Stamp Duty - need to try and pass assets by delivery

1

11.11.18

Registered User
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36
I need to try and avoid my stamp duty liability. I am thinking about trying to buy some of the assets that come with the house such as carpets etc separately and thereby avoid stamp duty on them.

If i can transfer some of the internal appliances that are coming with the house in the hope that the nearest stamp duty threshold need not be crossed then i can seriously reduce my potential liability to stamp duty. does anyone have any ideas on the matter??
 
It is not tax evasion by any means, its good planning. The poster knows a bit about what they are talking about considering they used the words "passing by delivery" however it will not change your stamp duty threshold only the actual amount that the stamp duty is payable on. The stamp duty rate is determained by the full consideration including the value of the contents.
 
Sarah,

With all due respects, your assessment of my request as one which constitutes Tax Evasion is both insulting and inaccurate. My request concerns a vaild, legally acceptable means of managing one's tax liabilities.

Your comment on the matter only serves to further obscure the waters on what should be a relatively straightforward matter.

In future, may I advise you to hold your counsel and refrain from advising on matters you clearly are very unfamiliar with.
 
Kitty Kat said:
It is not tax evasion by any means..... however it will not change your stamp duty threshold only the actual amount that the stamp duty is payable on. The stamp duty rate is determained by the full consideration including the value of the contents.
Click to expand...

I therefore still pay stamp duty on say €100 even if €10 of the €100 relates to carpets and curtains and wahing machines???

Are you certain?? What if I simply pay for them separately???

I have seen it referred to on the Revenue website.....

please elaborate and thank you for your time kitty kat
 
Kitty Kat is right, the relevant booklet from revenue.ie on Stamp Duty clearly
states that doing what you are suggesting, does not move you to the lower
stamp duty bracket.
 
The previous posters are correct. You pay Stamp Duty at a rate based on the total value of the purchase. You can then deduct the contents value, and the Stamp Duty rate is applied to the remaining value.
 
ok lemme know if im with u
the relevant threshold amount is calculated by reference to the sum i am about to pay in total......the contents factor is then deducted from this amount but the SAME (ie initial) rate is applied to the balance????
 
You can very easily find the relevant information, on www.revenue.ie. there is a list of booklets on various different tax topics.

I do not have time to find it and link to it, but it is very easy to find yourself.
 
i just bought a house (FTB)
purchase price €325,000
value of contents included being left in the house €2,500
clause was written into contract stating value of contents
therefore i only pay stamp duty on €322,500
unfortunately the contents weren't worth enough to bring me below the stamp duty threshold - €317,500.

you should contact your solicitor and talk to him/her about it.
 

so do u know eimear...if the contents were worth enough could you have paid the lower threshold amount??????
 
yeah, if your house purchase price was 325,000 and the contents were valued at 7,500 - you would not pay stamp duty.

we had to get the estate agent to value the contents, they then wrote to our solicitor who then put the special condition into the contract.
 
crikey!!

are you sure??? then does that mean that the other posters above are incorrect??
 
well maybe i'm wrong...but that's how i see it!! (and I work in a solicitors office although I'm not a solicitor!)
 
No, eimer25, you're wrong.

If house + contents = €325,000, with contents being say €8,000 of that, you will have to pay stamp duty on the rate that pertains to €325,000. However the amount of stamp duty payable will be calculated solely with reference to the cost of the house.

I.E. House €317,000
Contents €8,000
Total consideration €325,000.

If you're a first time buyer of a second hand house (for example sake) you'll have to pay stamp duty at 3% but only on the value of the house.

Really, its not complicated and is on the Revenue website. Also your solicitor could explain it to you.
 
ok, thanks sherman
in my case i was a first time buyer of a second hand house so that was what applied to me.
thanks for clearing it up
 
Unfortunately it is one of those areas where many believe that by applying a certain value to the contents will result in bringing the value into another band for stamp duty but its not the case, more's the pity!!
 
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