We are a leading RICS regulated company helping eligible property owners achieve Stamp Duty Land Tax refunds.
The legislation governing Stamp Duty Land Tax (SDLT) is complicated and often misunderstood. As a result, you may have paid too much SDLT when you bought your property. Examples where this may have happened include:
- paying for chattels (contents) when SDLT should only be paid on land and buildings,
- not claiming Multiple Dwellings Relief when your property has a second independent dwelling such as a cottage or annex, and
- paying the residential rate of SDLT when your property could be classed as mixed use.
Residential and commercial properties have different rates for Stamp Duty Land Tax (SDLT) with “non-residential” rates being lower. As a result, Government legislation provides the opportunity for the biggest potential SDLT savings where a “Mixed-Use” property has been bought.
An example of a mixed-use property could be a farm house with garden and agricultural land (the non-residential element). If the property cost a total of £1.5 million, and SDLT had been paid at the full residential rate, you could be due a refund of over £29,000.
There is a limited time period within which a claim for repayment can be made, usually a maximum 12.5 months from the date you completed your purchase, so it is important that the process is started at the earliest opportunity.
To find out more about SDLT refunds, please call our dedicated line on 01285 707797 and we would be delighted to discuss the opportunity further.