CGT/Stamp duty??

L

liambeano

Guest
Hi, I'm in the process of selling my PPR which is was my first time buying. I will make about 50,000 euro on this sale. However I plan to buy an apartment which will become my PPR for 240,000 euro with this money. Do I have to pay CGT on my house sale and will I have to pay stamp duty on the apartment?
 
liambeano said:
Hi, I'm in the process of selling my PPR which is was my first time buying. I will make about 50,000 euro on this sale. However I plan to buy an apartment which will become my PPR for 240,000 euro with this money. Do I have to pay CGT on my house sale?
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No - assuming it was your PPR and was never rented out (apart from use of the 'rent-a-room' scheme, there is CGT on the sale of your PPR.
liambeano said:
will I have to pay stamp duty on the apartment?
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Don't think so, but others may well be able to confirm this.
 
As a non first time buyer you will be liable for stamp duty on any second hand property over 127k. If you buy at 240k then the rate is 4% but of you pay over 254k its 5%. If its a new apartment you have no stamp duty to pay (as long as its under 125 sq. m. afaik).
 
Yes - see
If the area of the house or flat is greater than 125 sq. metres (1,346 sq. feet), some stamp duty is payable if the Chargeable Consideration is above the relevant exemption threshold. (The stamp duty is assessed on either the cost of the site or 25% of the cost of the site plus the building costs (less VAT), whichever is the greater figure. This figure is called the Chargeable Consideration.
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