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STAMP DUTY INFORMATION
Stamp Duty In Ireland
Stamp duty in Ireland is a tax payable to the Government based on the documents used in the transfer of property. The amount of stamp duty payable is determined by the type, size & value of the property & the purchaser’s status (i.e. first-time buyer, investor, etc.).
Purchase
Price |
1st
Time Buyers
|
Full Rate |
€ |
|
|
€0
to €125,000 |
Exempt
|
Exempt |
€125,00
to €1,000,000 |
Exempt |
7% |
Over €1,000,000 |
Exempt |
9% |
| |
|
|
Note: Stamp These rates apply to all contracts executed on or after 5th December 2007 and to documents due to be presented for stamping no later than 5th December 2007.
Rates on land/housing sites without residential buildings
Purchase Price |
Rate of Stamp Duty |
€ |
|
Up to €10,000 |
Exempt |
€10,001 - €20,000 |
1% |
| €20,001 - €30,000 |
2% |
€30,001 - €40,000 |
3% |
€40,001 - €70,000 |
4% |
| €70,001 - €80,000 |
5% |
| €80,001 - €100,000 |
6% |
| €100,001 - €120,000 |
7% |
| €120,001 - €150,000 |
8% |
| Over €150,000 |
9% |
1st-time buyers
A first-time buyer is defined as a person (or where there is more than one buyer, each person):
• Who has not on any previous occasion, either individually or jointly, purchased or built on his/her own behalf a house in Ireland or abroad;
• Where the property purchased is occupied by the purchaser or a person on his/her behalf as his/her only or principal place of residence & Where no rent is derived from the property for 5 years after completion of the current purchase.*
*If the first-time buyer rents the house within 5 years Revenue will claim back or 'clawback' the difference between the higher stamp duty rates & the duty actually paid. The only exception to this is the 'Rent a Room' scheme where part of the house is rented out. If the house is sold within five years there is no clawback.
A divorced or separated person is considered a first-time buyer in the followiing circumstances:
• if they have left their former marital home &, do not retain any interest in the martial home &, their former spouse continues to occupy the home.
PRTB
What is the tenancy registration system?
It is a requirement on all landlords to register details of their tenancies within one month of their commencement on form PRTB1 available from this website. The information on the register will be used to provide aggregate data on the private rented sector. Personal details such as the tenant name, landlord name, rent, etc. will not be made public.
What dwellings are exempt from the tenancy registration system?
- Business premises, even where partly residential
- A dwelling to which Part II of the Housing (Private Rented Dwellings) Act 1982 applies (i.e. formerly rent controlled dwelling occupied by the “original tenant” or his/her spouse) or to which Part II of the Landlord and Tenant (Amendment) Act 1980 applies (i.e. long occupation equity lease tenancies)
- A dwelling let by a local authority or voluntary housing body
- A dwelling occupied under a shared ownership lease
- A holiday let
- A dwelling in which the landlord is also resident
- A dwelling in which the spouse, parent or child of the landlord is resident and there is no written lease or tenancy agreement
- A dwelling that is occupied rent free
- If a dwelling is available for renting but has not yet been let, there is no requirement to register.
What happens if I don't register?
Until such time as a tenancy has been entered onto the PRTB’s register of tenancies, the PRTB is precluded from dealing with any dispute relating to the tenancy that may be referred to it by the landlord. The registration requirement applies only to ongoing tenancies so it is important that the registration process be completed as quickly as possible in case any difficulties arise in relation to the tenancy.
What is the PRTB doing about unregistered landlords?
The steps being taken by the PRTB to pursue compliance with the registration requirement are in accordance with the provisions of the Residential Tenancies Act 2004 and, in particular, sections 144 and 145. They include the issue of notices to landlords and/or occupiers of the dwellings in question, and the prosecution of offenders for non-compliance with the registration requirement. Details of these notices are set out below.
- Landlord 1st Notice - section 144(2)
The steps being taken by the PRTB to pursue compliance with the registration requirement are in accordance with the provisions of the Residential Tenancies Act 2004 and, in particular, sections 144 and 145. They include the issue of notices to landlords and/or occupiers of the dwellings in question, and the prosecution of offenders for non-compliance with the registration requirement. Details of these notices are set out below.
- Landlord 2nd Notice - section 144(3)
Where the landlord fails to respond to the 1st notice, within the 14 day period or a response was received within the 14 day period which did not result in the PRTB changing their opinion on the registration requirement applying, a notice is served on the landlord stating that the landlord is required to register within 14 days and failure to register within this timeframe will result in the landlord being guilty of an offence under the Residential Tenancies Act 2004. - Occupier’s Notice - section 145(4)
Where the landlord’s name or address is not supplied, a notice is served on the occupiers requiring them to supply within 14 days any information in their possession that could lead to the PRTB ascertaining the identity of the landlord or of his/her address. That notice also states that failure to respond within the 14 days will result in the occupier being guilty of an offence under the Residential Tenancies Act.
