Stamp Duty Land Tax
At Cannon Chambers, we provide guidance in the complexities of UK property law, and representation in HMRC investigations and legal challenges.
At Cannon Chambers, we offer a wealth of expertise in the complex legalities, exemptions and mitigating circumstances of Stamp Duty Land Tax.
Cannon Chambers services include: SDLT guidance on liability in complex property transactions and the availability of SDLT exemptions and reliefs, legitimately reducing SDLT liability where possible, managing HMRC enquiries and investigations and representing clients in SDLT appeals before tribunals and in court.
SDLT Exemptions – Multiple Dwellings Relief
Additional residential properties usually incur an increased rate of SDLT. However, Multiple Dwellings Relief may be available if an annexe or outbuildings are involved.
At Cannon Chambers we will advise on eligibility for Multiple Dwellings Relief, enabling a conveyancer to complete the SDLT return with the claim to the reduced amount of SDLT at the time of the purchase.
Claiming an SDLT refund after a purchase is also possible. For any property purchases that turn out to have been eligible for Multiple Dwelling Relief, we can make a refund claim to HMRC on a client’s behalf.
Find out more about SDLT relief with this guide to multiple dwelling relief.
Mixed-Use and Non-Residential Properties
If a property is deemed ‘mixed-use residential and non-residential’ or ‘non-residential’, it qualifies for lower rates of SDLT – potentially representing huge savings, although not always.
HMRC is increasingly resisting these claims, so it is very important to get expert and experienced advice from us at Cannon Chambers, when you are considering a mixed-use or non-residential purchase, or when you are planning to make an SDLT refund claim.
You can read Patrick Cannon’s review of HMRC’s SDLT guidance published here.
Reclaiming Stamp Duty
At Cannon Chambers, we offer legal services in cases of reclaiming stamp duty – whether it’s making a refund claim or pursuing an adviser for negligence.
Unscrupulous claims advice shops often contact clients, claiming that they have missed out on SDLT savings at the time of a property purchase. These firms offer to reclaim the difference from HMRC or make a claim against the conveyancer for negligence – in return for a cut of the savings achieved.
In such cases we at Cannon Chambers can provide an objective review of each SDLT reclaim case, providing clients with confidence that they either have a legitimate case or they do not, managing all correspondence with HMRC, and ensuring that they have proper representation if pursuing conveyancers for negligence.
We normally provide a fixed-fee legal service, rather than working for a cut of the savings on a ‘no-win, no-fee’ basis.
How Cannon Chambers Can Help
For tax advice and representation in a Stamp Duty Land Tax case with one of the UK’s leading specialist Stamp Duty Land Tax advisers, please contact Cannon Chambers here.
At Cannon Chambers, we are authorised by the Bar Standards Board to accept Direct Access work and to undertake litigation, which means that we can advise clients directly and deal directly with HMRC and manage court and tribunal proceedings on their behalf.
Other SDLT Areas Cannon Chambers Advises On:
Frequently Asked Questions
These vary from 0% to 17% and depend on such factors as the price, whether the land is residential or non-residential, whether the purchaser is an individual or a company or a non-resident person.
This is £40,000 for reporting purposes, £125,000 as of the nil-rate slice for residential property and £150,000 for mixed-use or non-residential property (subject to the temporary £500,000 threshold for the residential property until 30 June 2021 and £250,000 until 30 September 2021).
Any acquisition of a “chargeable interest” in land in England and Northern Ireland such as a freehold or leasehold interest and many other rights in or over land apart from exempt interests such as licences and security interests.
No, unless the price is at or below one of the thresholds above or the property is so derelict that it does not count as a dwelling or it is acquired as a gift and there is no mortgage debt assumed with it.
Read more about stamp duty on second homes here.
Yes, and you will normally have to pay the 3% higher rates for additional dwellings if you own any other dwelling.
Yes, you can claim a refund of SDLT within 12 months of the filing date of your return if you failed to claim a relief that was due or made a mistake and overpaid.
Usually 12 months but up to 4 years in certain very restricted circumstances. You can also claim back the SDLT you paid if you substantially performed a contract and it subsequently gets cancelled.
Yes, basically 12 months from the filing date for the original return but 4 years in certain very restricted cases.