My mate is currently looking at selling their primary residence (bought for 178k euro, looking @ 250k for selling price)
So they are looking at a difference of 72k euro.
Now they want to purchase a new house to live in, this is newly built one off house @ 285k euro.
Now roughly what sort of CGT are they looking at and stamp duty.
Anything else there to bite them in the ars*?
Selling primary residence = no CGT. A bit grey if they have not lived there 5 years but there so many ways to explain the neccesity to move, ( work, up sizing due to kids etc ) that I am pretty sure there is no problem here.
If they buy a new build they will have no Stamp to pay if it is for owner occupy, second hand will require stamp. the limits are easily found on web.
So its happy days in the sell and Buy a new Gaff scenario.
"Selling primary residence = no CGT. A bit grey if they have not lived there 5 years but there so many ways to explain the neccesity to move, ( work, up sizing due to kids etc ) that I am pretty sure there is no problem here."
Don't understand what you mean about the 5 years thing Monkeyboy ? If it was their PPR, it doesn't matter if they were only living in it 5 days. Maybe you are talking about stamp duty clawback, but this would only apply if they were planning on renting it out, not selling it.