HMRC Penalties
It is important to pay the correct amount of SDLT at the right time to avoid any penalties. Getting it wrong or deliberately underpaying SDLT can lead to hefty penalties. When could a penalty be charged? There are two main types of penalties for SDLT: What are the late filing and/or payment penalties? The SDLT […]
That’s Interesting…
Most Taxpayers and conveyancers will be aware of the fact that HMRC can charge penalties for an incorrect SDLT return or amendment resulting in a loss of tax, but what is often overlooked is that HMRC will also charge interest on any sums of underpaid tax from the date the tax was due until the […]
Uninhabitable or in need of repair?
An area rife with misleading advice and false claims is that of uninhabitable properties and it is an area that HMRC are intent on cracking down on. HMRC’s own guidance states that: “A very high proportion of the SDLT repayment claims that HMRC receives in relation to this area are wrong. Customers should be cautious […]
Costly penalties await failure to apply correct rates of SDLT – Warning
Article posted in Todays conveyancer. Click here to see full article
Mixed Use – Why is it important?
A mixed use property will be taxed at the non-residential rate of SDLT which can result in huge savings and if the purchaser is a higher rate taxpayer those savings could be in the hundreds of thousands! What is a mixed use property? A mixed use property is a property which consists of both residential […]
What is a First Tier Tax Tribunal?
A tax tribunal functions like a court, it hears both sides of an argument before making a ruling. Tax tribunals are independent entities and are not controlled by HMRC. How do I start an appeal at the First-Tier Tax Tribunal? You must submit the appeal using an online form. You will also need a scan […]
Another Tribunal Win for Relatus
Nicole Behenna-Renton v HMRC TC/2024/01660 Date of Decision: 3 April 2025 This was a comprehensive win in an appeal about whether Multiple Dwelling Relief (MDR) applied to the Taxpayer’s purchase of a residential property which had an annex separated from the main dwelling by an internal door. The FTT considered the evidence provided by the […]
SDLT – Knowledge Check
The SDLT return and payment is an extremely important element of a property transaction and there are a number of common errors we see that could be avoided. First Time Buyers Relief A purchaser inherited a share in a property but never lived in it so will FTBR will be available? No – to qualify […]
SDLT – Newbuild Incentives
SDLT is payable on a new build property in the same way as any residential property but there are some additional considerations which could reduce a purchaser’s SDLT. Developer Incentives Many developers will offer a potential purchaser of a new build property one or more incentives to make the property more attractive and they will […]
Some SDLT considerations for conveyancers
Now that the most recent SDLT rush is over we are sure that many conveyancers would be happy never to hear or talk about SDLT again, but SDLT is something which should always be given very careful consideration as the potential repercussions if the SDLT treatment is wrong can be costly for your client and […]
