Moving to USA for 1 year - PPR Renting

[Cityliving]

A friend is moving to the states for 12 months and has a PPR in Dublin and they were FTB so paid no stamp duty on purchase. If they wish to rent the house out in this time will they have to pay a claw-back?

With thanks

 

[Howitzer]

Yes.

 

[legend]

if they are moving because of job... company should pay...

happened to us in the past......

 

[Persius]

If the purchase was over 5 years ago, then they won't have to pay the clawback. Otherwise they will.

 

[Cityliving]

Thats what I thought they are only there 1 year.

Thanks

 

[The Viking]

Is the clawback proportional according to the number of years living in it?

 

[Persius]

No, it's an "all or nothing" clawback.

 

[Faltermeyer]

I have the same query as I'm considering buying in the coming months, but wish to leave the country for at least 6months, probably from the middle of next year.

Is there a minimum amount of time you need to be out of the country for the clawback to apply?

 

[ClubMan]

No - once the property is rented out other than under the owner occupier rent a room scheme (which requires that your owner occupier PPR status is retained) then the SD clawback applies. If in doubt (i.e. about whether or not you can retain your owner occupier PPR status while abroad) then you probably need professional advice.