Stamp duty land tax

The HMRC have now realised that Stamp Duty payments received are increasingly incorrect and have opened up a department to handle refund claims.

Property transaction tax is not simple, as it not only involves the price paid but also the properties current, past and future usage, ownership history, sellers and buyers positions and geographical location, and liabilities.

Increasingly this tax calculation is done in house without tax advice.

Our specialists research and experience has led us to conclude that up to 40% of property transactions may have led to the wrong Stamp Duty being paid.

How can a refund be requested? It can be done using a specialism to forensically review past property tax transactions to ensure that the correct stamp duty tax has been paid and advise if a reclaim is available.

If any entity has paid an incorrect amount to the revenue, then you have a right to ask for it back. This can be an individual, partnership, LLP, Limited Company, or PLC.
Why do I need a specialist? To reclaim an over-payment, it must be proven that the rate of duty paid was wrong and why.

To prove this, you need a deep understanding of property tax and reliefs available along with case and tax law. Most lawyers have a brief understanding but the specialist we work with lectures on this subject to lawyers. He also reviews and plans both UK and non-UK property owner’s property tax strategies.
How does it work? Our specialists would review the property transaction documentation and history to assess if the duty paid is correct. A brief analysis would be provided with showing any potential reclaim, along with and analysis of costs and benefits.

If the owner proceeds, then the specialist would then create a report about the case for the revenue and the reasons for asking for a refund for the client.

If the revenue agrees with the refund request they will usually promptly pay the refund and a percentage of this would be the specialists fee.
Want to know if you qualify? Get in touch and one of our experts will review your case.