FTB Status when you have previously owned a property outside the Republic of Ireland?

J

Jaydee

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Has anyone ever tried.......to apply under 1st timebuyer status when you have previous owned a property outside Ireland.

My mortgage advisor told me that they dont check that much into it. I previously owned 50% of a property in Northern Ireland but have now sold it on.

My partner and I are looking at a property that will be stamp free if you are a first time buyer. We were considering applying and seeing what happened. If the issue came up then I would just play dump under the pretence that I thought it only applied if you bought in Ireland before.

PS. My partner is a FTB

Has anyone any thoughts/advice on the matter

Cheers
 
Re: Has anyone ever tried...

I know of someone who did this. She was a FTB and he previously owned a place in Northern Ireland. They went through with it and all went well.
 
Re: Has anyone ever tried...

A first-time buyer is defined as a person (or where there is more than one buyer, each person):
  • Who has not on any previous occasion, either individually or jointly, purchased or built on his/her own behalf a house in Ireland or abroad;
  • Where the property purchased is occupied by the purchaser or a person on his/her behalf as his/her only or principal place of residence and
  • Where no rent is derived from the property for five years after completion of the current purchase.
-=-=-=-

So you are not all of the above its tax evasion, and all the fun that goes with that if you are caught....
 
Re: Has anyone ever tried...

You know, I actually don't get this "or abroad" bit. Let's say you're a foreigner owning a place in your country and then you come over to Ireland to work and live, etc. Then you decide to buy a house and because sometime in your life before you started paying tax in ireland you purchased somewhere you suddenly are not entitled to avail of tax-relief and reduced stamp-duty. What's the sense of that?
Not sure if your partner is from Northern Ireland?
 
Re: Has anyone ever tried...

Why should it be different for a 'foreigner' than for citizens?
 
Re: Has anyone ever tried...

Well, if you've never lived in Ireland and never paid any tax here, but lived and paid tax somewhere else and bought somewhere else and had to pay stamp duty there and the rest and there is no such thing as tax relief or stamp duty cut-off in your home country and then you come here and work and live here and pay tax here, why should you be penalised when you could not avail of these advantages before? I think we're paying tax enough as is and I do really not understand in the first place why you have to give the revenue 20K on a house you're buying that cost a fortune already anyway. The whole stamp-duty bracket system makes no sense to me. I think there should be the same % on all purchases irrespective of how much the house is, then all these problems wouldn't arise in the first place.
 
Re: Has anyone ever tried...

Petal said:
I know of someone who did this. She was a FTB and he previously owned a place in Northern Ireland. They went through with it and all went well.
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If she had bought rather than inherited the NI property then she was engaging in fraud/evasion by illegally benefiting from FTB reduced SD and possibly other FTB benefits. Nobody in their right mind would recommend fraud/evasion as a prudent course of action.
Has anyone ever tried...
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Please note the on making thread titles meaningful.

Please also note that threads recommending illegal behaviour may be deleted.
 
Re: Has anyone ever tried...

Just to clarify, I'm not recommending that anyone should try to follow any fraudulent action, I have just come across someone who did go down that route and got away with it.
 
Re: Has anyone ever tried...

Although its getting off topic, to reply to Petal, I don't see the logic in that argument at all. For a start what about Irish citizens who make their first purchase abroad - should they also be allowed to avail of first time buyers relief here? Secondly wouldnt that give non-national investors an advantage over Irish buyers? Thirdly what about people who HAVE already availed of some similar exemption or relief in their home country, such as England? As it stands both the Irish and non-nationals have the same rights, which IMO is as it should be.
 
Re: Has anyone ever tried...

I get your point Vanilla. I'd say my argument is not that straight forward. It would have to come with even more rules, say someone would have to be a resident in Ireland for a while and investors could not be exempt alltogether, etc. etc. I just know that where I'm from, if you purchase a house you pay 4.5% stamp duty and there is no exemption and no relief. So if I had purchased something back home prior to moving here (I wish!), I'd be in trouble trying to buy here....
 
Re: Has anyone ever tried...

Petal said:
Just to clarify, I'm not recommending that anyone should try to follow any fraudulent action, I have just come across someone who did go down that route and got away with it.
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Your first post should really have read as follows so:
Petal said:
I know of someone who did this. She was a FTB and he previously owned a place in Northern Ireland. They went through with it and all went well SO FAR.
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Thankfully Revenue's ability to track down tax evaders is improving all the time so that this real rip-off can often be dealt with.
 
Re: Has anyone ever tried...

This post will be deleted if not edited immediately, if I had known that people feel soo strongly about this, I would have said nothing! Each to their own, that's my opinion.
Are you working for the revenue, clubman?
 
Re: Has anyone ever tried...

Historically in Ireland, and up to relatively recently, lot's of people "got away with" evading Tax and their responsibilities to society, by investing in bogus "off-shore" accounts, NIB-CMI/AIB DIRT scams, Ansbacher, dodgy single-premium Insurance products.

All of these scams have been rumbled. I'm sure many other scams are still out there.

As a consequence, the tax-compliant citizens were penalised by having to carry the burden for those who refused to contribute by paying their just and due taxes.

I don't think anyone should be on here advocating what is illegal tax evasion
 
Re: Has anyone ever tried...

I say it again, I'm not advocating any such thing. Jaydee asked if anyone knew of such practice and all I said is that I know of someone. By no means do I recommend or advocate that anyone should do any such thing.
 
Re: Has anyone ever tried...

Petal said:
This post will be deleted if not edited immediately, if I had known that people feel soo strongly about this, I would have said nothing! Each to their own, that's my opinion. Are you working for the revenue, clubman?
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No - I don't work for Revenue but I do believe that tax evasion is a real rip-off unlike some of the so called rip-offs that people complain about. Do you think that people should ignore the issue and not point out that tax evasion is illegal and not prudent?
 
Re: Has anyone ever tried...

Everyone knows that tax evasion is illegal, and I'm not a fan of it either, but I don't feel as strongly about it as some others I guess.
 
Re: FTB Grant when you have previously owned a property outside the Republic of Ireland?

In reply to the OP - the FTB grant no longer exists.

Oh and how do you play "dump" or would we be better off not knowing?! :D

Sarah

www.rea.ie
 
Re: FTB Status when you have previously owned a property outside the Republic of Irel

Hi Sarah,

I recast the question and inadvertantly typed FTB Grant instead of Status. The OP was wondering about liability for stamp duty.

Sorry.

ajapale
 
Thankfully Revenue's ability to track down tax evaders is improving all the time so that this real rip-off can often be dealt with.
Click to expand...

Do tell Clubman - I would be shocked if people in this situation were ever caught, I'm not condoning it, but neither would I condemn it, as I've stated before stamp duty is an unfair tax. What is the logic behind new builds being exempt and second hand not? Would it be because the builders lobby runs the country (must take meself off to Galway races this year).
 
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