Stamp Duty Land Tax – Important Changes for Home Buyers

Stamp Duty Land Tax (SDLT) is paid on the purchase of property or land above a certain price in England and Northern Ireland. The amount you have to pay will depend whether or not the property is for residential purposes, and if you are a first-time buyer.

Previously, SDLT returns needed to be submitted within 30 days of completion, which is the date that ownership of the property changes.

However, from 1 March 2019, the window for submitting the return and making the payment has been reduced to 14 days. If you do not meet this deadline, then you may be charged a penalty by HMRC, together with interest.

If you are looking to purchase a property, and have any questions relating to SDLT, then contact us at Audley Chaucer.

Written by Syeda Anjum

Related News