What happens if a landlord or occupier does not comply with the PRTB's notices about not registering?
If the landlords and occupiers fail to comply with the provisions of the Residential Tenancies Act 2004 as outlined above, the PRTB will exercise the power open to it under the Act in relation to prosecutions. However this process may take time as in order to maximise success and effective enforcement, it is essential that the information available to the PRTB is accurate and that the PRTB operates in accordance with the appropriate procedures. This is because the successful conviction of the landlord or tenants of criminal offences under sections 144 or 145 respectively requires a high standard of proof and a correct name and address is vital to this process.
Are landlords eligible for tax relief on interest paid on borrowing to purchase investment properties?
Landlords should be aware that the Finance Acts have been amended to explicitly provide that compliance with the registration provisions contained in the Residential Tenancies Act registration provisions is a condition of eligibility for mortgage interest relief on residential properties. It is a matter for individuals to satisfy themselves that they are in compliance with the Residential Tenancies Act. The PRTB will not routinely provide letters confirming exemption from the Act. The PRTB propose to supply the Revenue Commissioners with information on unregistered tenancies of which it becomes aware so that, as well as facing criminal prosecution, the landlords in question will lose any mortgage interest relief relating to the dwelling.
The following link relates to the Revenue Commissioners' requirements with regard to the registration of tenancies:
http://www.revenue.ie/en/practitioner/ebrief/2007/tax-briefing.html
Why have I not received a letter from the PRTB acknowledging my application to register?
Confirmation letters are being issued to landlords and tenants in all registrations processed by the PRTB generally on a 2 weekly basis. However, the registration process can take upwards of 6 weeks depending on the volume of applications on hand at any given time.
What do I do with the confirmation letter?
Landlords and tenants must quote the registration number given in the letter in any future correspondence with the PRTB. In addition, landlords may use the confirmation letter as a receipt for payment of the registration fee, where appropriate. Landlords may be requested to provide this confirmation letter to the Revenue Commissioners when seeking mortgage interest relief on residential properties.
What do I do if my tenant leaves my rented property?
If your tenant(s) leaves the rented property then it is deemed to be the end of the tenancy. You will need to register with the PRTB the new tenancy within one month of the new tenants moving in. The tenancy registration form is downloadable from this website.
If at least one of the tenants remain in the rented property and the other tenants are replaced by new tenants, then this would be considered an update of the tenancy details. If there is a change of rent you are required to notify the PRTB and when doing so, you are required to advise of any other change of the tenancy details that have arisen in the interim - no fee is payable when providing an update of tenancy details. The tenancy registration form, which is downloadable from this website, can be used for this purpose also.
I lease my property to a management company who in turn rent out the property to individual tenants; I have no relationship with the tenants of the management company. Do I need to register?
In the above scenario there are two actual tenancies and they both need to be registered. Under the RTA, the landlord is legally obliged to register the tenancy where the dwelling is leased to the management company and the management company is legally obliged to register the tenancy with the individual tenant(s). Each tenancy will then have a unique RT number assigned to it. The above applies in all arrangements where the dwelling is sublet and is ultimately a residential dwelling other than for those dwellings excluded in Article 3 of the RTA (a list of excluded dwellings is provided above in this question.)
What happens if I change the Rent?
The landlord must inform the Board of a change in the rent payable in respect of a dwelling within one month of the change occurring.
What happens if one of the tenants moves out and is replaced by a new tenant?
Landlords should at the same time notify the Board of any other change to the registered tenancy details e.g. a replacement tenant. No fee is payable for informing the Board of these changes.
What is duration of the registration?
Once a tenancy is registered it remains a registered tenancy for as long as the tenancy remains in existence. Once the tenancy is terminated, any new tenancy created in respect of the dwelling must be registered with the Board.
Why am I being asked to Re-register my tenancy?
Under the provisions of Part 4 of the Act if the tenancy has not previously been terminated it will be deemed to be terminated when it has lasted 4 years and a new tenancy will then commence between the parties. This new tenancy must be registered with the Board and the registration fee paid.
What do I do if the dwelling ceases to be let?
If the dwelling ceases to be let, the Board should be notified so that the record can be removed from the register – no refund of the registration fee is payable in such circumstances.
Enforcement of registration requirements.
The registration of a tenancy is a legal requirement on the landlord. Landlords failing to register a tenancy may be guilty of an offence and upon conviction shall be liable for a fine of up to €3,000 and/or up to 6 months in prison, along with a daily fine of €250 for a continuing offence.
What is the published register?
The Board maintains a published register, which is available for public inspection at the Board’s office. However, the published register will not contain any information that could lead to the disclosure of the identity of the landlord or tenant(s) or the rent payable |
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BER Certification
A BER is similar to the energy label for a household electrical appliance like your fridge. The label has a scale of A-G. A-rated homes are the most energy efficient and G the least efficient.
