Stamp Duty rate on Holiday Home Purchase

[Roro999]

I am considering buying a holiday home. I have a PPR. Stamp duty is 7.5%. The cost of the house would be approx 140k and comes with contents. Can I agree with vendor what % is contents or is there a max allowed for contents ? In this case I would think 10% for contents would be about right. Who is it up to to determine the contents % in order to avoid stamp duty on that portion ?.

 

[PebbleBeach2020]

Why is stamp duty 7.5%? Isn't it 1%?

 

[Roro999]

I wish it was. My undetstanding is it is 7.5%. It's a holiday home in rural countryside. Funny but an EA told me 1% but a solicitor told me on a telephone enquiry it's 7.5%.

 

[Gordon Gekko]

I wish it was. My undetstanding is it is 7.5%. It's a holiday home in rural countryside. Funny but an EA told me 1% but a solicitor told me on a telephone enquiry it's 7.5%.

You must be in the UK?

 

[Roro999]

No I'm not in the UK.

 

[noproblem]

Stamp duty on property

Stamp duty is paid on the transfer of property

www.citizensinformation.ie

 

[Roro999]

So are you all saying if I as an Irish citizen purchase a second hand dwelling house from another Irish citizen as a holiday home I only pay 1% stamp duty and that a solicitor is wrong in saying it's 7.5% ?

 

[Gordon Gekko]

So are you all saying if I as an Irish citizen purchase a second hand dwelling house from another Irish citizen as a holiday home I only pay 1% stamp duty and that a solicitor is wrong in saying it's 7.5% ?

That’d be my read of it, yep.

Residential property is 1% up to €1m.

 

[arbitron]

I thought 7.5% was for commercial property?

 

[Roro999]

That's great news to my ears. I can do a lot with approx 9k that I thought was having to be paid in stamp duty.

 

[Roro999]

Perhaps the solicitor was thinking a holiday home would be classed as non residential and the fact that I already have as I said a PPR. I will double check with the solicitor as to why he thinks its 7.5% and post when I hear.

 

[Roro999]

Solicitor confirmed error. Thought there was a commercial aspect to it. Thanks for your help.

 

[noproblem]

So are you all saying if I as an Irish citizen purchase a second hand dwelling house from another Irish citizen as a holiday home I only pay 1% stamp duty and that a solicitor is wrong in saying it's 7.5% ?

Yes, I am.

 

[fidelcastro]

So are you all saying if I as an Irish citizen purchase a second hand dwelling house from another Irish citizen as a holiday home I only pay 1% stamp duty and that a solicitor is wrong in saying it's 7.5% ?

What's the irish citizenship got to do with it. If I was French would you expect I should pay higher rate

 

[presidenttttt]

What's the irish citizenship got to do with it. If I was French would you expect I should pay higher rate

There was actually a case in the EU courts recently where Portugal have different effective capital gains for non-residents. It was found to be illegal.

 

[Itchy]

What's the irish citizenship got to do with it. If I was French would you expect I should pay higher rate

Foreign buyers tax on property is not unheard of.

 

[fidelcastro]

What's the irish citizenship got to do with it. If I was French would you expect I should pay higher rate

Specifically, if I was French citizen, but irish tax resident

 

[fidelcastro]

There was actually a case in the EU courts recently where Portugal have different effective capital gains for non-residents. It was found to be illegal.

Thanks, that was exactly the case I had read about. References to "Irish citizen", is in my view totally misleading terminology