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Are You Entitled to a Stamp duty Land Tax Refund?
Added 03/12/2009
Stamp duty land tax (SDLT) legislation has been through many changes since its introduction in 2003, and there have been a number of developments in HMRC interpretation and application of the rules.
There have been a number of successful cases where technical arguments have been won with HMRC, with the result of significant reclaims for a number of people across several different areas of SDLT.
You may therefore be able to realise value by reviewing transactions that have previously taken place to see if there is any scope for submission of a reclaim. The areas that appear to be most overlooked – and are therefore worth paying close attention to – are:
- Land transactions to, from or between partnerships (including where property has been transferred into offshore structures)
- Exchanges of land
- Any sale and leaseback transactions
- Land transactions between parties who are, or may be, connected with each other.
So it may be worth an initial review of your transactions to identify whether any opportunities exist for a potential SDLT reclaim.