Owner occupier

C

cjg

Guest
I live in the UK but want to move back to Ireland. I am buying a new property that has reduced stamp duty (>125m2) if I am owner occupier. How soon after buying do I need to move back to be considered an owner occupier?
Also if i dont rent it out but move back within say 1/2 years can I argue that I am not an investor and therefore an owner occupier?

any thoughts??
 
Hmmm, not 100% sure but I think as long as you dont let out the property and its within a reasonable timeframe before you move in (within a year), the revenue will accept you're an owner occupier. For what its worth there's no guarantee[FONT=&quot][/FONT] that the deal will be sorted out on time anyway so you may indeed be only moving in on point of sale.
 
Hi

Please edit your thread title to make it more relevant to the nature of the query.

Thanks.
 
You'll be fine, the revenue will not be able to establish if you are away or renting the property if you are claiming Owner Occupier relief.

It would cost them too much money to check the validity of all clients claiming Owner Occupier relief!
 
wouldn't they know by your tax returns for the year ? If you didn't have any earnings for a year wouldn't they pick up on that straight away . Also, I think that the normal process is to pay up the stamp duty at the closing so that your solicitor can proceed 'in funds' and close the deal. If you're still living abroad when you draw down on funds could this be a potential issue anyhow ? I don't know if revenue would actually 'refund' the stamp duty once it's paid - maybe some other posters have experience of that .
 
Pexus1976 said:
You'll be fine, the revenue will not be able to establish if you are away or renting the property if you are claiming Owner Occupier relief.

It would cost them too much money to check the validity of all clients claiming Owner Occupier relief!
Click to expand...

Is this post recommending what is essentially tax evasion, no matter how small?

Bad, bad advice. Can you also post the risks invloved if the Revenue do manage to catch the person? How do you know the Revenue will not find out? Is this something that you have successfully done in the past?
 
Pexus1976 said:
You'll be fine, the revenue will not be able to establish if you are away or renting the property if you are claiming Owner Occupier relief.

It would cost them too much money to check the validity of all clients claiming Owner Occupier relief!
Click to expand...
This is rubbish. For one thing if the tenant claims rent relief then that's a simple low cost way for Revenue to put two and two together. There are also other ways that they could do this without much hassle.
 
Pexus1976 said:
You'll be fine, the revenue will not be able to establish if you are away or renting the property if you are claiming Owner Occupier relief.

It would cost them too much money to check the validity of all clients claiming Owner Occupier relief!
Click to expand...
Sounds like the advice given to those who encouraged tax evasion through bogus non-resident accounts in the 70's and 80's - The holders of those accounts are now facing very large Revenue bills including penalties and interest.
 
Yes your all absolutely correct! It was a bad suggestion. I would not recommend tax evasion.
 
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