If you have paid Stamp Duty on a property purchase, you might be eligible for a refund. The rules are complicated, so we asked the experts from Stamp Duty Claims to explain
What is Stamp Duty and who is liable for it?
Stamp Duty is a tax paid by homebuyers purchasing property or land over a certain value in the UK. The amount paid is based on the purchase price and is paid to HM Revenue & Customs (HMRC) typically within 14 days of the completion of the purchase.
Who might be eligible for a refund?
If you have paid Stamp Duty in the last four years, you might be eligible for a refund if you qualify for certain exemptions or reliefs, such as buying an additional uninhabitable property. Other factors that can impact your eligibility for a refund include properties with multiple dwellings and mixed use.
How likely is a refund claim to be successful?
The success of a refund claim depends on several factors, including the accuracy of the claim and the supporting evidence provided. With a reputable service provider, such as Stamp Duty Claims, the chances of a successful refund claim are significantly higher. Our team of experts will ensure that your claim is submitted correctly, maximizing your chances of a successful outcome.
What is the usual legal basis of refund claims?
Refund claims are usually based on exemptions or reliefs available, such as uninhabitable properties, multiple dwellings relief and probate. These claims are made under Section 55A of the Finance Act 2003.
How much might I receive in a refund?
The amount of a Stamp Duty refund varies depending on various factors, including the value of the property, the amount of SDLT paid, and the eligibility criteria for the refund. The refund could be significant, ranging from hundreds to thousands of pounds.
How can Stamp Duty Claims help me to prepare a claim?
Stamp Duty Claims offers a comprehensive service to help clients prepare and submit their refund claims. Our team of experts will work closely with you to gather the necessary information and documentation to ensure that your claim is accurate and complete, minimising the risk of rejection or delay.
What do Stamp Duty Claims do and how long does a claim take?
At Stamp Duty Claims, we take pride in delivering a fast and efficient service to our clients. The time taken to process a claim can vary, but we aim to complete most claims within 12 weeks, from the submission of the claim to receipt of the refund.
What does the service cost me?
Our fees are based on a no-win, no-fee basis. If we do not succeed in obtaining a refund, you will not be charged any fees. We charge a fee of 30% (+VAT) of the successful refunded amount.
Will I lose anything if my claim is unsuccessful?
If your claim is unsuccessful, you will not lose anything. You will not be charged any fees by Stamp Duty Claims, and there will be no adverse impact on your existing tax position.
Where can I find out more about Stamp Duty Claims?
For more information about Stamp Duty Claims and how we can help you with your refund claim, visit our website https://www.stampdutyclaims.com/ or contact our team of experts directly. We offer a free consultation and can answer any questions you may have about the process.