From the 1st of January 2009 a BER certificate is compulsory for all homes being sold or rented. If you are buying or renting a new house or apartment now, you are entitled to a BER - so do ask the seller/landlord or their agent for it.
All new homes (even when not for sale) must have a BER certificate before they are occupied as detailed under S.I. 666 under http://www.environ.ie/en/Legislation/DevelopmentandHousing/BuildingStandards/
BER assessments performed on new dwellings will also help determine compliance to Part L of the Building Regulations. BERs will be carried out by specially trained BER assessors, registered by Sustainable Energy Ireland (SEI). A list of BER Assessors is available on the SEI website .
It is an offence for persons not registered with SEI as BER assessors to purport to carry out a BER assessment service for the purposes of the Regulations. To see what a Building Energy Rating Certificate looks like please click here .
Who needs a BER?
A seller must provide a BER to prospective buyers or tenants when a home is constructed, sold or rented under the following circumstances:
- New homes where planning permission was applied for on or after the 1st of January 2007;
- All homes for sale or rent on or after the 1st of January 2009.
All new homes (even when not for sale) must have a BER certificate before they are occupied as detailed under S.I. 666 under http://www.environ.ie/en/Legislation/DevelopmentandHousing/BuildingStandards/
BER assessments performed on new dwellings will also help determine compliance to Part L of the Building Regulations.
How Long will a BER Remain Valid?
A BER for a building will be valid for 10 years from the date of its being issued, unless there is a material change in the building in the meantime which could affect its energy performance – for example an extension to the building, a significant change to the building fabric or a change in the heating system or fuel used.
Therefore if a property which has received a BER is placed on the market within 10 years of that BER being issued, and the property has experienced no relevant alteration in the meantime, then that same BER may be used by the building owner for the purposes of meeting their obligations under the Regulations.
What are the BER Implementation Dates in Ireland?
The requirement to provide a BER is being introduced on a phased basis as follows:
New dwellings: The regulations apply to new dwellings for which planning permission was applied for on or after 1st January 2007. All new homes (even when not for sale) must have a BER certificate before they are occupied as detailed under S.I. 666 under http://www.environ.ie/en/Legislation/DevelopmentandHousing/BuildingStandards/ BER assessments performed on new dwellings will also help determine compliance to Part L of the Building Regulations.
New Non-Domestic Buildings: The regulations apply to new non-domestic buildings for which planning permission was applied for on or after 1st July 2008. Transitional BER exemptions will apply to new non-domestic buildings for which planning permission is applied on or before 30th June 2008 provided the new non-domestic buildings involved are substantially completed by 30th June 2010.
Existing Buildings: (dwellings and other buildings) when offered for sale or letting on or after 1st January 2009.
Large Public Service Buildings: A public body shall, in relation to a large building occupied by it on or after 1 January 2009, secure and display a BER certificate in a prominent place clearly visible to the public.
Irish Auctioneers & Valuers Institute
Ireland I.A.V.I.
The Irish Auctioneers & Valuers
Institute (I.A.V.I.)
This is a self-regulatory body for the property
profession. It has stringent entry and practice standards for
the protection of the public, as well as the profession. Strict
membership criteria ensure that individuals practice the highest
standards. All its members are bound by a code of professional
conduct as a condition of membership.
They must conform to the highest educational
standards and specialist training set out by the institute to
gain entry to the I.A.V.I. in the first place, and undergo continued
professional development training during the course of the membership.
There is a established public complaints procedure involving a
Disciplinary Committe and the I.A.V.I.'s record of action in the
case of substantiated complaints is second to none.
Members of the I.A.V.I.
The members of the I.A.V.I. have successfully
completed a Property Degree course & years of approved practical
experience, have passed all required subjects of the I.A.V.I./DIT
B Sc (Hons) in Property Studies and have appropriate practical
experience, hold a professional qualification recognised by the
I.A.V.I. and have appropriate practical experience.
Associate membership Associate members must
have passed the I.A.V.I. Residential and Land Agency Course.
The I.A.V.I. is dedicated to furthering
educational standards within the profession, thereby ensuring
that fully qualified professionals practice with the top level
of expertise and the highest standard of ethics demanded of the
I.A.V.I. members.
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DISCLAIMER
Arthur & Lees Auctioneers for themselves & for the vendor of any property whose agents they are given notice that (i) the particulars are set out as a proof for the guidance of intending purchasers, and do not constitute nor constitute part of an offer or contract. (ii) All descriptions, dimensions, references & necessary permissions for use & occupation & other details are given in good faith and are believed to be correct, but any intending purchaser or tenants should not rely on them as statements or representation of fact but satisfy themselves by inspection or otherwise as to the correctness of each item: (iii) No persons in the employment of Arthur & Lees Auctioneers Ltd has the authority to make or give any representation or warranty whatever in relation to any property.
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