stamp Duty Query

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rebelroy

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Hi - I recently bought an apartment for 320k. I already own a house in Dublin and have lived in it for the past 3 years. I have a couple of questions regarding Stamp Duty Liability. The apartment is going to become my PPR and I'm going to rent out my house.

On the House - I know I'm liable for Stamp Duty Clawback on the house. I paid 3.75% stamp when I bought it as a FTB so I'm assuming I need to pay the difference of 5% and 3.75% on the original price now that it is becoming an investment property.

On the apartment - Not liable for stamp on the apartment but if I was to move again in say a years time and rent out the apartment can I still deduct the Developers VAT from the 320k when calculating the stamp.

Any help/advice would be appreciated.
 
rebelroy said:
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On the apartment - if I was to move again in say a years time and rent out the apartment can I still deduct the Developers VAT from the 320k when calculating the stamp.
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I reckon you can-Stamp duty payable should be calculated on the price you paid minus VAT at 13.5% -ie. as you would have been the case at the time if you bought it as investment property there and then.
That said -you need to ask an accountant or the Revenue to make certain.
 
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