SDLT Stamp Duty Land Tax Advice

There are few circumstances or reliefs where people can examine that they have overpaid Stamp Duty Land Tax. These are the SDLT reliefs:

• granny annexe,
• property with land attached,
• property that includes commercial activity,
• income from the land like rents, certain wayleaves, licence fees etc.
• Any interest over the land.

An SDLT expert can guide you well in claiming it back.

These are the scenarios where you will have to pay a 3% additional SDLT surcharge:

• 3% SDLT surcharge on additional properties for £40,000 or more, whether a holiday home, a buy-to-let etc.
• If you have any share in another property worth £40,000 or more.
• If you have shares in any property in the world and are buying your first home in the UK.

A refund claim can be made up to 12 months after the date you have filled the original SDLT return, i.e. 14 days after the completion of the original purchase.

These are the Stamp duty land tax (SDLT) rates for single residential properties

• Up to £250,000, there will be Zero
• From £250,001 to £925,000, there will be a 5%
• From £925,001 to £1.5 million, there will be a 10%
• Above £1.5 million, there will be a 12%

A 3% surcharge over this will be charged if you own another residential property. Yes, you can get an SDLT refund with some reliefs available

SDLT for residential properties applies to over £250,000.

• Up to £250,000, there will be zero
• From £250,001 to £925,000, there will be a 5%
• From £925,001 to £1.5 million, there will be a 10%
• Above £1.5 million, there will be a 12%

For stamp duty registration fee, visit this gov site: https://www.gov.uk/guidance/hm-land-registry-registration-services-fees

In this case, if you are a tenant of a commercial property. You need to calculate SDLT payable amount and pay it on time. There will be no responsibility of landlords for SDLT. To understand it clearly, hiring an SDLT specialist or accountant is recommended to check whether you are liable to pay tax.

Yes, the cost represented by Stamp Duty Land Tax can be treated as a capital expense for accounting purposes.

No, you can't pay stamp duty in instalments

Yes, In the case of multiple dwellings, you will not have to pay below a certain amount, but you will have to pay above a specific price. You can also check Multiple Dwelling Relief to avail other benefits.

There are no circumstances that allow you to add Stamp duty to your mortgage. But you can have some other options instead.

No, you don't need to pay stamp duty as a seller. Only buyers of the house or property need to pay.

Technically yes, you will have to pay the 3% SDLT surcharge, but there can be some situations where you can get relief, and an expert can introduce you to the best possible solution.

There are a few circumstances where you overpaid Stamp Duty Land Tax, but later on, you can claim back.