Stamp Duty Reliefs
If you have purchased a residential property within the last four years, you might qualify for a relief on Stamp Duty Land Tax (SDLT). Here are some of the frequently encountered reliefs:
Uninhabitable
Properties purchased that exhibited substantial defects compromising the health, safety, and/or overall enjoyment of residential living.
Multiple Dwellings
The relief for residential purchases encompassing multiple dwellings is eligible for a period of 12 months starting from the date of purchase.
Sold Previous Home
Primary residential purchases that incurred the higher rate of Stamp Duty Land Tax (SDLT) due to still owning the previous primary residence may be eligible for a surcharge refund.
Probate
When acquiring real estate from an estate left by a deceased individual, property traders (companies or partnerships engaged in the buying and selling of properties) come into play.
Mixed Use
Properties that feature both residential and non-residential components, such as a flat situated above a shop, are included to make a claim for a refund.
Chattels
If the "contents" were included as part of your property purchase, you may be eligible for a Stamp Duty relief. It is important to note that this relief is distinct from "fittings/fixtures," which are considered to be included in the actual purchase of the property/land.
First Time Buyers
First-time buyers of residential properties have the opportunity to claim relief if the property serves as their primary residence and the purchase price does not exceed £625,000.
Granny Annexe
Residential properties equipped with an annex or studio flat that can function as a distinct dwelling unit may be eligible to claim a refund.
Stamp Duty Land Tax (SDLT)
Apply for your Free assessment today and discover if you are eligible to claim back a refund.
Stamp Duty Land Tax
You may be eligible to reclaim Stamp Duty Land Tax (SDLT).
How To Check if You're Eligible For A Stamp Duty Refund
If you are a homeowner and have encountered issues with your property that have negatively impacted your living standards or required significant repairs, you may be eligible to reclaim Stamp Duty Land Tax (SDLT).
To qualify for a SDLT refund, your property must meet the following criteria:
- The property must be a buy-to-let or second home.
- The property must have been purchased within the last four years.
- The property must have had qualifying defects at the time of purchase.
SDLT refunds can provide significant financial relief for homeowners who have invested in properties that turned out to have issues that negatively impacted their quality of life. If you believe that your property meets the above criteria, it is worth exploring your options for reclaiming SDLT.
Request your Free assessment with a specialist tax advisor to determine if you may be eligible for a Stamp Duty Land Tax (SDLT) refund.
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