Stamp Duty Land Tax Refund
Have you overpaid SDLT?
Everyone must pay Stamp Duty Land Tax (SDLT) on property transactions or non-residential land in England and Northern Ireland. The rules on SDLT have changed massively in the last few years, so it’s vital to seek professional advice for your stamp duty refund, even for the most straightforward of property and land purchase transactions.
Quick SDLT Refunds
If you have already completed your land and buildings transaction, you may be entitled to a Stamp Duty Land Tax Refund. Reclaiming SDLT can be complicated for both individuals and businesses, because of the various legislation surrounding the process.
Navigating the Stamp Duty Land Tax refund landscape is best done with the advice and help of a professional. Based in the West Midlands, CapEx Associates can help you claim SDLT for personal and business properties across the UK.
Why are you overpaying?
Overpaid stamp duty land tax is common for several reasons. The 2016 changes to stamp duty cover the majority of properties but very few professionals are aware of these and the public even less so. There are also some serious shortcomings in the HMRC SDLT tax calculator, which is designed to only serve as a ‘mere guide’. If you used the HMRC tax calculator during this period you may have overpaid tax and therefore be entitled to a SDLT refund.
You may be entitled to a Stamp Duty Land Tax repayment if certain SDLT exemptions weren't applied during the buying process.
How To Reclaim Stamp Duty Land Tax
Our team of SDLT advisors will investigate your purchases, as through no fault of your own, you may have overpaid and could claim an SDLT refund. There are several tax relief and exemptions available as well as the simple fact that the property itself could have been misclassified.
If you are in fact due a refund, we will then go through the process of reclaiming overpaid SDLT with HMRC. All the advice given is from a qualified Chartered Tax Advisor, so you have peace of mind that this is legitimately being inspected and your SDLT repayment is in safe hands.
Our fee then simply becomes payable from the amount of Stamp Duty Land Tax repayment that we claim back on your behalf.
If you are about to purchase a property, or have already done so in the past year, we'd love to hear from you!
Frequently Asked Questions
What is Stamp Duty Land Tax?
Stamp Duty Land Tax (SDLT) is a fee buyers need to pay whenever they buy land or property over a certain price threshold in England and Northern Ireland. The current SDLT threshold is £500,000 for residential properties and £150,000 for non-residential land/properties. Any purchases below these figures won’t be subject to Stamp Duty Land Tax.
How is SDLT calculated?
SDLT is calculated differently for residential and non-residential properties.
When is SDLT payable?
Freehold property purchases
New or existing leasehold purchases
Property purchases through Shared Ownership Schemes
Property or land transfers in exchange for payment
Am I eligible for a Stamp Duty Land Tax Exemption?
Is there a deadline for claiming SDLT refunds?
Yes, Stamp Duty Land Tax refund claims should be made within 12 months of the original filing date of the SDLT return (i.e. 14 days after completion of the original purchase). However, in certain cases, an SDLT refund claim can be made up to 4 years post sale.
How long does a Stamp Duty Land Tax refund take?
An SDLT refund is usually processed within a month or two, although this can sometimes be longer due to HMRC checks. If the HMRC open an investigation after issuing the refund and find that in fact you were not eligible or there was incorrect information provided, they will issue a closure notice requiring you to repay the money.