Stamp Duty Land Tax
Stamp Duty Land Tax is paid by businesses and individuals involved in purchasing a property or land. SDLT is a self-assessment regime, where the purchaser of the property needs to file a “land transaction return” and pay the tax within 30 days of completion. While this is a relatively straightforward tax, there are certain situations in which it is more complex such as:
- transfers to a company where the transferee is deemed connected to the company
- mortgages, where a share of the mortgage is deemed to have been gifted to another person
- linked transactions, where two individuals independently involved in a transaction, are deemed to be connected to one another
Our property tax advisers can assist you in all matters related to SDLT and ensure that you do not fall into potential traps and risk substantial penalties.