Stamp duty and solicitors

L

looselines

Guest
when going ahead with a house purchase do solicitors ask just simply whether you're a first time buyer or do they specifically ask whether you have owned a house here or abroad - and how can the revenue check if you've had a house abroad???
 
looselines said:
when going ahead with a house purchase do solicitors ask just simply whether you're a first time buyer or do they specifically ask whether you have owned a house here or abroad - and how can the revenue check if you've had a house abroad???
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Why are you asking this very specific question? Are you trying to work out if , if you're not asked the precise question, if you could say, when you're caught out, that it was not your fault, the solicitor did not tell me/ask me the right question.

Stamp duty is not rocket science. And it is a self assessment tax. And if an evader is found out, there will be penalties and interest.

And Revenue have an uncanny knack of finding out these things.

mf
 
Thanks for the advice but just out of curiosity, how can the revenue track whether or not you have had a property outside of this country?
 
looselines said:
Thanks for the advice but just out of curiosity, how can the revenue track whether or not you have had a property outside of this country?
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Any number of ways. Random audit. Someone squeals on you.
Payback in a marital break up situation. Etc.,etc.,

mf
 
Revenue are currently going to estate agents to ask them who has bought property abroad as far as I know. You could in the future be asked to prove where you got the money to purchase from. Revenue could check your Irish account and trace the money coming from abroad etc
 
Interest is calculated from the day the liability is past due, so Revenue have all the time in the world to catch you.
 
Hi

AFAIK revenue can't check whether you've had a house abroad, but if you have sold abroad, and are using the proceeds to buy in Ireland you may be asked to prove where you got your hefty deposit from......

Our Solicitor asked if we were FTB, I said, yes here in Ireland, but not entirely FTB as we sold in UK last year. The truth, the whole truth etc etc

Betsy
 
Neighbours squealling on each other is a common way, alright. There were also a load of Form 12s sent out by the revenue last yer doing random audits on people. If they smell a rat they'll investigate it and then you're in for it.
 
True story, from my accountant:
One of his clients was undergoing a personal audit as well as a regular audit. All appeared clear. However, there was a purchase of a suite of furniture in Portugal on his credit card. There was no evidence of the suite of furniture being shipped from portugal to Ireland (where he lives) when revenue checked.
Hence discovery of property owned in Portugal (and not previously made known to irish revenue).
Easy enough to find these things out, if revenue want to look into your affairs.
Nicola
 
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