Accurate SDLT Calculations for Conveyancers
Stamp Duty Land Tax
Property purchases in England and Wales are subject to the Stamp Duty Land Tax (SDLT), or Land Transaction Tax (LTT) in Wales.
SDLT rates are contingent on the purchase price of properties, which are categorized into different bands. The rates progressively increase as you move from lower to higher bands.
Stamp duty is a progressive tax, with rates escalating between specific thresholds, rather than being applied to the overall purchase price.
First-time buyer relief was introduced to the new stamp duty system by the government in November 2017.
As of 1st October 2021, stamp duty rates and thresholds have reverted to those in effect before the stamp duty holiday which was introduced in 2020.
Current research in the UK shows that nearly 25% of all Stamp Duty Calculations are incorrect.
We have partnered with Mirador Advisory, a specialist Stamp Duty Land Tax company who can advise and offer any remediation for any property which may lie outside of HMRC's guidelines. To date we have saved our clients over £100k and Mirador have saved over £1million for their clients.
“The government SDLT calculation is too simplistic. There are scenarios which are not covered, and the reliefs are not immediately obvious. I have been using the 4Stamp SDLT verification for 12 months and I have found the system easy to use. The questions and answers are signed by off the client allowing transparency for all. The certificate at the end of the verification gives me comfort knowing that the SDLT figure is correct.”
— Hannah Solicitors, Birmingham
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John said…
“Mirador were very helpful, gave clear advice and handled all communication with HMRC. As a result, I am very pleased to say our claim was successful.”
Sukhbir said…