Stamp duty - is Ireland completely separate?

kevinqq

Naturally stamp duty kicks in when you try and buy a 2nd home in the UK (if over £40k)

But does that apply to your 2nd home in southern Ireland?

Thanks

UncleTomCobley

These may help you https://www.gov.uk/stamp-duty-land-tax

https://www.citizensinformation.ie/en/housing/owning-a-home/buying-a-home/stamp-duty/

user1977

Even the home nations have different tax rules on this point, why would Ireland have the same taxes as anywhere in the UK? It's been an independent country for quite a while…

35har1old

https://forums.moneysavingexpert.com/discussion/6660334/stamp-duty-is-ireland-completely-separate

Stamp duty in Southern ireland I think is 1% upto 1 million euros.

You also need to apply for a PSNN number to pay

kevinqq

https://forums.moneysavingexpert.com/discussion/comment/81928780#Comment_81928780

1% is very low compared to buying a 2nd home in the uk.

kevinqq

https://forums.moneysavingexpert.com/discussion/comment/81928780#Comment_81928780

Buying a second home in the UK incurs standard Stamp Duty Land Tax (SDLT) plus an additional 5% surcharge on the entire purchase price.

How the Second Home Surcharge Works

When you purchase a second residential property—such as a buy-to-let, holiday home, or any property beyond your main residence—you are required to pay standard SDLT rates plus a 5% additional property surcharge across all price bands

So Ireland would only be 1%, but the uk would be 5% plus some surcharge?

Seems 2nd home in Ireland would be a bargain by comparison. interesting.

kevinqq

So if you were swithering whether to buy one in southern belfast and get hit with the UK stamp duty, or just move slightly further south and get one in Ireland, you should choose the Rep Ireland one?

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/81935739#Comment_81935739

Not a valid comparison.

Yes very lower Rep Ireland stamp duty at 1% but it needs to be with average house prices in the Republic hitting 370,000 Euros ( Dublin averages 600k).

Median house prices in N. Ireland far cheaper at £193k.

Differences reflects the Republic's vibrant and strong economy as a result of its strategic EU membership which has driven up property prices massively, compared to Northern Ireland's moribund economy and contracting private sector.

Even with the addition of UK 5% 2nd property stamp duty this adds just £9,600 to the average NI property, with the average cost of Republic property ( inclusive of stamp duty ) coming in at £120,000 more expensive at today's exchange rate.

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/comment/81935739#Comment_81935739

Choosing which country to live in is normally driven a lot more than simply what the taxes are going to be on the purchase price of a house.

user1977

The OP has a curious post history…

kevinqq

https://forums.moneysavingexpert.com/discussion/comment/81937280#Comment_81937280

Thanks very much. What caught your eye?