Stamp duty and first time buyer question

[BetsyClark]

Hi

I am selling my flat in the UK and returning to Ireland. The flat is in my name and the mortgage is in my name. My husband is not named on the deeds nor has he ever owned or bought a property.

I am on maternity leave at the moment and don't intend finding another job for another year so our new mortgage will be on my husbands salary alone. Can he buy the house in his name, with a mortgage in his sole name and therefore be a first time buyer from a stamp duty point of view?

Thanks

Betsy

 

[LDFerguson]

From the Revenue FAQ on Stamp Duty...
[broken link removed]

"What is the position where a person, being a first time buyer, purchases a house using the proceeds of the sale of a house owned by their spouse or partner who is not a first time buyer?
Where a person who is a first time buyer uses the proceeds of the sale of the house they previously occupied which was owned solely by their spouse or partner to buy a house solely in their own name, first time buyer relief would not be available as the spouse or partner (not being a first time buyer) would be providing the purchase monies for the house."

My reading of that would be if you are putting up the money to buy the house your husband wouldn't qualify for the Stamp Duty exemption. By extension it would seem to infer that if you're not putting up the money then he would qualify.

But that's just my interpretation and I'm not a qualified tax practitioner. I'd suggest you speak to a solicitor who will be able to give you definitive advice.

Liam D. Ferguson
www.ferga.com