Do you plan on selling your home anytime between now and 2025? If you do, there’s something you can take the time to do now that will make life a lot easier for you when the time comes to sell up.
Here’s the science bit:- The Non Principal Private Residence (NPPR) tax was an annual tax of €200.00 paid to local authorities in respect of properties which weren’t the main family home (or principal private residence) of the owner. This tax was for such people as the owners of holiday homes & landlords of residential properties. The tax began in July 2009 and continued until March 2013 when the Local Property Tax was introduced.
So, I hear you ask, what has this to do with me? I’m going to sell my family home & I didn’t have to pay NPPR tax on this house. Well, this is an issue for you because NPPR tax attaches to the property itself rather than the individual who owed the tax and it remains that way until 12 years after the tax was last due (i.e 2025). As a result, the purchaser of your house will have to be satisfied that there is no outstanding NPPR tax (the penalties are huge up to a maximum of €7,230) before the sale of the house is completed. The only acceptable proof regarding the NPPR situation is a certificate from the Local Authority.
How do I get a Certificate from my Local Authority?
In order to get a certificate from the Local Authority confirming that you do not owe NPPR tax on your property you must sign a declaration and attach two separate proofs of address to show your home was your principal residence in July 2009 and again in March, 2013. This can be harder than it sounds. Many clients of ours have shredded and disposed of original documents from 2009 and 2013 and it is quite an inconvenience to chase up on getting duplicate documents issued from utility providers and banks. At a time when you are selling your home and trying to move house it is a hassle most people could do without. Just imagine how much more difficult that task will be by 2025 as you try to get acceptable documents together to prove your situation to the Local Authority so they will issue the certificate you need to sell your home?
Why not help your future self by getting this job done now & obtaining your Certificate of Exemption to keep with your title documents for use whenever it is needed? Then when the time comes for selling your home you will have one of the essential documents already to hand and will avoid unnecessary hassle & stress when selling.
This is only one of the many issues that we resolve for our clients on a daily basis.
If you are considering selling your house, please contact us for more information on 021/4897256 or email us at email@example.com.