parent-child reduced Stamp Duty? ?

J

justasec

Guest
If someone could advise on the following scenario, I'd be grateful:

My wife's father and his brother are selling a property to my wife and I at the market value. We already own our own home. The new property is costing €500K and will be a residential investment property.

Are there any concessions on stamp duty in this case given that the sale is parent to child (albeit partially) and if so how would it apply?

Any info would be gratefully received.

Thanks in advance

Justasec
 
There is no relief if the property is sold to you and your wife. However, if it is sold to your wife only, the applicable stamp duty will be reduced by 50%.
 
Thank you very much Nige. I think I'll stay out of that transaction if it means saving 13K!

Justasec
 
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