Eligibility for a Stamp Duty refund principally applies to the following:<\/p>\n
Therefore, if you currently fall into any of the categories, or will potentially fall into one, or are simply interested in the mechanics of a reclaim, please read on\u2026<\/p>\n
In the words of HMRC:<\/p>\n
“You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland.<\/p>\n
The tax is different if the property or land is in:<\/p>\n
You pay the tax when you:<\/p>\n
Interestingly, although now described as a\u00a0\u2019tax\u2019, when introduced in 1694 it was a fixed fee levied to cover the cost of the physical stamping of all \u2018official\u2019 documents, including land and property related. Then, in the 19th Century, the levy was changed to reflect the value of the transaction involved with the documentation and has, essentially, remained the same, albeit a further evolution was the introduction of the\u00a0\u2019 Stamp Duty Land Tax\u2019 (SLDT), specific to land and property. \u00a0In 2015 the SLDT was replaced in Scotland with \u2018Land and Buildings Transaction Tax\u2019 (LBTT) and, in 2018, it was replaced in Wales with\u00a0\u2018Land Transaction Tax\u2019 (LTT).<\/p>\n
\u200d<\/p>\n
Assuming you fall into eligibility criteria, there is a 12 month limit on the claim from the original SLDT filing date. \u00a0It may be possible to extend this in some circumstances, however, for the purposes of a straightforward claim, it is always best to adhere to the base deadlines. You will need the original paperwork concerning the transaction and then it is advisable to contact an expert, such as Taxeezy, to assist you in promoting the claim.\u00a0 Claims can be made online, or via post.<\/p>\n
\u200d<\/p>\n
If the\u00a0property has\u00a0initially been deemed as\u00a0\u2018uninhabitable’ and the full residential rate of SLDT has been paid it might be possible to obtain a refund on the basis that the non-residential rate should have been paid. The non-residential rate is considerably lower than the residential rate.<\/p>\n
It is important to note that MDR has now been discontinued, however still applicable when contracts were exchanged on or before 6th March 2024 and contracts completed before 1st June 2024.<\/p>\n
In its simplest form, the relief concerns where a single transaction relates to the purchase of two or more dwellings and the overall purchase price is split into lower values, per dwelling, potentially cancelling any higher rate of SLDT already paid on the gross transaction and claiming a refund.<\/p>\n
\u200d<\/p>\n
If you have been subject to a 3% surcharge for acquiring a second property and then decide to dispose of the original (main) residence within 3 years of acquisition you may be able to reclaim the surcharge. There is also a ‘special case\u2019 potential claim if you were unable to sell your original home within 3 years due to the impact of Covid or due to the action of a Local Authority.<\/p>\n
Non-UK Residents are subject to an effective 2% surcharge when purchasing their first UK property by virtue of not being able to benefit from the zero rate starting threshold. However, if they have been present in the UK for 183 days within a 365 day period prior to, or following, the transaction, they may be eligible for being taxed on the same basis as a UK resident, accordingly claiming a refund.<\/p>\n
The other bases of claim include:<\/p>\n
Clearly, being that the bases and circumstances are so widespread, this article can only summarise the possibilities and you will, almost certainly, need to take expert advice if you feel that you may be eligible. Such advice is readily available from Taxeezy, either within the process of undertaking one of our many services, such as Tax Returns (UK Resident and Non-Resident), CGT Reports and NRL registrations, or stand-alone using our comprehensive \u2019Taxeezy Doctor\u2019 service, which provides up to one hour of one-to-one advice within a very reasonable fee of \u00a399.00.<\/p>\n
\u2019Signing Up\u2019 to Taxeezy is completely free and without obligation and there are no fee surprises, as can often be encountered in the tax industry. We guarantee that you will know exactly where you stand and how much it will cost you before you engage any of our services. Indeed all of our fees are detailed on the outside of the website.<\/p>\n","protected":false},"excerpt":{"rendered":"
Could you be eligible? Eligibility for a Stamp Duty refund principally applies to the following: Uninhabitable properties Multiple properties Replacement […]<\/p>\n","protected":false},"author":1,"featured_media":1494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-guides"],"_links":{"self":[{"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/posts\/1493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/comments?post=1493"}],"version-history":[{"count":0,"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/posts\/1493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/media\/1494"}],"wp:attachment":[{"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/media?parent=1493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/categories?post=1493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thenextdigi.com\/moneywize\/wp-json\/wp\/v2\/tags?post=1493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}