Stamp Duty Land Tax

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, if you have bought a property with a separate annex, land and or outbuildings, you may have paid a higher level of SDLT than you should.

Multiple Dwellings Relief

Over recent years, the Government has made major changes to the Stamp Duty Land Tax (SDLT) system. If you have purchased a property within the last twelve months which contains a separate dwelling (annex), but you paid SDLT on the full purchase price, you may be entitled to a refund. Typically, on a house costing £500,000, you may have overpaid £10,000 in SDLT.

Mixed-Use Property

Residential and commercial properties have different rates for Stamp Duty Land Tax (SDLT) with “non-residential” rates being lower. As a result, recent 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.

Timings

There is a limited time period within which a claim for repayment can be made, usually a maximum 13 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.