UHY Ross Brooke Chartered Accountants

Beware the SDLT sharks

dont trust tax sharks
Phil Kinzett-Evans - Tax Director

It’s no surprise that, in light of relatively recent case law regarding the availability of significant tax savings in the form of non-residential rates of SDLT, and multiple dwellings relief claims, that there are sharks awaiting the unsuspecting.

By Phil Kinzett-Evans – Tax Director

I am referring to the practices of a substantial number of boutiques who fire off general mailshots to purchasers of UK property to advise them that they could be ‘owed’ a refund by HMRC, or could save tens of thousands in SDLT- typically based on something like: ‘if your purchased property has no kitchen’, or ‘your property has a low EPC rating’.

The truth of the matter is that these issues may be indicative of a larger problem which, with proper assessment, might enable a purchaser to compute their SDLT liability on a different basis, or claim a relief from SDLT which reduces their overall liability. But in the absence of a full, proper assessment of ALL the facts, these are not substantive enough alone to give rise to such savings or adjustments.

If you have received such a letter then there is no harm in carrying out a free, no-obligation review, if it is just that. But if you feel it is all too easy, sounds too good to be true and you would like a professional opinion from a regulated firm, then we would urge you to contact one of our experts.

It is a matter of professional ethics that a claim for tax relief should not be exaggerated, embellished, or misstated, and our teams would never knowingly assist in a claim they did not feel would stand up to scrutiny.

UHY Ross Brooke’s tax team, led by me, advises on Stamp Duty Land Tax matters locally and nationally.

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SDLT timeline

  • Property purchase is completed (“the effective date”)
  • Up to 14 days later: Purchaser/agent eg solicitor must file SDLT return and make payment
  • Up to 9 months after the filing date, or the date of subsequent amendment: HMRC can make an enquiry into the claim.
  • Overpayment relief can be claimed where SDLT has been paid incorrectly, for example, if the surcharge rate of SDLT was paid and this was not due then a claim can be made within 4 years of the effective date. This does not apply where a claim for relief was not made in a return, but applies where the SDLT was computed incorrectly on some other basis.

Fill in the form to see what we can reclaim for you, or find out more about stamp duty.

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