Rent a Room' scheme. This period was originally 5 years but was reduced to 2 years on 5 December 2007. However, if you sold the house during this period you did not have to pay stamp duty. Budget 2011 abolished this exemption with effect from 8 December 2010."


Therefore, I would NOT be liable for any stamp duty if I rent out my property.

Can anyone clarify?

Enigma IE

Bump.

Enigma IE wrote: »

I have a query regarding stamp duty, hopefully someone will be able to clarify my position, as the information I have found so far in confusing.

I purchased my property (~75 sq meters) in September 2008. I was exempt from stamp duty and it is my primary residence.

I am now looking at renting the property and moving it with my partner. I am trying to figure out if I may be liable for any stamp duty on my own property? I had heard something before about I would not be able to sell or rent my property for a period of 5 years.

Looking here specifically at this paragraph, my understanding is that the 5 year requirement was abolished and reduced to 2 years?
"Exemption for new houses up to 125 sq m in size

Prior to Budget 2011, owner-occupiers of new houses/apartments were exempt from stamp duty, provided that the area of the house or apartment did not exceed 125 sq. metres (1,346 sq. feet) and a Floor Area Compliance Certificate had been issued. The house or apartment must not have been occupied prior to its purchase. It had to be occupied as the owner's main place of residence for a certain period from the date of the purchase deed – i.e. you could not derive rent from the property other than under the 'Rent a Room' scheme. This period was originally 5 years but was reduced to 2 years on 5 December 2007. However, if you sold the house during this period you did not have to pay stamp duty. Budget 2011 abolished this exemption with effect from 8 December 2010."


Therefore, I would NOT be liable for any stamp duty if I rent out my property.

Can anyone clarify?

killers1

Enigma IE wrote: »

Bump.

You will not be liable for any stamp duty if you rent it out now because it was your main residence for longer than the 2 year requirement.