Am I liable for stamp duty on existing house?

[Unit]

I'm hoping to sell my house shortly to trade up. I signed contracts in May '02 but didn't move in until July '03 due to delays in building the house. The house is now worth about €300k and I bought it as a ftb. Am I liable for any stamp duty on this house when I sell it? I've had conflicting advice. Thanks.

 

[elcato]

You only pay stamp duty on purchase of a house and as you are just trading up you will not be liable for tax as long as its your PPR. You will be liable for SD on the purchase of a new one as a non-first time buyer unless its new.

 

[ClubMan]

You only pay stamp duty on purchase of a house

Or if you buy a property as an owner occupier but subsequently rent it out other than under the rent a room scheme within five years of purchase in which case a clawback of stamp duty (to the amount that an investor would have paid for the same property at the time) applies. Based on the information posted this clawback does not seem to be relevant here though.

I'm hoping to sell my house shortly to trade up. I signed contracts in May '02 but didn't move in until July '03 due to delays in building the house. The house is now worth about €300k and I bought it as a ftb. Am I liable for any stamp duty on this house when I sell it? I've had conflicting advice. Thanks.

Are you sure that you mean stamp duty and not perhaps Capital Gains Tax? CGT on the sale of one's Principal Private Residence (PPR) should not be an issue unless the property was rented (other than under the rent a room scheme) at some stage.

 

[Unit]

Thanks Clubman and elcato. It was capital gains tax that the person was referring to. The house is my ppr and was never rented so as I understand it I'm not liable for any tax on my existing house.

 

[ClubMan]

The house is my ppr and was never rented so as I understand it I'm not liable for any tax on my existing house.

Correct - as long as you sell it within 12 months of vacating it and moving to a new PPR.