Stamp Duty Land Tax (‘SDLT’) Advice and Support

SDLT was first introduced in 2003 and the rules have become increasingly complex, particularly since the introduction from April 2016 of the 3% surcharge on certain residential property transactions.

Yet more complexity has been introduced from 1 April 2021, when an additional 2% SDLT surcharge will apply to the purchase of residential properties in England and Northern Ireland by a non-UK resident purchaser.

The highest rate of SDLT is currently 15%, increasing to 17% from 1 April 2021, and HMRC’s published report for the 2019-20 tax year show that SDLT (£11.4bn) and Stamp Duty (£3.9bn) together raised more revenue than capital gains tax (£10bn) and inheritance tax (£5.1bn) combined!

Whilst SDLT matters have historically been dealt with by Solicitors rather than tax accountants, due to its complexity many conveyancing solicitors are now unable to give SDLT advice with regard to property transactions. Our specialist team provide ongoing support to a large number of conveyancing Solicitors and their clients.

Our SDLT team can assist with such matters as:

• Additional rate queries (application of the 3% and 15% higher rates etc.)
• Residential v mixed use treatment
• Multiple Dwellings Relief
• Transfers into/out of partnerships
• Sub-sale relief/transfer of rights
• Sale and lease back
• Corporate restructuring (including group relief)
• Application of ‘linked transactions’ and anti-avoidance provisions
• Annual Tax on Enveloped Dwellings (‘ATED’)

We can also provide advice as to how to mitigate potential SDLT liabilities and claim appropriate reliefs, recover overpaid SDLT from HMRC, ensure that compliance obligations are met and assist in dealing with any HMRC enquiries.

Get in touch with one of our specialist advisors to see how we can help your business.