Stamp duty on 2nd home

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Question for yiz..son is intending on buying a second home, renting out the first and moving into the new buy. The new buy is a 5 bedroom newly built house for over E500. Estate agent told him that he would have to pay stamp duty on the new house if he DIDNT sell his first house but that if he sold the first house there would be NO stamp duty to pay whatsoever? Is this correct?
Thanks
 
It may be true what the auctioneeer said, depending on the size of the house.
there is an exemption for new house below a specific size.
 
I don't see any reason why getting rid of the first property rather than holding it as an investment property would have any impact on the stamp duty issues relating to the second property. If the second house is for owner occupation then apply regardless of whether or not the first property is retained or sold as far as I know. Don't forget that if the first property is rented out within five years of purchase as an owner occupied principal private residence then a clawback of stamp duty will apply to that property too. I would not depend on somebody with a vested interest in selling me something for independent, objective or reliable advice on matters of tax etc. relating to the purchase.
 
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