Under current legislation an SDLT (Stamp Duty Land Tax) return must be submitted to HMRC for a notifiable land transaction within 30 days of completion.
The SDLT payment is also due within this time. A fine, and interest is payable for late submissions.
In the Autumn Statement 2015, the government stated that the time allowed for the filing of a return and the payment of the tax due would be reduced from 30 days of completion to 14 days. In the Spring Budget 2017 the government confirmed that the changes to the timings would be effective from 1 March 2019 and the Budget of 29 October 2018 has confirmed this.
Our practice is to prepare and submit the SDLT return for you. A completion statement is sent to you prior to completion and this will detail the amount of the tax liability.
We require the amount of the SDLT payable prior to completion. This will ensure you meet the SLDT requirements without any fines.
If you would like to instruct us, or discuss this matter further please contact Chris Stratford.