Clawback on stamp duty - how does it work?

L

loukkcat

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I am wondering about how the clawback on stamp duty works?

I am not suggesting anything illegal here, but just wondering what is the story if say, someone buys a house, then has to go abroad for a year before the 2 years of no stamp duty is up, but a relative stays on in the house for them (paying some rent ...or not) - i.e. it doesn't go through the PRTB... is someone liable for the clawback of stamp duty and a) how do revenue find out (are you expected to tell them? and b) how do they calculate how much you have to pay? is it the full amount or does it depend on how long you stay in the house?
 
Revenue clawback is the full amount - there's no pro-rating to take into account what proportion of the 2 years it was your PPR.
 
Presumably when you go abroad for a year you'd be claiming back the tax you'd paid on income for the year up to that point?

Follow through the logic and consequences of that and you should have most of your questions answered.
 
Hi all,
I bought an apartment with a mate back in March 2006. I then bought him out in August 2008 and will be there a total of 4 years in March 2010.

I am now looking to buy a separate place with my partner. Can anyone advise how long I am considered to be in my current apartment as regards PPR? Is it 4 years in March or two in August? I did not pay stamp duty when I bought him out as I was told it was seen as my PPR.

Cheers,
M
 
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