Stamp Duty Claw Back Question

A

ACCK01

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[FONT=Times New (W1)]I put a deposit on a property (new build – off the plans) in Jan 2003 and signed the contract with the builders. Paid the full amount in Jan 2004 on completion and moved in in Feb 2004. My question is this; when can I rent the property without being liable for the investor stamp duty claw back? Five years from putting down the deposit (Jan 2008) or five years from when I paid the full price for it (Jan 2009). Bearing in mind that once I had paid the deposit (Jan 2003) and signed the contracts that I could not back out of the agreement as contacts were signed.[/FONT]
[FONT=Times New (W1)]Any advice would be appreciated.[/FONT]
 
5 years from date satamp duty would usually be payable which would be the completion date ie Jan 04. so clawback if rented before Jan 09
stamp duty is not payable at the deposit stage
 
Thanks for the information - I had a feeling that was the way it worked but just wanted confirmation.
 
fyi most people dont bother paying the clawback and revenue never check you could get away with not paying it.....its just a risk to take
 
But presumably when you rent it out and fill out the relevant forms for the Revenue, and the PRTB in order to claim relevant reliefs, then a simple cross check will reveal that your rental property and your principal private residence are one and the same. While Revenue may not be checking this at the moment, it seems that it would be easy for them to do. All it would take is one scandal or a simple investigation by the opposition to force them into action.

And as we have seen with the Bogus, Offshore and Life assurance Policy enquiries, its not a matter of if your caught but rather when! Is it worth the risk of interest, penalties and the threat of publication as a tax dodger?
 
bazermc said:
fyi most people dont bother paying the clawback and revenue never check you could get away with not paying it.....its just a risk to take
Click to expand...
Not sure if this is simply an observation or a recommendation but please note that posts condoning or encouraging tax evasion will be deleted and the posters banned.
 
simply an observation clubman would never encourage tax evasion.......just know people who wouldnt bother paying the stamp duty clawback and seem to get away with it.......welcome to modern ireland
 
I know for a fact that Revenue will be clamping down on landlords regarding stamp duty etc in the coming months-year, so I just wanted to be sure what the claw 5-year rule was.
 
I assume you are aware that the stamp duty clawback does not apply under the rent a room scheme
 
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