Primary residence question..

R

revbelfast

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This may not be a property investment question but I think it is! I'm a church minister and would love to know my status as regards owning a home. I live in a house provided by the church (and owned by them) but hope to buy my own property in Dublin soon. Is it possible for me to own a house and call it my primary residence even though I don't live in it? I.e. for stamp duty purposes. I understand that I couldn't charge rent but would I be allowed to let a family member stay in it and it still be my primary residence? Could I receive up to the limit of the rent-a-room scheme as well? I know in the UK there is some special position for a person who according to their job terms must live in the house provided ('tied-cottage' I think it's called). Does anything similar exist here? Any help would be most welcome.

Revbelfast
 
revbelfast said:
Is it possible for me to own a house and call it my primary residence even though I don't live in it?
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In general - no. There are some exemptions such as being seconded abroad in work and having somebody live rent free in the property on your behalf and maybe also having a second "home" which is provided rent free to a family member (not 100% sure on these exemptions so get professional advice if necessary).
 
Ring the stamp duty branch of the revenue and ask them. But remember although they are helpful some of the staff there don't always know all the rules which are quite comples. You could say try ringing one person today and a different person next week. It would be helpful if they sent you/directed you to documentary proof. Sending them an email or letter query might get you a more correct response.
 
Bronte is very much correct, you could ring/email 3 time and get 3 different answers. Assuming you are COI, I would suggest getting in touch with the COI Representative Body and getting them to but the question to Revenue. As a matter of interest COI Ministers have their own PRSI (Social Insurance) Class "E", as they are classifies as self employed but don't own the business!

Towger
 
Thanks for your replies. I'm aware that my tax status is different in the Republic of Ireland (I don't have a church there yet but it is likely in the near future) and that I would be considered self-employed by the state. What are the drawbacks/advantages of being self-employed as far as buying a property that one day may be my home but for the time being is really a buy-to-let? Maybe it changes nothing. There seem to be so many permutations in my situation, I simply can't work out the best! Anyone know a financial advisor who would have good knowledge of both Southern and Northern propery tax law?

Thanks again.
 
Wouldn't it be better to save the money in different kind of investment than buy right now when property prices are on a downward trend? It sounds like you're in an ideal situation to wait it out, and there'd be no advantage to buying now - not to mention dealing with the hassle of trying to figure out how to buy a primary residence that actually isn't your primary residence.
 
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