Stamp Duty

Specialists In Stamp Duty Land Tax

As specialists in this complex area we provide advice on Stamp Duty Land Tax (SDLT) to assist in determining the precise impact in respect of specific transactions, and to help in identifying any potential to reduce the exposure to the charge. Our specialist SDLT service provides you with expert advice according to your specific needs.

What Is Stamp Duty Land Tax?

Stamp Duty Land Tax (SDLT), referred to frequently as Stamp Duty, was introduced by the Finance Act 2003, and replaced the previous Stamp Duty regime for land transactions.

The new scheme is based on the previous, and applies to all transactions in land including long leasehold interests. Since its introduction in 2003 the tax has been subject to a number of revisions which have made it increasingly complex.

SDLT is charged as a percentage of the purchase price above a nil-rate band. The current percentages that apply to a land transaction differ, depending on whether or not it is entirely residential in nature.

Until 5 April 2011 the percentages applying to residential property and non-residential land and buildings were at the same rate, other than a slightly lower nil-rate band for the purchase of residential property. The residential property percentages since that date have been gradually increasing, whilst the non-residential land and buildings percentages have remained relatively static.

Stamp Duty

The purchase of a single residential property by an individual is relatively straightforward. The position is more complex if a purchaser has other property interests, there are extensive gardens or grounds, or for any number of non-residential buildings or plots of land.

If both residential property and non-residential land and buildings are involved this is known as a “mixed use acquisition” on which the non-residential percentages are applied.

The non-residential percentages also apply if there are separate contracts for the acquisition of residential property and non-residential land and buildings that are treated as one purchase by the linked transactions or if the purchase comprises six or more residential properties.

Exemption from SDLT is available for certain business re-organisations, provided the correct procedure is followed.

Areas Of Expertise

We provide a Stamp Duty review service to both private clients and other professional firms

  • Advice on proposed land and property purchases, land partitions, land exchanges.
  • Partnership and company re-organisations involving property ownership.
  • Negotiating with HMRC under the legislation and case law.
  • Assisting in obtaining refunds of SDLT where this has been overpaid.

Contact Us To Discuss Your Query

Our service is provided directly on an ad-hoc basis, with a no-obligation fee quote given upon the submission of a query

Our team of consultants is available to assist you, please feel free to email to start a conversation.