Avoiding stamp duty on contents

L

LeperKing

Registered User
Messages
14
I'm going to ask the estate agent to do up a list of contents and their valuation, of the house that I'm buying.

What will the revenue let you include in the list?

I'm thinking so far...

Furniture,
Carpets,
Light fittings,
Kitchen appliances,
Gas/Oil boiler,
Blinds,
Sheds.

Can anyone else think of anything else?

LK
 
Just looking over previous posts, I'm not doing to this to fall under a smaller stamp duty bracket. In case people are thinking I have immoral intents.


LK
 
If the value of the contents is true and accurate and that value means that you drop into a lower stamp duty bracket then there's nothing immoral about it. Contents are not counted for stamp duty calculations.
I assume you are buying a house with contents included?
 
Just spoke to the revenue, it seems that it is at their discretion what can be valued for the contents. I asked if there was any published material that would explain the process for their decision. They said no! What a transparent system!

LK
 

Yes, contents included.

LK
 
Hi there
Just to clarify on a comment made by purple regarding the value of the contents resulting in you landing in a different stamp duty bracket........
The price you pay in total dictates the stamp duty bracket regardless of the value of contents but the stamp duty is only calculated on the value excluding contents.
For eg.
Stamp duty on house cost of Eur630k = 7.5%
Stamp duty on house cost > Eur635k = 9%
If you pay say Eur650k for your house, stamp duty will be owed at 9% = Eur58.5k
If the value of the contents is lets say Eur 40k, the cost excluding contents is Eur610k but this does not mean that the stamp duty rate is suddenly 7.5%. All that happens is that you pay 9% on the Eur610k = Eur54.9k and you do not owe stamp duty on the value of the contents.

Shakespeare
 
What a number of people do is to pay for the contents separately. You have 2 cheques - one to buy the house and another to buy the contents. The value of the contents are not reflected in the sale price. That means you have to come up with the price of the contents outside of your mortgage.
 

Yes - and that is fraud. And it involves a number of people lying or playing dumb - not just the vendor and purchaser. And it leaves both parties unprotected in the event of a dispute.

But LK has already said that he is simply trying to minimise quite legitimately the stamp duty payable. In my experience, in an average property, Revenue might ( and I stress might) accept up to 7-10K value for contents for a fully furnished property. If they decide to investigate ( yes they sometimes do) then it would be essential to be able to support value.

mf
 
You must log in or register to reply here.
Menu
Log in
Register