Stamp Duty Land Tax is a tax that you pay when you purchase a home, a second home or a buy to let property in your name or a limited company. People need to be aware the Stamp Duty is paid to HMRC via the conveyance solicitors within 14 days. There are different rates of stamp duty that is paid plus a 2% foreign surcharge for foreign investors and a 3% high rate for second properties. Stamp duty may be overpaid to HMRC due to errors from solicitors. These overpayments may be reclaimed from HMRC. The reason for the overpayment is because you may have purchased a dilapidated property, a mixed-use property where multiple dwellings relief may have been claimed (MDR). A SDLT refund may be obtained from HMRC within 24 months.

October 26, 2022

Stamp Duty Land Tax is a tax that you pay when you purchase a home, a second home or a buy to let property in your name or a limited company. People need to be aware the Stamp Duty is paid to HMRC via the conveyance solicitors within 14 days. There are different rates of stamp duty that is paid plus a 2% foreign surcharge for foreign investors and a 3% high rate for second properties. Stamp duty may be overpaid to HMRC due to errors from solicitors. These overpayments may be reclaimed from HMRC. The reason for the overpayment is because you may have purchased a dilapidated property, a mixed-use property where multiple dwellings relief may have been claimed (MDR). A SDLT refund may be obtained from HMRC within 24 months.

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