Renting out house for move

HI,
We are thinking of moving back to the UK. We bought a house here in Ireland approx 3 yrs ago as 1st time buyers. Ideally, we would like to rent out our house here in Ireland and buy again in UK. Would we get 1st time buyer deals in UK as we have never bought in the UK?
What are the tax implications for renting out our house in Ireland?
If we sell our house in Ireland are we liable for any fines/extra taxes - I heard that we have to pay back sthg as we selling up before 5 years are up???
Has anyone done this before? Any help/advice would be really appreciated as I am not sure about any of this!
Thanks
Angelina

If the house was new when you bought it you will be liable for a Stamp Duty clawback if it is rented out within five years. If it was second hand this penalty will not apply.

Sarah

www.rea.ie

Sarah W said:

If the house was new when you bought it you will be liable for a Stamp Duty clawback if it is rented out within five years. If it was second hand this penalty will not apply.

Sarah

www.rea.ie

Click to expand...

Actually it will apply. They would have paid stamp on a 2nd hand house at the FTB rate which would be less than the investor rate that they would have been liable for, so the difference between the 2 would be liable from the day the house is first rented out.

Thanks. Does anyone know how I calculate stamp duty clawback? Would it be my mortgage provider who would be best to talk to?
Thanks

SD clawback is covered many many times on AAM - basically where a property purchased as an owner occupied PPR is rented out (other than under the owner occupier rent a room scheme) within the first 5 years then the owner is liable for the difference between the SD paid on the original pruchase (possibly 0%) and what an investor would have paid at the time on the same purchase. Your mortgage provider has nothing to do with this. If you should talk to anybody it's an independent tax advisor. But the relevant information is available on the Revenue.