SDLT need not be taxing

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Purchasing property is a complex area and normally one of the largest transactions you will undertake. If the property is complex and involves more than one dwelling or has mixed use, then the purchase becomes even more complicated.

One area you may wonder about is Stamp Duty Land Tax (SDLT). You know it is payable, but you may be unsure just what the process involves. And the amount for which you are liable need not be the only issue that gets you thinking. The type of property and its use will also affect the rate of stamp duty. Most people rely on their solicitor to tell them the amount of SDLT to pay but do not realises the solicitor, who is unlikely to be an expert in this area, isn’t advising on SDLT and may not even be aware of many of the reliefs that are available.

At Milsted Langdon we know that not every transaction is the same and, as a result, the total value on which you pay SDLT – known as ‘the consideration’ – will vary. For instance, sometimes the price paid for property or land will involve another sort of payment like goods or services. We can help work out ‘the consideration’ when situations are far from straightforward. In short, we deal with the procedure and calculations so you don’t have to.

Another area of SDLT in which our experts can help is identifying opportunities to obtain substantial refunds, by reviewing transactions that involve:

  • Manors
  • Mixed commercial and residential properties. For example, a farm with a farmhouse
  • Multiple houses on one site. For example, a house with a cottage or cottages, or someone buying several properties from a developer at once
  • Houses split for multiple use

Please tell us about the property you have bought within the last 12 months and we will undertake a free review to establish if you have paid the correct amount of SDLT.