stamp duty query

[highlights]

Stamp duty?

Boyfriend and I have just put a booking deposit down on a house (asking price €320, agreed sale price €280K) It's a new build and it's 1407sq ft. The estate agent we were dealing with said there was no stamp duty for owner occupiers but someone said as boyfriend in not a FTB we had to pay stamp duty. He is not selling his other house? Can anyone confirm?

Thanks

 

[huskerdu]

There is no stamp duty for new homes for second time buyers.

 

[truthseeker]

my understanding is that there is an exemption for a property with floor area under 1346 sq feet (125 sq metres) - so it would seem from your post that the property is NOT exempt as it exceeds this floor area.

You need to check this out with your estate agent.

 

[Stifster]

Will he have to pay stamp duty on the first house he bought?

A clawback arises if rent is obtained from the letting of the house or apartment within a period of 5 years from the date of the conveyance or transfer, other than under the rent-a-room scheme. The clawback amounts to the difference between the higher stamp duty rates and the duty paid and it becomes payable on the date that rent is first received from the property. A clawback will not arise where the property is sold to an unrelated third party during the 5-year period.

Over Floor Area of 125 sq. m
New houses or apartments which are purchased by an owner occupier where the total floor area exceeds 125 square metres are charged with duty, at the appropriate residential property rate as per the table above, on the site value (excluding VAT) or one quarter of the total value of the house including the site (excluding VAT), whichever is the greater, subject to clawback. The size of the floor area must be certified by a qualified architect, engineer or surveyor.

If anyone can actually decipher that...

 

[plant43]

Also if he is not selling his other house, there may be some further stamp duty/CGT implications.