What is Stamp Duty Land Tax?

Stamp duty land tax (SDLT) is a form of tax that is paid on property purchases. It applies to all purchases made in England and Northern Ireland. Scotland and Wales have their own, similar, tax schemes (known as Land and Buildings Transaction Tax in Scotland and Land Transaction Tax in Wales)

SDLT is an extremely complex area of taxation. It has seen more changes since being introduced in 2003 than any other comparable tax and is now a minefield of exemptions, exceptions, special circumstances and reliefs.

Conveyancers are often not familiar with the wide range of different circumstances that can affect how much money you pay, including the many types of properties and buyers and the residential or commercial classifications that may apply. It doesn’t help that there are often conflicting messages from regulators, and the result is that many people end up paying too much SDLT on properties that include land and woodland, annexes or outbuildings.

We’re are experts in this ever-changing area and can help to ensure that you pay no more than you should and are able to claim refunds that you are owed.

How much is stamp duty LAND TAX?

The amount of SDLT you pay depends on the value of the property you are purchasing. SDLT is applied in value bands, as follows:

Up to £250,000 – 0%
£250,001-£925,000 – 5%
£925,001-£1.5 million – 10%
Over £1.5 million – 12%

*Surcharges applies for investors and overseas buyers

How it works and how to claim

With the recent changes in legislation many of our clients, be it private or commercial, simply aren’t aware that they could benefit from a significant reduction in the tax that was paid when they completed on their property purchase. We help home owners and commercial businesses to recover SDLT where mistakes have been made by conveyancers/agents whose goal is to ensure the sale completes. The reclaims often amount to many thousands of pounds, and the changes to SDLT that were made in early 2016 mean that many people haven’t benefitted from the reductions.

Once our team consider you have a suitable claim we will then put the report together and submit your application and manage any subsequent questions and discussion. Following a successful application we expect you to receive your refund in 6-8 weeks.

Is there a timeframe in which we need to apply?

You can claim 12 months from the filing date so for a property sale transaction dated 1st July 2022 you have until 1st July 2023 to claim.

Who can we Help?

Homeowners (UK Resident and non-UK resident)

If you’re a homebuyer, solicitor or agent and require pre or post-transactional advice then please contact us and one of our advisors will be delighted to help.

UK and Overseas Investors

When you’re trying to make money out of property, the last thing you want to risk is paying the wrong amount of tax or overpaying. The surcharge is just one of the many complexities which apply to the purchase of investment properties.

Commercial Property Developers

Whatever the size of the project, you could be looking at tens or even hundreds of thousands of pounds worth of savings.