Stamp duty exemption

Regarding texemption from stamp duty for a first time buyer, when they say first time buyer, do they mean first time buyer in Ireland?
Would the fact that a person once lived adn owned a house in England mean that they would not be classed as first time buyers?

"Would the fact that a person once lived adn owned a house in England mean that they would not be classed as first time buyers?"

It would mean that they would not be classed as first time buyers. Why? Because First Time Buyer means just what it says. A person who had bought and owned a house in England and then came to Ireland would not be a First Time Buyer. Only a person who has not ever bought /owned ( some very limited exceptions) a house will be a FTB.

mf

Are you sure about this?

i thinkmfi may not be correct. this is an old chestnut and the act s92b 1999 says if you owned a house abroad you are nnot a first time buyer.

WHich act?

section 92B stamp duties consolidation act 1999. please refer to revenue website..first time buyer definition

Thanks for that,

dewdrop said:

section 92B stamp duties consolidation act 1999. please refer to revenue website..first time buyer definition

Click to expand...

You mean this? That says nothing about FTBs. I'm in agreement with mf1 on this one - you are not a FTB for SD purposes (although you may be for owner occupier mortgage interest tax relief purposes) if you previously owned (bought?) a property anywhere in the world other than through inheritance.

mf1 (a solicitor to the best of my knowledge) is correct. However, the OP said that they owned a house in the UK. The exemption does not apply where someone has bought or built a house previously. So if the property was an inheritance or a gift, they would (appear to me) to still be a FTB for stamp duty purposes in Ireland.

Here is the [broken link removed].

To be exempt from SD on a house bought about two years ago you had to be either a first time buyer, the house had to be less than 125m2, and I believe there was a third condition something to do with a new house and the price of the land or something? Can anybody remind me what the third option was?

How does this post relate to your original query? If you are somebody who bought or are planning to by a property here and previously owned a property in Ireland or abroad which was not inherited (or gifted?) then you are not a FTB for the purposes of the property purchase here in Ireland.

All owner occupiers (FTB or not) were/are exempt from SD on new builds under 125sqm.

Over 125sqm the SD is calculated on (from memory so this may not be 100% accurate) the chargeable consideration which is the higher of the site cost or the ex-VAT building costs.

Today FTBs of second hand properties are exempt from SD if I'm not mistaken. Two years ago there was a specific exemption threshold.

Non FTB buyers if second hand properties are subject to SD and the rates were different two years ago compared to now.